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:

INFLATION REMAINS TOP NATIONAL CONCERN

Inflation is still hitting Americans across the political spectrum, according to our most recent poll with the Center for American Political Studies at Harvard University.

  • Americans say inflation is the most important issue facing the country (33%), as well as the most important issue to them personally (39%).
  • 75%, including more than 70% from each party, think the Federal Reserve has raised interest rates enough.
  • 50% of Democrats and 86% of Republicans believe the U.S. economy remains on the wrong track.
  • Half (50%) of Americans say their personal financial situation is getting worse, up from 47% in July.
  • While the country remains divided politically, Americans agree on immigration and parental rights: 71% of voters, including 53% of Democrats, think illegal immigration to the U.S. is getting worse.
  • 87%, including more than 80% of each party, agree parents have a right to know if their children want to transition their gender.
  • Despite being put in the middle of political debates, teachers have strong reputation: 60% of Americans say teachers are mostly trying to help kids get a better education, not push an ideology onto them.

 

IS THE ECONOMY WORSE THAN THE MEDIA COVERAGE?

Americans don’t trust the government’s economic news – or the media’s reporting of it, according to our Harris Poll survey with The Guardian.

  • 65% of Americans believe that the economy is worse than the media makes it out to be – including 49% of Democrats, 82% of Republicans and 66% of Independents.
  • At the same time, Americans have an inaccurate understanding about the economy: More Americans (wrongfully) believe the U.S. economy is shrinking (59% say it is shrinking) and that the unemployment rate is nearing a 50-year high (51% believe this).
  • 68% of Americans said it’s difficult to be happy about positive economic news when they feel financially squeezed each month (Republicans at 69% and Democrats at 68%).

 

WEDGE WORDS ARE DIVIDING US

Words matter, and terms like “cancel culture,” “woke” and “ESG” are becoming political lightning rods, according to the latest research from Stagwell’s Risk and Reputation Unit.

  • 58% of Americans – including 71% of Republicans and 43% of Democrats – believe the term “ESG” divides people more than it brings them together. “Sustainability” is less polarizing – with 27% believing the term has the potential to divide.
  • “DEI” also is a wedge word for 47% of Americans – including 56% of Republicans and 35% of Democrats.
  • Wedge words are expected to become more of an issue as the 2024 U.S. election cycle accelerates and political polarization grows.
  • To protect reputation from political backlash: 1) know your customer – 44% of Americans view it to be very important to prioritize stakeholders when it comes to social issues; 2) live your values – 44% want a company to live its values in all areas of operations; 3) bring people together – 35% say what’s most important is focusing on unifying social messages and programs; 4) don’t flip-flop – with 35% of Americans saying it’s very important that a company refuses to backtrack on social stances once it takes a position; and 5) back it up – with 30% agreeing that having a proven track record is the best defense against backlash.
  • To help businesses navigate the road ahead, Stagwell’s Risk and Reputation Unit is conducting off-the-record, in-person briefings for C-suite executives seeking intelligence about business risks heading into the 2024 election. To join one of the forums, send us an e-mail.

 

TRUST IN AI ERODES FURTHER

Public trust in AI continues to decline, based on our latest Harris Poll survey with MITRE.

  • 39% of U.S. adults indicate that they believe today’s AI technologies are safe and secure, down 9 points from our last MITRE survey in November.
  • Overall, Americans are more concerned than excited about the technology: While 51% of men, 57% of Gen Z and 62% of Millennials say they are more excited than concerned, only 40% of women, 42% of Gen X, and 30% of Boomers agree.
  • Gen Z (54%) and Millennials (58%) are willing to use AI to perform everyday tasks, yet a much lower percentage of Gen X (39%) and Boomers (30%) are willing to do so.
  • This gap widens with applications like AI in cars: 51% of Gen Z and Millennials are comfortable with autonomous rideshare vehicles, compared with 32% of Gen X and 20% of Boomers.
  • 80% worry about AI being used for cyber-attacks, 78% worry about it being used for identity theft, and 74% worry about it being used to create deceptive political ads.
  • Only 46% believe AI technologies are ready for use in mission-critical applications for defense and national security, down 8% from November 2022.
  • All Americans – even younger adults – support more AI safeguards assurance and regulation: 78% of Gen Z and 82% of Millennials support regulation, along with 86% of Gen X and 90% of Boomers.
  • Also:

 

TWITTER BY ANY OTHER NAME

The Twitter name is hard to change in the minds of users, according to our Harris Poll survey with Ad Age.

  • 79% of X users know about the rebrand, yet 69% still refer to the platform as Twitter and posts as “tweets.”
  • 49% say that X’s content is “more negative now than before Elon Musk’s acquisition.”
  • Still, for those users on both X and Threads, 69% prefer X.

