Insight Exchange by L.E.K. Consulting

In this episode, Claire Davies, Rob Haslehurst and Emile Santos explore the irony of businesses attempting to maintain price increases in an inflationary environment, even as they struggle with the rising costs of labor, logistics and raw materials.

Here's what Claire Davies, Rob Haslehurst and Emile Santos cover:
1. How consumer businesses are dealing with inflationary pressures and the actions of the Fed to contain inflation.
2. Strategies businesses are using to offset rising costs, such as automation, process redesign and supply diversification.
3. The implications of price increases on consumer behavior and how businesses are responding to maintain consumer loyalty.

Claire Davies is a Partner in L.E.K. Consulting's Consumer Practice, specializing in the food and beverage, beauty, personal care and direct-to-consumer sectors. Rob Haslehurst is a Partner in L.E.K. Consulting's Consumer Practice, focusing on automotive, home and entertainment, and he specializes in consumer-led growth strategies. Emile Santos is a Partner in L.E.K. Consulting's Consumer Practice, focusing on automotive and mobility as well as consumer health.

Show Notes

In this episode, Claire Davies, Rob Haslehurst and Emile Santos explore the irony of businesses attempting to maintain price increases in an inflationary environment, even as they struggle with the rising costs of labor, logistics and raw materials.
 
"We live in a competitive capitalized economy, and ultimately competitive action is what they're looking for and no business is going to hold prices in a world where competition is driving consumers away from them."

Claire Davies is a Partner in L.E.K. Consulting's Consumer Practice, specializing in the food and beverage, beauty, personal care and direct-to-consumer sectors. Rob Haslehurst is a Partner in L.E.K. Consulting's Consumer Practice, focusing on automotive, home and entertainment, and he specializes in consumer-led growth strategies. Emile Santos is a Partner in L.E.K. Consulting's Consumer Practice, focusing on automotive and mobility as well as consumer health.

Claire Davies, Rob Haslehurst and Emile Santos were discussing the historically high inflation and its impact on businesses and consumers. They found that 90% of businesses were feeling material inflationary impact on their cost of goods sold, labor and raw materials. To offset rising costs, businesses were attempting to pass on price increases or use technology to redesign models and become more efficient while also diversifying their supply chains. Ultimately, their conclusion was that while all businesses feel the impact, their ability to pass on price increases varies by sector and competitive action will determine the outcome.

In this episode, you will learn the following:
1. How consumer businesses are dealing with inflationary pressures and the actions of the Fed to contain inflation.
2. Strategies businesses are using to offset rising costs, such as automation, process redesign and supply diversification.
3. The implications of price increases on consumer behavior and how businesses are responding to maintain consumer loyalty.

Connect with our experts on LinkedIn:
Claire Davies: https://www.linkedin.com/in/claire-davies-00145b8/
Rob Haslehurst: https://www.linkedin.com/in/haslehurst/
Emile Santos: https://www.linkedin.com/in/emile-santos-1820745/ 


Visit L.E.K. Consulting at https://www.lek.com/

What is Insight Exchange by L.E.K. Consulting?

Join us as we swap ideas with thinkers, innovators and doers from around the world and around L.E.K.

Presented by consulting powerhouse L.E.K. Consulting (www.lek.com), Insight Exchange™ is a new forum dedicated to the free and open exchange of the most interesting, important, and urgent ideas in the world of business. From the farthest-reaching environmental issues to innovations in retail, industrials, and healthcare, every installment of Insight Exchange™ invites luminaries to tell us what they’re working on, what they’re worried about, what they’re excited about, and what’s coming next.

Join us on an intrepid journey of discovery as we take nothing for granted, pull no punches, and follow the research no matter where it leads. In its 30+ year history, this is what L.E.K. has done better than anyone in the world. And that’s why Insight Exchange™ is the podcast only L.E.K. could have produced. If you’re a growth investor, an advanced student, an employee, a researcher, an executive, an entrepreneur, an inventor, or a board member, we invite you to join us for Insight Exchange™. If you’d just like to keep your finger on the pulse of what’s happening in business, retail, education, healthcare, industrials, energy, media, or life sciences, we invite you to join us for Insight Exchange™.