An alarming factor you probably missed during your industry-market analysis. Do you know CPI's recent statistic shows that Inflation rose to 7% since the past year?
#1: 83% of consumers spotted a significant upsurge in prices #2: 54% of consumers were already depressed by high future prices #3: 95% of consumers planned to re-plan their shopping behavior if inflation continued
Customers will be seen buying cheaper products when they face inflation.
They will lower their spending frequency to half of what it is now. Categories include restaurants, Travel, Apparel, etc.
There might be people who will stop buying certain products from particular brands.