Jesse Newman’s Post

Still feeling that inflation pinch? You are not alone… many Americans, are still experiencing sticker shock prices as everyday goods are still high. Take for example a cup of coffee. The smallest available lattes at chain brands cost a median of $6.82 in the fourth quarter of 2023, a 110% jump from $3.25 in 2019. Laundry costs have surged, with dry-cleaning prices nearly tripling from $1.50 in 2020 to $4 per shirt last month. This drastic increase in laundry expenses adds to consumers' financial strain and contributes to their growing frustration with rising prices across various sectors. #economy #consumer #inflation

The Mere Exposure effect: a fancy way of saying we develop a liking or pleasing response to something or someone based on frequency of exposure to it. The broken record of inflation, however, has yet to produce our affection or even our tolerance of it. WSJ's breakdown of NielsenIQ's recently dropped 2024 Consumer Outlook report targets the heart of the matter: It's not just rising prices at the drive-through or cafe table or movie counter that have us consumers anxious. It's the 4-year price hike of fairly non-negotiable staples like potatoes (up 31%), eggs (+65%), and bleach (up 75%). Things we can't just go without. In this case, we would more likely feel familiarity's other effect as noted in St. Augustine's 5th century Latin, "vulgare proverbium est, quod nimia familiaritas parid contemptum" (it is a common proverb, that too much familiarity breeds contempt). https://lnkd.in/d8tJqaFf

📢 Navigating the Maze of Rising Prices: A Reality Check for Everyday Consumers! 🛒💰 Who would've thought deodorant prices could shake up our economic outlook? Rob Cooper's sticker shock with Old Spice Stronger Swagger mirrors a broader trend of rising costs across our daily essentials. 🤔 Cooper, a financial officer in Ambler, Pa., shares his disbelief at the 100% price hike on his favorite deodorant. It's not just about armpit freshness; it reflects the disconnect between our expectations and the current economic reality. 😱 While inflation has slowed down, prices still tick upward, leaving many of us scratching our heads. The Federal Reserve may be pleased with progress, but over two-thirds of us feel like we're heading in the wrong direction. 📈💼 From deodorant to dry cleaning, everyday purchases are becoming a puzzle. Mary Kay Owen, a substitute teacher, is on a quest for answers to the mysterious surge in prices for staples like milk and pet food. 🕵️♀️ Whether you're sipping a latte or grabbing a quick bite at Chipotle, price hikes are hitting us where it hurts. Ravi Dhar, the director of the Yale Center for Customer Insights, reminds us that even seemingly small increases can leave a lasting impact. ☕🌯 Tyler Crawford, dealing with pricier Starbucks orders and Chipotle meals, sums it up perfectly: "People will finally get used to it, I'm not sure when." 🔄 Let's chat: How have these rising prices changed your daily decisions? Share your thoughts and experiences in the comments below. 👇 #EconomicReality #PricePuzzles #EverydayChoices 🌐💼

"The high prices of items like coffee and milk have consumers grumbling about inflation across the board, even as it has cooled." Perception is reality, and consumers behave irrationally. We all know this, even say it in meetings – but few truly apply these truths in their consumer & shopper strategy and activation. Per this story in The Wall Street Journal shared by The Food Institute, people THINK prices continue to rise, even if that's not actually the case. And likewise, even as prices inflate – whether in reality, or just perception – most assume that consumers will respond in a rational way: by cutting back. However, we continue to see in our psychology-based data that the more price (and other) pain increases, the more consumers choose categories and brands that give them a bit of feel-good. It's not rational, but it's human nature. And teams that understand the finer points can continue to thrive. We'll cover this in more detail in our upcoming #Snack50 Report, coming mid-April. Pre-register to receive the report here: https://lnkd.in/g5S2p-FU https://lnkd.in/gKHGWNg3

💥 Reality check: Your brain is being crushed by inflation! 💥 This WSJ article reveals we're all living with outdated "reference prices" from pre-pandemic times, causing intense sticker shock. Prices have skyrocketed but our expectations are stuck in the past, leaving us grumpy and resentful. Last week it was the $25 meal from Five Guys and the $20 meal from Chipotle. What's on your list of crazy inflated pricing? I wish my salary was increas https://lnkd.in/eZGV-Stq #stickershock #inflation

One thing to watch for is how #inflation may begin to sway #consumers to switch brands or make purchases in less frequent intervals. The pace of #inflation has slowed to 3.2% from its recent peak in June 2022, according to the U.S. Department of Labor. But prices are still rising, just at a slower rate. It's still amazing to see how everyday items we purchase are so much more expensive now than what they used to be. For example, a Starbucks order, a vanilla bean Frappuccino with caramel, is up to nearly $7 from around $5 in 2020.  At Chipotle Mexican Grill, a classic chicken bowl with chips, guacamole and a drink rose from $8 a few years ago to about $20 recently. The feeling at the register is total “Shock and anxiety.” #supplychainplanning #demandforecasting https://lnkd.in/eRsspsiA

Prime Energy drink— Logan Paul and KSI, remember? They're in big trouble: Hey folks, there's some drama in the energy drink world. The drink was co-founded by YouTuber Logan Paul And KSI 1. Big Lawsuit Alert   • Prime's supplier is suing them for $68 million   • Why? They say Prime broke their contract when sales dropped 2. Not the Only Legal Headache   • The US Olympic Committee is suing too   • There are also lawsuits about caffeine content and 'forever chemicals' ['forever chemicals' if don't know, Google it plz] 3. What Prime Says   • They are trying to cancel some cases   • Logan Paul denies the 'forever chemicals' claim 4. The Affects   • Prime's sales are down   • All this legal stuff isn't helping their reputation It's a reminder that even trendy brands can face big challenges. ---- 👉 P.S. Follow for daily insights on business, marketing and strategy.

here is a blog post - is your daily cup of coffee keeping you broke ? https://lnkd.in/d8gNesqV there is a link to a financial calculator and the amount , if invested , can return a whopping amount over a period of 30 years you can replace your coffee with tea , cigarettes , daily eating out , anything else that takes out money from your pocket

The vinyl revival means they are back in the basket of goods used by the ONS to calculate inflation for the first time since they were supplanted by CDs and cassettes in 1992 https://lnkd.in/epU-hs4x

We regrow our skeleton every 10 years, even as an adult. Yet we look at things that are calcium rich, like dairy, and start questioning their value to us and the trade-offs for the good and the bad. Regardless, obviously, there is a significant industry built around dairy and all of the versions we consume. It will be interesting to see where all the stakeholders come down on the new recommendations from the US government. https://lnkd.in/eec7ZM3p