By: Ray Day

CONTACT:

Ray Day
ray.day@stagwellglobal.com 

We wanted to share our latest consumer and business insights, based on research from Stagwell. Among the highlights of our weekly consumer sentiment tracking:

AMERICANS SLIGHTLY MORE OPTIMISTIC

Americans are feeling a bit better about the country – yet not their personal financial situation, according to our most recent poll with the Center for American Political Studies at Harvard University.

• 34% of Americans say the country is on the right track (up from 32% a month ago), and 34% say the economy is on the right track (the same as a month ago).
• 47% say their personal financial situation is becoming worse (compared with 45% a month ago). This view is highest among Republicans (65%) and Independents (49%) versus Democrats (28%).
• 36% say immigration is the most important issue facing the country, followed by inflation and price increases (33%).
• From a personal standpoint, inflation remains the top issue (38%, down 3 points from last month).
• When asked about a ban on TikTok, 64% believe the risks to Americans’ personal and national security outweigh the benefits of using TikTok. This view is highest among those ages 65 and older (85%).
• 65% support the bill that would ban TikTok in the U.S. if ByteDance does not sell it to a U.S. government-approved buyer.

SNACKING, THE GREAT STRESS RELIEVER

The world loves to snack, and it’s become the way consumers take their minds off the issues of the day, according to the fifth annual global State of Snacking report from The Harris Poll and Mondelēz.

• 88% of global consumers snack daily – and 60% enjoy snacks twice daily.
• The numbers are even higher among younger consumers: 94% of Gen Z and Millennials snack once or more a day; 68% snack at least two times a day; and 33% have three or more snacks a day.
• 6 in 10 consumers prefer snacks over traditional meals – favoring small, more frequent meals throughout the day.
• 67% are looking for snacks that are portion-controlled – 5 points higher than last year’s study.
• 54% are eating more plant-based snacks – 4 points higher than last year.
• A global favorite: chocolate. 65% of consumers in North America would rather give up social media for a month than chocolate (57% globally).
• 84% of consumers in North America have been loyal to specific snacks or brands for a long time (compared with 76% globally).
• 68% seek out snacks that evoke memories of their childhood or past experiences.

1 IN 4 AVOID COLLEAGUES WHOSE NAME THEY CANNOT PRONOUNCE

Mispronouncing a work colleague’s name – particularly a person of color – is a regular occurrence and a source of office stress, based on our Harris Poll research with Fast Company.

• 36% of people of color say their names are mispronounced most or all the time (compared with 18% of white counterparts).
• 33% of professionals of color report experiencing discrimination at work because of their name (versus 16% for white workers).
• 35% of Americans become anxious when they see a name they cannot pronounce, and 23% avoid someone whose name they cannot pronounce.
• Conforming rather than informing: 56% of people of color say they have changed their name at work in some way, and 13% have been told to change their name to make it easier to find a job.

SUMMER VACATION = MORE DRIVING

Spring has sprung, and America is thinking about summer vacations – with more planning to travel by car to save money, based on our Harris Poll survey with NerdWallet.

• 45% of Americans are planning a summer trip requiring airfare or a hotel stay.
• We will spend an average of $3,594 on vacations this year.
• 91% are taking action to save money on travel expenses – with 42% driving instead of flying to their destination (compared with 35% driving last year).
• 20% will go into debt for vacations this year.
• 22% will skip a vacation this summer because travel has become too expensive.
• 43% say recent air travel incidents have made them more wary to fly.

STREAM AND CANCEL

Consumers today are confused by all the streaming options, and they’re ready to watch and cancel at a moment’s notice, according to our Harris Poll survey with Ad Age.

• More than half of viewers subscribe to a streaming service for an individual show and then cancel after watching. The trend is higher among younger people: 63% of Gen Z and 62% of Millennials say they’ve streamed and canceled.
• Netflix continues to dominate the streaming market: 66% are interested in Netflix’s original content among a list of competitors – jumping to 83% among Gen Z and 74% among Millennials.
• Prime Video ranks second with 55% interest overall.
• Gen Z’s second preferred streamer for original content is Disney+ with 60% of respondents selecting it.
• Second among Millennials is Hulu at 59%.