 

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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 (fielded Sep. 8-10):

WEEKLY WORRIES ABOUT ECONOMY EDGE UP

Today, 89% of Americans are concerned about the economy and inflation – up 3 points from last week and higher than December’s 82% rate.

  • 79% worry about a potential U.S. recession (up 2 points)
  • 74% about affording living expenses (no change)
  • 74% about political divisiveness (up 1 point)
  • 87% about U.S. crime rates (up 6 points)
  • 67% about the war on Ukraine (no change)
  • 59% about a new COVID-19 variant (up 1 point)
  • 53% about losing their jobs (up 1 point)

 

ONLY 1 IN 4 TRULY UNDERSTAND AI TODAY

As AI continues through the innovation curve toward mass adoption, consumers are becoming “AI realists” – seeing it as a powerful and potentially groundbreaking technology that could have significant positive applications in their personal and professional lives. Yet serious potential for willful or accidental misuse worries people everywhere. Stagwell’s National Research Group has developed “The Accountable AI Playbook” for developing and communicating any organization’s AI strategy.

  • 23% today say they have an “excellent” understanding of AI, 35% admit to knowledge gaps, 33% don’t know much at all, and 9% don’t know anything about AI or have never heard of it.
  • Gen Z has the greatest understanding (37% say they have an “excellent” understanding of AI), followed by Millennials (31%), Gen X (15%) and Boomers (7%).
  • 59% say AI can be a useful tool for society but only if used carefully and responsibly.
  • Only 18% of consumers want corporations to swear off AI entirely, while even fewer (15%) believe companies should embrace this technology wholeheartedly and without reservation.
  • 41% believe that the increased adoption of AI by businesses and governments will have a positive impact on society, while 27% think it will be a net negative.
  • Trusted AI remains a key barrier for broader adoption. Today, 36% always or usually trust information from AI chatbots. That compares with 65% who trust academic papers, 62% who trust search engines, 53% documentaries and 51% government web sites.
  • The workplace has work to do with regard to AI. Half of those surveyed (50%) say their employers has not yet issued official guidance or policy documents on the use of AI in the workplace. Also, 56% say their employer has not issued any training sessions on the topic of AI.

 

‘TIS THE SEASON FOR HOLIDAY FORECASTS

The 2023 holiday shopping season will continue last year’s modest growth rate, and consumers will have discretionary income. Yet value will remain top of mind, as consumers rebound from peak inflation. Among the insights from Stagwell’s Assembly 2023 holiday forecast:

  • 4.5% projected year-over-year growth – 11.9% growth for e-commerce and a modest 2.8% for brick-and-mortar locations.
  • October Prime Day and competing retailer promotions will be the first industry-wide tentpole moments that trigger holiday spending, followed by a lull until “Cyber 5” in November.
  • Consumers’ attitude toward value is more important than ever, and they are limiting splurges and prioritizing experiences. In fact, 48% of holiday shoppers are planning to spend time extracting maximum value for their gifts, 48% are worried about making a larger purchase, and 63% say they are more likely to value spending time with others versus receiving a physical gift.
  • Purchase intent is down for a wide range of categories typically bought during the holidays – especially apparel, travel and furniture/home decor.
  • If last year’s trend continues, Giving Tuesday will be less about giving on the day itself and more about a longer-tail season – aligned with earlier retail pushes.

 

COLLEGE SPORTS REALIGNMENT NOT A FAN ISSUE, YET

When it comes to college sports, the latest conference realignment hollowing out the Pac-12 is okay with most fans  but generating long-term fears, according to our Harris Poll survey with Sportico.

  • 55% of U.S. adults familiar with the conference realignment do not feel it has affected their enjoyment of college sports.
  • 18% say the realignment has reduced their enjoyment of college sports.
  • 60% say that college sports would be better off if the wealthier and more powerful conferences were spun off from the NCAA.
  • At the same time, 68% who follow college sports believe that conference realignment is a long-term “problem” for college sports.
  • Americans are more concerned with the lack of equal opportunities for female athletes (71%) and lack of a uniform name, image and likeness (NIL) policy (70%).

 

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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 (fielded Sep. 1-3):

WEEKLY WORRIES ABOUT ECONOMY MODERATE

Today, 86% of Americans are concerned about the economy and inflation – down 1 point from last week and higher than December’s 82% rate.

