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 Jan. 27-29):

ECONOMIC WORRIES MIXED:

Today, 87% of Americans are concerned about the economy and inflation – up 1 point from last week and up from 82% in December.

  • 82% worry about a potential U.S. recession (down 1 point)
  • 81% about U.S. crime rates (up 1 point)
  • 75% about political divisiveness (up 4 points)
  • 69% about the War on Ukraine (up 1 point)
  • 66% about affording their living expenses (down 5 points)
  • 58% about a new COVID-19 variant (down 2 points)
  • 42% about losing their jobs (down 7 points)
PARENTS WANT CHILDCARE SUPPORT AT WORK:

Parents increasingly feel unsupported in the workplace and expect more childcare support from employers and the government, based on our new Parent Confidence Report with KinderCare.

  • 61% of working parents say there is a disconnect between the level of support they need and the benefits their employer provides.
  • Childcare benefits are the second most important reason for parents staying at their current job – with 18% ranking them as the most crucial benefit – behind health insurance.
  • More than half of working parents would stay at their current job if their employer provided childcare benefits, such as pre-tax benefits, emergency/backup childcare and on-site childcare.
  • 70% of parents say childcare is at a crisis point in terms of accessibility and affordability.
  • 66% believe the government should offer universal childcare to all children, from birth to kindergarten.
1 IN 10 LOOKING FOR NEW HOME, BUT WITH UNREALISTIC PRICE EXPECTATIONS:

For the fifth year in a row, most Americans (83%) say buying a home is a priority. Yet, in our latest survey with NerdWallet, high mortgage rates and a seller-friendly housing market prove to be obstacles – along with unrealistic home price expectations.

  • 11% of Americans say they plan to buy a home in the next year.
  • Prospective buyers hope to spend $269,200 on average. This is significantly lower than the typical home price of $379,100.
  • 32% of Americans feel worse about their ability to purchase a home in 2023 than in 2022 (a 7-point increase from last year).
  • The top reasons for the more negative outlook include a worsening economy (58%), higher mortgage rates (57%) and higher home prices (57%).
  • 67% of Americans say a housing market crash is imminent in the next three years.
INVESTORS RETHINK RETIREMENT PLANS:

Turbulent market conditions and rampant inflation have forced investors to consider working after retirement, based on our survey with Nationwide.

  • 69% of non-retired investors say post-retirement employment could lie ahead.
  • 44% of these investors inclined to keep working say they’ll have to supplement their retirement savings or income out of necessity.
  • 40% of non-retired investors plan to move to a different city or region after retiring, with the most common reasonings being lower cost of living (43%) and lower taxes (34%) – far ahead of being closer to family (22%).
  • 49% of non-retired investors with a financial advisor are “very nervous” about spending down their retirement savings in today’s current market environment.
LACK OF TRUST OVERSHADOWS NEW AI TOOLS:

Businesses might need to slow their roll when it comes to adopting AI tools like ChatGPT and DALL-E2, according to our latest study with AdAge.

  • 52% don’t trust AI tech.
  • 54% are familiar with generative AI tools, and nearly a fifth have used one.
  • 67% of Americans are concerned about the safety of generative AI technology.
  • Only 29% said they have not used generative AI nor are they interested in doing so.
  • Less than half (44%) say that it is easy to tell the difference between something created by AI and something created by a human.
  • 58% think things created by generative AI tools are less impressive than things created by people.
ICYMI:

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

 

As always, if helpful, we would be happy to provide more info on any of these data or insights. Please do not hesitate to reach out.

 

Thank you.

 

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By: Mark Penn 

Originally Published on: Barron’s

About the author: Mark Penn is chairman and CEO of Stagwell, a technology-based global marketing services firm.

Technology’s Wild West era is coming to an end. For decades, American policy has been hands-off technology to let it grow and innovate. On the eve of the dawn of artificial intelligence and the metaverse, the bad taste consumers have of social media and its divisiveness suggests that more aggressive regulation is just around the corner.

The recent round of layoffs won’t do much to staunch consumers’ fears that technology is enabling the possibility of a surveillance state. Their concerns will accelerate movement on tech privacy, censorship, anticompetitiveness, and national security legislation in the U.S. and abroad in 2023.

Half of consumers in America fear that technology will undermine their personal freedoms over the next decade, and 70% worry that tech will give more power to big corporations. The younger generations are particularly suspicious of Big Tech. Elon Musk gave some journalists access to Twitter’s records after he bought the social company. The reports they produced, known as the Twitter Files, were a damning revelation that government officials were pulling the strings behind the curtain and that the tech companies were willingly obedient much of the time.

In a recent Harvard-Harris Poll, 70% of voters now support a national law to prevent corporate censorship. The saving grace for the tech industry may be that many Democrats believe that they have been benefiting from the censorship and will oppose such a law, not understanding that what goes around comes around. They will regret blocking this legislation when they believe that they are the ones being censored. I expect this to be a significant issue in the 2024 campaign.

If Big Brother colluding with Big Tech keeps consumers up at night, the thought of TikTok being a Trojan horse for Chinese influence and spying is catnip for Congress seeking to look tough on China. Before the close of the year, leaders let loose a rash of state-based restrictions on the use of the platform by government officials. The House banned its members and staff from downloading the app. TikTok has dozens of trends working against it: Democrats and Republicans are largely aligned on the need to curb China’s influence, the Biden administration’s negotiations with TikTok have stalled, and difficult news continues to leak that employees at TikTok have misused the app, most recently to spy on journalists. The company has said it doesn’t share data with Beijing, and it fired staff members that it said were involved in the spying incident.

