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:

TRADE JOBS VERSUS COLLEGE

Blue-collar career paths are the latest workforce trend being embraced by Gen Z, according to a new Harris Poll study with Credit Karma.

• 45% of Americans don’t see the value in a four year college degree, rising to 52% for Gen Z.
• 78% say they’ve noticed a recent growing interest from young adults in pursuing trade careers.
• 23% who do not currently have a trade job say they plan to get into the profession – jumping to 50% for Gen Z and 42% for Millennials.
• The top factor influencing a trade career is work-life balance (43%), followed by job security and job availability (42%).
• Social media is playing a role: 10% of trade workers say seeing skilled-trade workers on social media influenced their decision to pursue a trade career.
• 1 in 10 say seeing stories on social media from people with corporate jobs who are struggling to make ends meet affected their decision.
• 61% believe a college degree will result in a well-paying job, yet 22% of those who went to a 4-year college are not making as much money as they thought they would.

NOT READY FOR RETIEMENT

Americans remain unprepared for retirement, based on our Harris Poll survey with Transamerica Center for Retirement Studies.

• 40% of Boomers are already retired, and more will leave the workforce this year than any year prior.
• Only 21% of the U.S. middle class are “very confident” in their ability to retire or maintain a comfortable lifestyle throughout their retirement.
• 40% worry they will outlive their savings and investments.
• 39% fear Social Security will be reduced or cease to exist in the future.
• These worries are casting doubt on Americans’ top retirement dreams, including: traveling (67%), spending more time with family and friends (58%), pursuing hobbies (51%), doing volunteer work (23%) and taking care of grandchildren (20%).

STREAMING VERSUS MOVIE THEATERS

Most streaming consumers still go to the movies, yet they need the promise of unique experiences to motivate them, according to new data from Roku and Stagwell’s National Research Group.

• 61% of streaming viewers say they have been to at least two movies in theaters during the past six months.
• 61% of moviegoing streamers said they would be equally interested in watching the release on the big screen or seeing it at home.
• 50% say some movies have to be seen on the big screen, such as Barbie and Oppenheimer.
• 46% go to the theater to watch a movie as a night out with friends, family or on a date.
• 43% prefer going to the theater because of the visual and audio quality.
• However, when it comes to costs, 62% say streaming is cheaper, 45% say it’s easier to watch at home, 59% like watching on their own schedule (59%), and 45% like the ability to pause and rewind at will.

ICYMI:

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

• Axios Vibes: Americans blame politicians for misinformation
• U.S. and UK Respondents Agree: Brands Can and Should Safely Advertise Alongside Quality News
• From Quiet Vacations To Coffee Badging, The Surprising Reason More People Are Lying At Work
• Stagwell CEO Mark Penn on the Future of Travel and Technology
• Tesla Germany Case Study
• European Luxury Report 2024

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:

SOCIAL MEDIA REGRETS:

American teenagers are heavy social media users, yet most see more negative than positive in the platforms, according to new Harris Poll research.

• 60% of Gen Z adults spend at least four hours a day on social media.
• 23% are online seven or more hours a day.
• 60% say social media has a negative rather than a positive impact on society.
• 52% say social media has benefited them, yet 29% say it has hurt them personally.
• 82% call social media use “addicting.”
• When asked which platforms they wished were “never invented,” X/Twitter (50%) and TikTok (47%) top the list, followed by Snapchat (43%), Facebook (37%) and Instagram (34%).
• 83% have taken steps to limit social media usage, including: unfollowing or muting an account (42%); deleting a social media app (40%); disabling out-of-app notifications (36%); and disabling in-app notifications (32%).

MILLIONAIRES DON’T FEEL WEALTYHY:

Two thirds of U.S. millionaires do not consider themselves “wealthy,” based on our Harris Poll research with Northwestern Mutual.

• 5 million U.S. individuals have more than $1 million in liquid investable assets, which is 37% of the world’s millionaires.
• Yet only 32% with more than $1 million consider themselves “wealthy.”
• 48% say their financial plans need improving.
• 78% of millionaires consider themselves disciplined financial planners (versus 45% of all Americans).
• 80% of American millionaires say they are self-made, while 11% received their wealth from an inheritance.

HONESTY IS THE BEST BOSS:

Honesty is one of the most prized traits of an effective manager, based on our Harris Poll survey with Express Employment Professionals.

• A third of employed Americans say they are working for a toxic boss.
• 92% of job seekers want honesty from new managers.
• 82% would be more loyal to their company if they could be candid with their manager.
• 69% want to feel comfortable discussing personal issues with managers if they affect work.
• 45% say there are fewer conflicts/disagreements, more accountability (45%) and employee turnover decreases (43%) when employees can be honest.

CONFIDENCE IN GOVERNMENT:

Confidence in the U.S. government has returned to levels from the early years of President Biden’s term, based on our HarrisX survey with the George Washington Graduate School of Political Management

• 48% of Americans say the presidency is working as an institution, up 7 points from last year but down from 53% in 2021.
• 39% say Congress is working as an institution, up 7 points from last year and nearly the same as 40% in 2021.
• Confidence in the Supreme Court remains largely unchanged, with 53% who say it is working as an institution.
• 70% of voters believe bipartisan support is critical for the country, yet 82% say the bipartisan system of governing right now is broken.
• 87% believe U.S. politics has become too much about fighting.
• 77% say differences between the two parties have become so great that bipartisanship on big issues no longer is possible.

HALLOWEEN IS FAVORITE HOLIDAY FOR 1 IN 4:

76% of Americans celebrate Halloween, with 1 in 4 saying Halloween is their favorite holiday, based on our Harris Poll survey with Instacart.

• 50% of Americans plan to eat Halloween candy this year.
• 46% plan to pass out Halloween candy to trick-or-treaters.
• 31% plan to dress up in a costume.
• 33% start getting into the Halloween spirit before October, 38% do so at the beginning to mid-October, and 13% wait until the week of Halloween.

ICYMI

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

• Stagwell Expands Future of News Initiative to the UK with a September 26 Summit at its EMEA Headquarters
• While curiosity and adoption of AI are rising, skepticism abounds, according to a new Ad Age-Harris Poll
• This Is Why Overscheduling Your Kids’ Activities May Be Ruining Your Relationship
• Predict What’s Possible: PRophet, a Stagwell Company, Leads Discussions on AI at PRSA ICON 2024
• Unlocking the Power of Personalized Banking: Consumer Research Insights