  • 77% worry about a potential U.S. recession (down 3 points)
  • 74% about affording living expenses (down 1 point)
  • 73% about political divisiveness (down 2 points)
  • 81% about U.S. crime rates (no change)
  • 67% about the war on Ukraine (down 1 point)
  • 58% about a new COVID-19 variant (no change)
  • 52% about losing their jobs (down 5 points)

 

DON’T USE AI TO TRACK ME, EMPLOYEES SAY

While many are concerned about AI replacing their job – with 38% of Americans saying AI might make some or all of their job duties obsolete in the future – even more are troubled by employers using AI to track them on the job. Our Harris Poll survey with the American Psychological Association found:

  • 51% of workers across different workplace settings said they were aware their employer uses technology to monitor them on the job, including office workers (49%), manual laborers (49%) and customer/client/patient services workers (55%).
  • Being monitored coincides with poor employee morale: monitored employees report feeling uncomfortable with the way their employer uses technology to track them (46% versus 23% of workers who did not report being monitored), feeling micromanaged (51% versus 33% for non-monitored) and experiencing emotional exhaustion at work in the past month (39% versus 22% for non-monitored).
  • 26% of workers who report being monitored by their employer believe they are not valued at work versus 17% who did not report being monitored.

 

ALSO BE CAREFUL WITH AI FOR RECRUITING, FUTURE EMPLOYEES SAY

Nearly half of Americans looking for a job worry that AI is tipping the scales against them, according to our Harris Poll survey with the American Staffing Association.

  • 49% of current job seekers say AI job search tools are more biased than human recruiters.
  • Among those who are considering a new job, 43% believe AI recruiting tools are more biased than humans, compared with 29% of those with no plans for a job change.
  • At the same time, 39% of current job seekers have used AI tools themselves to assist in applying for a job – with 36% of Hispanic and 34% of Black Americans saying they have used AI when applying for a job, compared with 17% of White Americans.

 

54% OF GAS-POWERED CAR OWNERS WOULD CONSIDER AN EV

While 9% of Americans report currently driving an electric vehicle, 54% of gas-powered vehicle drivers say they would be interested in making an EV their next purchase or lease, according to our Harris Poll survey with VinFast.

  • 85% of current EV drivers would likely purchase or lease an EV from a new automotive brand if it offered the features they needed.
  • Key features drivers say are most important if purchasing or leasing an EV include affordability (58%), convenient/easy to charge (54%), safety (45%), warranty and service (35%), driving technology (23%) and visual design (16%).
  • 48% of drivers would like more seating options from EV manufacturers, followed by more storage (47%), body styles (46%) and colors (17%).
  • 54% of gas-powered vehicle drivers say affordability is a key reason preventing them from purchasing or leasing an EV.
  • Younger drivers (76%, ages 18-44) are more likely than older drivers (46%, ages 45+) to be interested in purchasing/leasing an EV for their next vehicle.

 

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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 (fielded Aug. 25-27):

WEEKLY WORRIES ABOUT ECONOMY EDGE BACK UP

Today, 87% of Americans are concerned about the economy and inflation – up 2 points from last week and higher than December’s 82% rate.

  • 80% worry about a potential U.S. recession (up 1 point)
  • 75% about affording living expenses (up 4 points)
  • 75% about political divisiveness (no change)
  • 81% about U.S. crime rates (down 1 point)
  • 68% about the War on Ukraine (up 3 points)
  • 58% about a new COVID-19 variant (down 1 point)
  • 57% about losing their jobs (up 3 points)

 

ANCHOVIES, BLACK LICORICE, OYSTERS TOP FOODS WE LOVE TO HATE

The list of foods Americans love to hate is out, and anchovies, black licorice and oysters are at the top, according to our Harris Poll survey with Instacart.

  • 50% of Americans dislike anchovies – 56% for those 45 and older and 43% for those ages 18 to 44.
  • Women (58%) hate anchovies the most, topping men at 43%.
  • Following anchovies, 45% of Americans dislike black licorice.
  • Black licorice is most disliked by young people (48% among those 18 to 54 versus 37% for those ages 65 and older) and women (54% versus 35% for men).
  • Rounding out the top 10: beets, blue cheese, okra, capers, brussels sprouts, fennel and olives.
  • The top reasons Americans think a food could be polarizing or controversial include smell (66%), strong flavor (57%), texture (57%), visual appearance (47%), type of flavor, such as sweet, sour, salty (47%) and how it makes you feel after eating it (32%).
  • 37% of Americans have food preferences they consider to be polarizing or controversial.
  • 69% say they have encountered a food that they initially disliked but eventually grew to enjoy.
  • 37% of Americans say they are eager to try new foods that have a polarizing or controversial reputation.

 

72% SPENDING LESS ON CLOTHING

Clothing sales tend to tick up in the fall, reaching a spending crescendo at the holiday season. This year might be different, based on our Harris Poll survey of American fashion attitudes and plans.