ICYMI

In case you missed it, check out some of the thought-leadership and happenings around Stagwell making news:

• RiskRep Radar: The Politicization of Return to Office
• What the rise of generative AI means for America’s creative class
• Execs plan to invest more in AI this year but implementation barriers remain
• Most HR pros say companies are likely to expand, not reduce, fertility benefits
• Only 22% think they know the middle names of at least half of their friends or acquaintances
• Nearly Three-Quarters of Americans Mistakenly Assume Clear Pool Water Is Clean, Swim-Safe Water

Originally Released on

PRNewswire

Contact:

Lindsay Bennett
lindsay.bennett@galepartners.com
917 497 5582

Originally Released On

PRNewswire

CONTACT:

Contact:
Deborah Abraham: Deborah.abraham@forsman.com
Trudi Harris: tharris@cpbgroup.com 

By

Stagwell’s Risk and Reputation Unit

During COVID, businesses innovated and listened in warp speed. Leaders today need to do so again to create the next chapter of employee engagement and communications, while addressing diverging demographics and values about the future of work.

A Difference in Values and Diverging Demographics Are Causing WFH Culture War

Four years into the work-from-home experiment, the culture war is in full swing. Where you work has become a partisan issue.

Democrats are more likely than Republicans to say remote work is good for employee wellbeing (+13 percentage points), company bottom lines (+15 percentage points) and career advancement (+16 percentage points).

Republicans are more likely to say that it’s frustrating to hear complaints about in-person work when so many frontline workers do it daily (+9 percentage points); and that work has traditionally been “in-person” and that’s how it should be (+10 percentage points).

WFH is also a battle of generations. Millennials, along with Gen Z, are leading the WFH narrative and believe they have leverage over employers. In fact, 71% of Millennials believe they could readily seek out a job with higher pay. At the same time, Gen Z has a steep learning curve that WFH is not helping: 82% of managers say new Gen Z hires’ soft skills need more development.

What the Future of Work Looks Like Now That Everything’s Politicized

Americans increasingly care more about quality of life than simply climbing the corporate ladder. Employees’ top 2 priorities are to “build financial stability so I can pursue what I care more about” (37%) and to “establish a better work life balance” (35%).

Younger workers also believe businesses have broken promises made to them during COVID. That includes 67% of Millennials and 54% of workers overall who say they were promised better work-life balance that never happened. And it’s not just young people who prioritize “work to live” versus “live to work.” Of all American workers, 78% say they would be more loyal to a company that gave employees the freedom to choose where they work from.

What Business Leaders Should Do

To start, business leaders need to modernize employee communications and engagement. In most companies, more than 70% of employees want clearer views of company strategy. Half of employees want more focus on operational changes and organizational goals rather than macro news and generic business updates. In short, employees want more context.

In addition:

Explore the full presentation on the politicization of return to office here.

Mark Your Calendar: April Webinar on Cybersecurity

Our next 30-minute, free risk-and-reputation webinar is at noon ET Thursday, April 18. Together with Stagwell’s communications firm Allison, we will focus on how business leaders can build and protect reputations in the era of cyberwarfare and misinformation. To RSVP, email Alexis Williams.

ICYMI: Risk and Reputation Unit in the News

• Fast Company: It’s not just ‘woke.’ These are the most polarizing words in America
• Forbes: Why has ESG Become The Toxic Wordle In Asset Management?

Originally Released On

PR Newswire

CONTACT:

Sarah Arvizo
pr@stagwellglobal.com

By: Ray Day

CONTACT:

Ray Day
ray.day@stagwellglobal.com 

We wanted to share our latest consumer and business insights, based on research from Stagwell. Among the highlights of our weekly consumer sentiment tracking:

FINANCIAL INSECURITY HIGHEST IN A DECADE

American financial insecurity is at its highest point in at least a decade, according to our Harris Poll research with Northwestern Mutual.

