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) 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.

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