  • 72% of Americans who purchase fashion items for themselves said that they have spent less on clothing during the past year.
  • 67% identified price as a factor when shopping for clothes, more than quality (62%) and style (55%).
  • 9 in 10 Americans set a budget before they go shopping, and 4 in 10 shoppers identify fashion spending as a source of stress.
  • Boomers target tangible considerations more than young people: 78% of Boomers identify price as a factor they consider, followed by quality (74%), item style (64%) and convenience (53%) – each at least 10 percentage points higher than other generations.
  • Younger Americans and Black Americans bring their values into the shopping equation more than their counterparts. Black Americans are roughly twice as often as White Americans to identify sustainability efforts (24% versus 13%), a brand’s social stands (21% versus 11%) and a brand’s employment standards (19% versus 9%) as key issues when considering a clothing purchase.
  • Similarly, Gen Z cares far more about sustainability (22% versus 12% for Boomers), social stands (25% versus 6%) and employment standards (24% versus 5%).

 

DO YOU KNOW YOUR LDL NUMBER?

Half of heart attack and stroke survivors are unaware of their LDL cholesterol number, and 70% are unaware that it’s “bad cholesterol,” according to our Harris Poll Survey with the American Heart Association.

  • 75% of heart attack and stroke survivors report having high cholesterol.
  • Yet only 49% recognize the need to prioritize lowering their cholesterol.
  • 98% of heart attack and stroke survivors surveyed say they are willing to take a simple blood test if recommended by their health care professional.
  • 65% of heart attack and stroke survivors believe high cholesterol poses a moderate to high increased risk for heart attack and stroke.

 

71% SAY WE NEED MORE BLACK CEOs

Americans believe diversity remains essential to corporate performance, culture, innovation and profitability, according to our Harris Poll study with the Black Economic Alliance.

  • 81% agree that corporate America should reflect the diversity of the American population (90% for Black Americans and 84% for Gen Z).
  • 78% support businesses taking active steps to ensure companies reflect the diversity of the American population (88% for Black Americans and 83% for Gen Z and Millennials).
  • When thinking about the effects of racial diversity on business, Americans overwhelmingly agree there would be positive impacts on the ability to: understand a broader set of customers (87%); innovate (84%); improve profitability (79%); and boost employee retention (79%).
  • Americans overestimate the number of Fortune 500 Black CEOs today. On average, Americans think 19% of the 500 largest companies have a Black CEO. The actual representation is 2%.
  • When presented with this CEO diversity gap information, 71% say the number of Black CEOs needs to be increased.

 

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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 (fielded Aug. 18-20):

WEEKLY WORRIES ABOUT ECONOMY MIXED

Today, 85% of Americans are concerned about the economy and inflation – down 2 points from last week and higher than December’s 82% rate.

  • 79% worry about a potential U.S. recession (down 1 point)
  • 71% about affording living expenses (up 1 point)
  • 75% about political divisiveness (up 1 point)
  • 82% about U.S. crime rates (down 1 point)
  • 65% about the War on Ukraine (down 5 points)
  • 59% about a new COVID-19 variant (up 7 points)
  • 54% about losing their jobs (up 6 points)

 

60-69 IS ‘PERFECT’ RETIREMENT AGE

Employers say the “perfect” retirement age is now between 60 and 69, and companies are taking knowledge transfer more seriously than ever, according to our Harris Poll survey with Express Employment Professionals.

  • U.S. employers are facing a compounded crisis due to the current labor shortage and losing critical skills that veteran workers possess.
  • 81% of American hiring managers say employees have retired from their companies in the past two years.
  • 33% of these employees have retired between 60 and 64 years old, and 33% between 65 and 69 years old.
  • 26% of hiring managers believe employees should retire between 60 and 64, and 24% believe the correct age is between 65 and 69.
  • 84% say it’s a big loss when older employees retire without passing on their years of knowledge to younger employees.
  • 47% of employees are experiencing a failure of knowledge transfer, leaving employees to learn how to do a job on their own.

 

ONLY 13% KNOW CORRECT AGE FOR SOCIAL SECURITY BENEFITS

Today, 75% of adults age 50+ worry Social Security will run out of funding in their lifetime, up from 66% in 2014. Our Harris Poll survey with the Nationwide Retirement Institute also found:

  • 21% of adults age 50+ say they have no source of retirement income in addition to Social Security, up from 13% in 2014.
  • 10 years ago, 48% of Americans had a pension in addition to Social Security, compared with 31% in 2023.
  • The picture is even dimmer for young people: 45% of Gen Z and 39% of Millennials believe they will not have any Social Security benefits when they are eligible to collect.
  • In fact, 76% of Gen Z and 76% of Millennials anticipate they will need to continue working in retirement because Social Security will not pay enough.
  • Only 13% of American adults correctly guess the full retirement age for Social Security based on their year of birth: 50% incorrectly stated a lower age, 4% incorrectly stated a higher age, and 33% said they do not know.
  • Overall, Americans guess the full retirement age is 60 years, Gen Z guesses 54, and Millennials guess 55. (The correct age is 66 or 67, depending on the year a person is born.)

