gAbrdn CEO Stephen Bird recently joined Ian King on Sky News to discuss the current state of inflation, the economy, and more. With the inflation rate reaching an all-time high of 10.1%, Bird stressed the importance of understanding the implications of this rise and its potential effects on businesses in the future.
He noted that these increases have been seen in other countries as well, and even though it may seem daunting, there are still ways to mitigate any difficulties that may arise due to higher prices or taxes. For instance, he suggested creating better strategies for savings and investments so companies can continue to grow despite monetary pressures.
Additionally, Stephen Bird discussed how changing consumer behavior has also played a role in this economic situation and urged businesses to be aware of their customers’ wants and needs to remain competitive. He elaborated on how rising wages can help control inflation by providing extra purchasing power for consumers, leading to greater demand for products and services.
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Furthermore, he advised companies not to ignore the recent shifts in technology as it is likely that digital services will become increasingly popular moving forward – something that could potentially provide competitive advantages for those that embrace advancements early on.
Abrdn is a world-renowned financial services firm that provides tailored solutions to clients, helping them attain their short and long-term investment goals. Led by Stephen Bird, the company’s professional team understand that individual needs evolve based on the ever-changing socio-economic landscape; therefore they work hard to ensure each client is equipped with suitable strategies for success.
In addition to providing global market insight, Abrdn offers an array of technology and tools to assist wealth managers and financial advisors in making data-driven decisions in the UK. To further facilitate their customers’ securities, Abrdn also deploys personal wealth management services to help individuals reach their objectives.