During recessionary periods, customers become more price conscious, so it's important for businesses to consider adjusting product offerings to fit changing customer tastes. (Credit: VectorMine/Adobe Stock)
Unless you've been living in a cabin in the wilderness with no electricity or internet, you'll have noticed that consumers and businesses have had a lot to contend with this year, including supply chain delays, increasing costs for energy and materials, rising rents and interest rate hikes.
Given that backdrop, it's no shocker that the dreaded R-word keeps coming up in discussions about the economy. But the good news is that, so far, U.S. consumers are still spending money, according to Ben Johnston, who's COO of Kapitus, a business-to-business service based in New York.
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Raychel Lean
Raychel Lean is ALM's Florida bureau chief, overseeing the Daily Business Review. Email her at [email protected] or follow her on Twitter via @raychellean.