 

POLITICAL CRISES SLOW CORPORATE REPUTATION RECOVERY

Companies caught in the crosshairs of a politically focused crisis are finding it harder and slower to recover from reputational harm, according to Stagwell’s latest risk and reputation research.

  • Historically, companies like Boeing, VW and Chipotle that suffered a product-led crisis saw reputation recovery in about two years – and full recovery within three to five years.
  • Today, companies like Disney caught in a politically focused crisis are seeing reputation in sustained decline – with deep partisan divisions among consumers. Disney’s political polarization index between Republicans and Democrats, for example, went from 2.6 in 2019 to 19.3 this year.
  • With the 2024 election season in full swing, the business and reputation environment will become even tougher – especially for communicators and marketers.
  • Trust is under pressure: 59% of Americans say current economic conditions are being misrepresented due to the upcoming election cycle, and 53% say the news media report on the economy inaccurately.
  • Even the words companies use to communicate are being scrutinized: 58% of Americans believe the term “ESG” divides people more than it brings them together. “Sustainability” is less polarizing – with 27% believing the term has the potential to divide.
  • To help businesses navigate the road ahead, Stagwell’s Risk and Reputation Unit is conducting off-the-record, in-person briefings in New York, Washington, D.C. and Chicago next month for C-suite executives seeking intelligence about business risks heading into the 2024 election. To join one of the forums, send us an e-mail.

 

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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 (fielded Aug. 11-13):

WEEKLY WORRIES ABOUT ECONOMY MIXED

Today, 87% of Americans are concerned about the economy and inflation – up 4 points from last week and higher than December’s 82% rate.

  • 80% worry about a potential U.S. recession (up 3 points)
  • 70% about affording living expenses (down 3 points)
  • 74% about political divisiveness (down 3 points)
  • 83% about U.S. crime rates (no change)
  • 70% about the War on Ukraine (up 2 points)
  • 52% about a new COVID-19 variant (down 5 points)
  • 48% about losing their jobs (down 8 points)

 

80 IS TODAY’S DEFINITION OF “OLD”

A new era of aging is upon us, and what’s old is new again, according to The Harris Poll’s “New Age of Aging” report.

  • While age 60 was considered “old” in many peoples’ grandparents’ time, 80 is the median age considered “old” today.
  • 79% of adults 50+ think today’s older adults are more active, and 58% say they are more open-minded and curious compared with the previous generation.
  • Vocabulary also is starting to reflect this shift: 69% of U.S. adults 50+ find the term “longevity” more appealing than “aging.”
  • 83% of U.S. adults 65+ say it’s more important for them to feel useful than youthful in their retirement years.
  • 71% say the best time of their lives is right now or in front of them.
  • 66% of Americans age 50+ see retirement as a new chapter in life, while only 16% say it’s principally a time for rest and relaxation.
  • 59% of pre-retirees and retirees say they want to work in some form in retirement.

 

62% OF HIRING MANAGERS PLAN TO HIRE BY YEAR END

Despite continuing economic challenges, businesses across the country remain in hiring mode, according to our Harris Poll research with Express Employment Services.

  • 62% of hiring managers say their companies plan to hire additional workers before the end of 2023.
  • 52% said additional employees are needed to manage higher volumes of work.
  • 48% said their companies have newly created positions to fill.
  • 42% cite needs to fill open positions left by employee turnover.
  • 28% say they need more help after expanding into new markets.
  • However, some hiring managers also report reluctance in taking on new hires: 20% say they would likely wait to see how workloads shake out in coming months before making any hiring plans.
  • 17% say they will put off hiring until after the economy returns “to normal.”

 

CHILDCARE MORE IMPORTANT THAN HEALTH INSURANCE TO GEN Z

Once a niche perk, child care benefits are now essential in employers’ efforts to attract and retain employees, especially Gen Z talent, based on our Harris Poll survey with KinderCare.

  • Gen Z parents (30%) rate childcare benefits slightly above health insurance (29%) when considering whether to stay or leave their current job.
  • Millennials, Gen X and Boomers rate health insurance as most important.
  • 43% of Gen Z parents would switch jobs for financial assistance to cover childcare costs – compared with Millennials at 33%, Gen X at 26% and Boomers at 21%.
  • 52% of Gen Z would switch jobs for on-site childcare.
  • 36% of Gen Z parents have accepted a job that pays less but has more flexibility, and 29% have moved to a new location to find childcare.

 

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Mark Penn, Chairman and CEO, Stagwell

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Generative AI will mean a rewriting of almost all customer interfaces and this industry has barely scratched the surface of its potential. At Stagwell we believe the runway for future work will explode in the next 12-18 months and we are well prepared to push the frontiers of AI in marketing, with Stagwell Marketing Cloud already in the market with gen AI products.   

I’m proud to share an update on digital innovation at Stagwell over the past quarter. If you have questions about any of the below, please reach out to me to discuss. 

