Another area where consumer resilience will be key amid squeezes on wallets — dating apps.
Match Group, the US-listed owner of Tinder and Hinge, got a weak reception for its results from investors last night after it said its sales growth will be at the lower end of forecasts, trailing estimates. It blamed a weakening macro picture.
That backdrop will make increasing prices for its services harder and means that the improvement it intends to make to its apps, particularly Tinder, will have to resonate to keep daters coming back. That increases execution risk for the stock — or concerns for investors on whether its plans will work.
The standout performer for the firm was Hinge, which Match noted is the number one dating app download in the UK.
I sought a series of views from across our newsroom — due to a dearth of knowledge on the Markets Today desk — on why that might be. Answers included a preference for Hinge’s app interface, that women don’t have to make the first move and because it has good marketing.
And, in one case, because one of our colleagues met their partner on there.