Dear reader,

Do you remember what things looked like the same time one year ago? Dyed-in-the-wool democrats calling for rearmament? Unthinkable! A double-digit inflation rate in Germany? You’ve got to be kidding! A court-ordered repeat of a state election? In a banana republic perhaps! The World Cup during Christmastide? The stuff of fairy tales!

To be sure, things have changed indeed since the previous Christmas, and few of the changes are reassuring. What are the ramifications for our industry? Well, whenever you hear “location is everything” the market situation always also plays a role. And it is precisely the market situation that is weighing heavily on the general mood.

So, are things getting better?

I have been asking myself this very same question. After all, it is well known that we advertisers are the last link in the food chain. Which is what made me listen closely when well-informed people at this year’s FondsForum conference ventured their predictions for the year ahead.

And they had fascinating things to say, no doubt about it. For one thing, 2023 will probably see the return to an inflation rate of 2.x %. Plus: Since the labour market is already swept clean, there is no disaster to be expected here either.

“A Storm Brewing? Ride It out in Style!”

And while we may more or less agree that a storm is brewing, it is part of my job as columnist to speak some soothing words, among other things. So, here is my tip:

Go for a retreat in some alpine hideaway, build a fire in the hearth, and make yourself at home with your loved ones. Listen to evergreens like “Last Christmas” and brace yourself for things to come. This writer will be doing the same. Merry Christmas to you!