Expanding Our Market Edge with PRophet

Our PRophet product delivering generative and predictive AI for PR professionals has now signed on Alpha IR, Jive PR + Digital, Radical Company and Impact Partners in the enterprise client category and has won another PR industry contest as the best new martech product out there. We expect, by the end of the year, to be fully competitive with larger systems from Cision and serve as a full replacement. We have already deployed generative AI in the product to produce new content, briefing books and pitches, and recently released a multi-pitch tool and executive bio generator, helping communications professionals save a tremendous number of hours.    

AI in Action: Assembly Drives Big Results for Ace Hardware

 

While generative AI has taken the limelight in recent years, our media agencies have long leveraged AI to drive better client results. And even Alphabet is taking notice. Long-time Assembly client Ace Hardware’s omnichannel strategy and results were highlighted on Alphabet’s Q2 earnings call this cycle. To quote Alphabet’s Chief Business Officer Philipp Schindler about Assembly’s work: “Take Ace Hardware, who tapped into AI-powered search and omnibidding to capture increased seasonal demand leading up to Memorial Day. This drove increases across online sales, store visits, and in-store sales – resulting in 87% YoY growth in omni revenue from Google Ads and led to one of the largest revenue weeks ever for Ace store owners.” 

Helping Brands Get Smarter with SmartAssets

 

Our latest startup in the Stagwell Marketing Cloud is hitting the market fast and furiously. SmartAssets essentially uses AI to categorize content, bring it up to brand standards and point it to where it can be most effective. Or as we like to say at Stagwell: it’s a tool for getting the right message to the right person at precisely the right time. With AI-powered asset categorization, performance analytics and instant creative adjustments, SmartAssets helps brands better optimize production and overall media performance. And big brands are itching to put it to use; SmartAssets has already attracted the attention of a large European CPG client. Learn more about the product here.  

AI in Action: Code and Theory Taps ChatGPT for Challenger Betting Site 

 

AI transformation is a tangible opportunity to improve efficiency, harvest data insights for monetization and expand our offerings with new capabilities. For example, Tipico, a European sportsbook, came to Stagwell’s Code and Theory network to create and launch a campaign that would help them break into the mainstream U.S. sports betting industry. Right away, Code tapped into ChatGPT for persona development, a process that used to often take weeks but now took the team less than 48 hours. Code created a living persona using first-party app data, its own tools, desk research and audience interviews and trained ChatGPT on four personas that we can now have conversations with. The speed and accuracy of this AI strategy paid massive dividends, with the campaign’s Ohio-focused launch reaching 57% of its 2023 acquisition target and soaring to claim 32% share of voice in the Ohio market. Through the work, Tipico instantly became a top-five betting site in the state. 

How Will AI Transform Marketing?

 

AI will transform marketing yet again, but humans will continue to reign supreme as advertising becomes smarter and more effective. Read my thoughts on the 10 mini-revolutions in marketing that AI will bring on Forbes.com.

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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 (fielded Aug. 4-6):

WEEKLY WORRIES ABOUT ECONOMY MIXED

Today, 83% of Americans are concerned about the economy and inflation – up 1 point from last week and nearly equal to December’s 82% rate.

  • 77% worry about a potential U.S. recession (up 1 point)
  • 73% about affording living expenses (up 5 points)
  • 77% about political divisiveness (up 3 points)
  • 83% about U.S. crime rates (up 1 point)
  • 68% about the War on Ukraine (up 2 points)
  • 57% about a new COVID-19 variant (up 5 points)
  • 56% about losing their jobs (up 4 points)

 

LOVE FOR TRAVEL

With less than a month to complete summer vacations, we used the Harris Brand Platform to rank the top 10 brands with the highest brand equity scores across travel and hospitality – as part of our Travel & Hospitality report. We also looked at brands that are rising stars.

  • 85% of U.S. adults say they like to travel, and 48% plan to take a personal trip in the next six months.
  • Hilton (at 56% brand equity), Marriott (55.2%) and Holiday Inn (54%) come out on top of all travel brands overall.
  • Among airlines, American Airlines (50.4%) edges United (49.3%) and Delta (48.2%).
  • Rising stars include Marriott (with 3.5% brand equity growth in the second quarter compared with the first quarter), Vrbo (3.1% growth), Intercontinental (2.9% growth), Kayak (2.7% growth) and Booking.com (2.3% growth).
  • Americans who take at least one personal trip a year most often consider cost (66%) when selecting a travel destination.
  • Beyond cost, consumers consider the overall trip experience, including the type of destination (58%), local weather patterns (51%), “bucket list” destinations (37%), nearby entertainment options (36%) and proximity to family or friends (31%).
  • When asked which parts of air travel they would like to see improved, Americans cite ticket costs (27%), flight consistency (17%), comfort (14%) and booking flexibility (8%).