• 33% of Americans say they don’t feel financially secure, up from 27% in 2023. It’s the highest concern level seen going back to 2012.
• The reason for the concern: the high cost of living. In fact, 54% expect price pressures to increase this year.
• Only 9% say their household income is outpacing inflation.
• A third think inflation will stay where it is, and fewer than one in five expect it to fall.
• 54% predict a recession this year, down from 66% in 2023 – yet higher among Gen Z (62%) and Millennials (59%).
• 45% consider themselves “disciplined financial planners,” down from 65% in 2020.
• While most are focused on cutting costs and saving, 59% said they will either spend the same amount or more this year on restaurants, vacations and entertainment.
• Gen Z (36%) is most likely to engage in more discretionary spending overall this year, compared with Millennials (28%), Gen X (24%) and Boomers (20%).

EMPLOYEES WILLING TO QUIT OVER CEO’S POLITICS

A third (36%) of U.S. workers say they would consider quitting if their CEO expressed political views they don’t agree with, based on a new Harris Poll survey with Indeed.

• Among younger employees, 46% of 18- to 34-year-olds and 44% of 35- to 44-year-olds would consider quitting.
• 43% have heard colleagues talking about politics in the office.
• 56% of employees say talking politics in meetings makes them uncomfortable – even higher for women (62%).
• 18% admit to avoiding coworkers with different political opinions.
• 40% say politics has affected team morale – higher among for 18- to 44-year-olds (47%) versus those 55 and older (28%).

HEALTH CARE RECEIVES WEAK REPORT CARD

Two years ago during COVID, The Harris Poll found the health worker shortage was real for Americans. Today, it has become even worse, according to our new poll with the PAN Foundation.

• Overall, the state of healthcare access among patients with a chronic health condition received a grade of “C,” or 75.8. Looking specifically at five key categories in the scorecard: Access to Care = C+ (78.8); Relationship with Healthcare Professionals = B (84.2); Affordability of Prescription Medications = B- (82.3); Access to Treatment through Healthcare Plans = D- (62.8); and Financial Toxicity = C- (70.7).
• 48% of patients face logistical barriers to care, including trouble getting appointments (18%) and financial difficulties paying for needed care (13%).
• People of color (57%), younger patients (70% Gen Z and Millennials) and LGBTQIA+ patients (77%) are more likely to report logistical barriers to care.
• 36% of patients taking prescription medications said they had taken at least one financially related action to afford their needed prescription medication(s): reducing spending in other areas (15%); dipping into retirement or other savings (13%): exploring discount saving apps (12%); taking on credit card debt (11%); or delaying payment of other bills (10%).

THE CHECK NO LONGER IS IN THE MAIL

Digital payments are universal, and paper checks are nearly a thing of the past. Our National Research Group’s 2024 Payouts Landscape study with Onbe found that 97% of U.S. consumers use at least one form of digital or electronic payment every month.

• Top digital payment methods include debit cards (57%), credit cards (55%), electronic bank transfers (40%) and payment apps (38%).
• 52% will not select any physical payment method, like paper checks or cash.
• Check use is down to 22%, and money orders have declined to 8%.
• Arguments against paper checks: takes too long to arrive (47%), inconvenient to deposit at a bank or ATM (45%), too long for funds to show up in an account (34%) and don’t know how to deposit it (16%).
• Paper checks are becoming so rare that 31% of consumers accidentally have thrown away or lost a check before cashing it.
• When it comes to security, digital also wins. When asked which types of payments are most secure, 53% say digital/electronic, and 47% say physical.
• Looking ahead, mobile wallets and peer-to-peer payment apps are set to continue growing in popularity, with 67% (mobile wallets) and 73% (payment apps) of consumers expecting to use these services as much or more in 2024 as they did in 2023.
• 21% expect to use cash less often this year.
• 56% expect that they will use paper checks less frequently or not at all.

ICYMI

In case you missed it, check out some of the thought-leadership and happenings around Stagwell making news:

• Name bias at work is real and employees of color are most impacted by it
• 1 in 5 Gen Zers haven’t had a single conversation with someone over 50 in their workplace in the last year
• Who Is Optimistic About Buying a Home? Not Younger Americans
• Nearly 3 in 4 Gen Z Hourly Workers Love/Like Their Job
• Guardant Health exposes colorectal cancer screening gap with new Harris Poll report

Originally Released On

PRNewswire

CONTACT:

Lindsay Bennett
lindsay.bennett@galepartners.com