What effect will the cost-ofliving crisis have on consumer confidence and spending? This is an incredibly polarised topic that needs to be looked at demographically, as it is true that sadly those with less disposable income will be those most affected in terms of consumer confidence and spending. Overall inflation hit 10.5% in December 2022, with inflation for food items reportedly rising to 16.9% in the same month. These rises, combined with soaring energy bills, will absorb a higher per cent of people’s income and it is likely that budget retail brands will be hit the hardest as a result, as those on lower incomes begin to tighten their belts and reduce their optional spending. With this in mind, as well as the worrying lack of business confidence, the recession may hit harder and last longer than hoped, putting jobs at risk. Will Big Tech recover from the mass sackings to build back its workforce? Whilst it is easy to make moral judgements when it comes to Big Tech and hope that platform users will vote on these issues with their feet, it is hard to ignore that user 32 LESSONS IN LEADERSHIP “ Urgent regulation is needed in this area to drive responsible leadership and management and ensure that disproportionate power and influence doesn’t sit with a few extremely wealthy unelected individuals. ON BIG TECH
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