 

HOW MANY JOB INTERVIEWS ARE APPROPRIATE?

Do job interviews seem to be taking longer and involving more steps? Our Harris Poll survey with Express Employment Professionals suggests that job seekers and candidates should brace for a lengthy interview process.

  • American job seekers and employers agree that multiple interviews are necessary when filling open positions.
  • Candidates say two interviews should be enough.
  • 40% of hiring managers say candidates can expect to go through two interviews before receiving an offer.
  • Yet 15% of hiring managers say job seekers can expect to go through five or more interviews at their companies.
  • 27% become fatigued or disillusioned with a business if the interview process takes too long.

 

87% OF GEN Z EXPERIENCING MENTAL HEALTH CHALLENGES

Sociopolitical issues are causing adverse mental health effects on the country’s younger population, according to our Harris Poll research with Blue Shield of California.

  • 87% of Gen Z say they are experiencing mental health challenges regularly.
  • 58% report experiencing anxiety regularly.
  • They feel weighed down by gun violence (69%), racial and social injustice (54%), and climate change (44%).
  • 78% say they have talked about their emotions and mental health with others in the past year.
  • 71% have used resources to help address mental health challenges.
  • Yet 61% report experiencing barriers in accessing professional mental health care, saying it’s challenging to find someone they relate to and believing they cannot afford mental health care.

 

CUTTING THE ALWAYS-ON CORD

Most Americans would prefer to live in a simpler era before everyone was obsessed with screens and social media, according to our Harris Poll survey with Fast Company.

  • Asked whether they would like to return to a time before humanity was “plugged in” – with always-on internet and smartphones – 77% of Americans ages 35-54 said they would, the highest of any group.
  • Even among younger respondents with no memory of a world before social media, 63% of 18- to 34-year-olds agreed.
  • While many Americans want to unshackle themselves from the burden of constant connectivity, 90% said that being open-minded about new technologies is essential.
  • Yet more than half find keeping up with new technologies overwhelming, and the same number believe technology is more likely to divide people than unite.

 

ICYMI

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

 

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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 (fielded July 28-30):

WEEKLY WORRIES ABOUT ECONOMY DROP

Today, 82% of Americans are concerned about the economy and inflation – down 5 points from last week and equal to December’s 82% rate.

  • 76% worry about a potential U.S. recession (down 5 points)
  • 68% about affording living expenses (down 11 points)
  • 74% about political divisiveness (no change)
  • 82% about U.S. crime rates (down 2 points)
  • 66% about the War on Ukraine (down 6 points)
  • 52% about a new COVID-19 variant (down 6 points)
  • 52% about losing their jobs (down 5 points)

 

46% NOT SURE IF AI WILL BE GOOD FOR SOCIETY

Most Americans have a complicated view of AI, according to our “AI Nation” Harris Poll report.

  • 46% say they aren’t sure if AI will ultimately be good or bad for society.
  • 1 in 4 are strongly opposed to AI, believing it will be detrimental to society – a number that is consistent across age, gender, race/ethnicity, income and education levels.
  • Conversely, 29% believe that AI will ultimately be good for society.
  • Those most likely to believe AI solutions will ultimately benefit society tend to skew male (35%) over female (28%); tend to have children in the household (44% versus 24% without); and skew more toward Black (43%) than White Americans (28%).
  • 6 in 10 Americans report having knowingly used AI technologies. Those who are experimenting with and embracing AI are most likely to be using it in the realm of entertainment (programming recommendations and music selections), for ecommerce (finding products and comparing prices), in their household with smart devices or at work (to increase productivity).
  • Half of Americans have used at least one of these applications. However, when it comes to other applications, fewer are using AI in finance (16%), healthcare (19%) or travel (14%).

 

MANAGING FINANCES ADDS TO STRESS LOAD FOR YOUNG PEOPLE

Gen Z (ages 18-26) is struggling to manage finances and pay bills on time, and it’s having a negative effect on health, according to our Harris Poll survey with Funding Our Future and DailyPay.

  • 85% of the hourly workforce in the U.S. say inflation has negatively affected their finances during the past year.
  • Nearly all hourly workers (93%) find managing their finances stressful, with 71% saying the stress is having a negative impact on their mental or physical health.
  • 42% are saving less than they were a year ago.
  • The stress associated with making ends meet is especially tough for younger workers. While 61% of Gen X (ages 43-58) hourly workers report not always having enough money to pay a bill on time, nearly 79% of Gen Z (79%) and 76% of Millennial (ages 27-42) hourly workers report the same.
  • 19% of Gen Z hourly workers report turning to payday loans to handle paying bills when they don’t have the cash – compared with 6% for Gen X.
  • Gen Z also is more likely to use an on-demand pay app to get the money to pay a bill when they don’t have enough cash: 20% of Gen Z hourly workers report using an on-demand pay app compared with 8% of Millennials and 6% of Gen X.
  • 50% of Gen Z say they would benefit from being paid more frequently at work than they currently do.
  • 32% would consider leaving their current employer for one that allows them to access their pay every day, as they earn it.

