Contributors: Maxine Gurevich, SVP/Cultural Intelligence and Steve Grant, SVP/Human Intelligence, Horizon Media
While the National Retail Federation reports that the 2021 holiday sales grew 14.1% from 2020 to $887B, inflation’s historic high will mean a different shopping season for 2022. Our data shows that 69% of all people are concerned or very concerned with inflation’s effect on their overall finances. But like much in the contemporary U.S. landscape, inequality and division are affecting the holiday retail season – people are experiencing three entirely different holidays depending on psychological reactions to inflation.
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Dr. Everett Rogers, a communications studies professor at Ohio State University, popularized the theory of diffusion of innovation. According to Rogers, there are four key groups or mindsets when it comes to new technology, new ideas and new concepts. At the front end are Innovators, the people who are constantly looking forward and searching for what’s next. At the back end are Laggards, who are constantly looking back and wondering what happened and how the world around them changed.