 

CLIMATE CHANGE IS CHANGING HOW WE DREAM

Climate change is not only affecting the environment and the weather. It’s also changing the way we dream, according to our Harris Poll survey with TIME.

  • The majority (57%) of Gen Z and Millennials have dreamed about climate change, compared with 35% of Gen X and 14% of Boomers.
  • Most people’s climate dreams involve extreme weather or natural disasters. Also, feelings of stress (37%) and fear (36%) were reported the most when dreaming about climate change.
  • People of color are among the most vulnerable to the impacts of climate change, and it’s reflected in dreams: Half of all people of color said they had dreamed about climate change at least once in their lives, compared to 28% of White Americans.
  • Those living in the Western U.S. – where drought heat and wildfires are all worsening due to rising global temperatures – are more likely to report a climate dream (44%) compared to a third of people across the South, Northeast and Midwest.

 

ICYMI

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

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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 (fielded July 14-16):

WEEKLY WORRIES ABOUT ECONOMY STEADY

Today, 85% of Americans are concerned about the economy and inflation – the same as last week and higher than December’s 82% rate.

  • 76% worry about a potential U.S. recession (down 5 points)
  • 70% about affording living expenses (no change)
  • 74% about political divisiveness (down 1 point)
  • 83% about U.S. crime rates (no change)
  • 67% about the War on Ukraine (down 1 point)
  • 51% about a new COVID-19 variant (no change)
  • 47% about losing their jobs (down 1 point)

 

TWO-THIRDS OF AMERICANS WANT SUSTAINABILITY IN RETAIL

Rising climate concerns are reshaping retail consumers’ perceptions and beliefs, based on our Harris Poll study with Retail Brew.

  • 65% of Americans have purchased a sustainably made item at least once in the past year.
  • 63% said they must shop at retailers that prioritize sustainability.
  • 81% believe it’s challenging to shop sustainably when the prices of sustainable goods are higher.
  • 74% believe most retailers aren’t prioritizing sustainable practices.
  • 69% believe greenwashing is an issue in retail marketing.
  • 58% of Americans trust a retailer’s sustainability claims when it comes to recycling and waste practices, 54% trust sustainability claims in supply chain operations and 54% in manufacturing practices.
  • 48% will walk away from a brand if they discover it isn’t operating sustainably.

 

CAN I TAKE YOUR LAB-GROWN MEAT ORDER?

Lab-grown meat is making headlines as it begins appearing on menus – with promises of everything from cultivated burgers and bacon to lab-grown sushi and sashimi. Are Americans ready? Our Harris Poll survey with the Iowa Farm Bureau asked the question.

  • 24% of Iowa shoppers say they would try plant-based meat, and 21% might try lab-grown meat.
  • The majority say they currently would not try plant-based (76% currently say “no”) or lab-cultivated meats (79% say “no”).
  • Milk alternatives seem to garner more acceptance: 44% say they are likely to purchase plant-based imitation milk instead of real dairy milk.
  • 33% who have done so, however, won’t try milk alternatives again.
  • The survey also examined the favorability of farmers – and the report card is a good one. In fact, 93% trust Iowa farmers, 88% are confident that farmers care for their animals responsibly, and 81% feel confident that farmers are caring for the environment responsibly.

 

AMERICANS UNHAPPY WITH INSURANCE

Only half of Americans are happy with their insurance today, but they also don’t seem to be doing much about it. Our Harris Poll survey with NerdWallet showed:

  • The high cost of insurance has prompted 12% of Americans to not make a major purchase and 11% to decrease their coverage to save money.
  • Yet only 28% those who own insurance say they shopped around for lower insurance prices in the last 12 months.
  • 57% say they have seen their premiums increase in the past year.
  • 62% of Americans with homeowners insurance say their premiums have risen, and 19% say they increased a great deal.
  • 39% of Millennial insurance owners say they’ve comparison shopped for insurance during the last 12 months to lower rates, and 45% say they will do so during the next 12 months.

 

PICKLEBALL INJURIES BEING IGNORED

Pickleball is a hot trend, and it’s also racking up injuries that many people are ignoring, according to our Harris Poll survey with Orlando Health.

  • 46% of Americans prioritize their physical activity more today than three years ago, with 45% focused on good health habits and goals.
  • Yet – with pickleball causing knee, wrist and rotator cuffs injuries – 50% of people say it’s not worth seeing a doctor for a sports injury because they think will probably heal on its own.
  • 44% say it’s too much work to make a doctor’s appointment for an injury that isn’t too painful.

 

ICYMI

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

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