Voters might be less invested in the diplomatic implications of a TikTok ban than your senator, but rest assured that if the government enacts an outright ban, consumers will be up in arms. TikTok is the fastest-growing social-media platform in the U.S. and has been taking ad-market share from its legacy competitors. Expect a compromise that allows TikTok to operate but puts restrictions on how it can use and distribute information.

Beyond the U.S., data-privacy regulations will mature in 2023, meaning that global businesses will face more severe restrictions as they do business across borders. Countries have moved to enact data-privacy regulations since the implementation of the European Union’s General Data Protection Regulation in 2018, and now more than 100 have rules in place, according to Forrester. By 2024, an estimated 75% of the world’s population will be covered under modern privacy regulations.

The good news is that businesses have tracked the “will they, won’t they” drama around Google’s plan to phase out user-tracking “cookies” long enough that they’ve found solutions to replace the tool—and have adjusted data-privacy standards. But a more bullish Federal Trade Commission, with a renewed focus on “harmful commercial surveillance and lax data security,” will mean that it isn’t time to rest on laurels. It’s unlikely that the U.S. will get a national standard like the proposed American Data Privacy Protection Act. But expect the FTC to oppose virtually any merger-and-acquisition activities in tech, even if the government loses its cases.

The impulse isn’t uniquely American. The EU is also taking anticompetitive action against tech giants with the adoption of the Digital Markets Act, which aims to curb the market power of dominant digital companies. We have yet to see alignment on comparable federal efforts in the U.S. but the FTC’s recent intervention into Microsoft’s Activision deal hints at more to come. The FTC will take on Google, too, for alleged anticompetitive practices, in September.

Big Tech remains a critical engine of economic opportunity and innovation. But once it began carrying news and political speech, the industry crossed a line that put it in politicians’ crosshairs. This eroded their traditionally loyal Republican free-market supporters as the Democrats were moving further to the left, taking on a more anti–big business flavor. The combination of these trends just may result in the first major year of regulation of the industry.

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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 The Harris Poll, a Stagwell agency.

ECONOMIC WORRIES MIXED:

Today, 86% of Americans are concerned about the economy and inflation – down 2 points from last week and up from 82% in December.

  • 83% worry about a potential U.S. recession (up 1 point)
  • 80% about U.S. crime rates (no change)
  • 71% about political divisiveness (down 1 point)
  • 71% about affording their living expenses (down 3 points)
  • 68% about the War on Ukraine (up 3 points)
  • 60% about a new COVID-19 variant (up 1 point)
HALF OF GEN Z SEARCH THE WEB VERSUS CALLING A DOCTOR:

More Americans know their astrology sign (66%) and credit score (58%) than their blood type (51%) or cholesterol level (20%), according to our survey with Quest Diagnostics.

  • Even fewer younger Americans know their blood type (Gen Z: 32%, Millennials: 47%).
  • Younger Americans also are relying on the internet for health information. While the majority of Americans (63%) receive health advice from healthcare professionals, only 44% of Gen Z do the same. Instead, more than half of Gen Z (52%) utilize internet searches.
  • Additionally, more than one in five Americans (22%) receive health advice from social media influencers, especially Gen Z (40%) and Millennials (39%) versus Gen X (18%) and Boomers (3%).
FREE FOOD, SUBSIDIZED COMMUTING COULD BRING WORKERS BACK TO OFFICE:

What will entice employees back to the office? It seems that free meals (63%), free beverages and snacks (58%), and subsidized commuting (46%) – especially for workers outside the U.S. – will go a long way. That said, remote working isn’t a novelty anymore. Flexibility has become a baseline expectation for many employees, according to Stagwell’s National Research Group’s new “2023: Understanding the new world of work report.”

  • We surveyed more than 4,000 people in the United States, UK, Germany and Japan to explore how workers around the world have been navigating and adapting – and what that means for businesses that want to make a flexible world work for them, their users and their staff.
  • Only 11% of respondents said they prefer working in an office full-time.
  • Yet 60% have experienced issues staying engaged while working from home, and 50% have experienced a home technical issue – with tech issues growing since the start of COVID.
  • Employees are hungry for new at-home tech, including hands-free screens (69%), interactive learning/skills development (66%), virtual assistants (59%), and 3D object identification and training (52%).
AMERICANS LOOK LOCALLY TO SOLVE HOMELESSNESS:

Americans believe it’s up to local governments to fix homelessness, based on our survey with Grid.

  • 42% believe local governments should lead in addressing homelessness, followed by state government (26%), federal (14%), private sector (11%) and individuals (7%).
  • Yet, when asked how they expected homelessness to evolve in their area in the next five years, only 17% said it would get better, 41% said it would stay about the same – with rural Americans (34% say things will get worse) having the bleakest outlook.
ICYMI:

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

As always, if helpful, we would be happy to provide more info on any of these data or insights. Please do not hesitate to reach out.

 

Thank you.

 

 

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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 The Harris Poll, a Stagwell agency.

Among the highlights of our weekly consumer sentiment tracking (fielded Jan. 13-15):

ECONOMIC WORRIES EDGE BACK UP:

Today, 88% of Americans are concerned about the economy and inflation – up 4 points from last week and the same level as two weeks ago.

  • 82% worry about a potential U.S. recession (up 1 point)
  • 80% about U.S. crime rates (no change)
  • 74% about affording their living expenses (up 2 points)
  • 72% about political divisiveness (down 5 points)
  • 65% about the War on Ukraine (down 7 points)
  • 59% about a new COVID-19 variant (down 1 point)
  • 48% about losing their jobs (down 2 points)
THE OPPOSITE OF QUIET QUITTING:

What’s the opposite of quiet quitting? Seems that “quietly up-working” is the new thing. Our poll with Yoh signals a willingness among some employees to prove their worth and ensure job security in the face of economic and workplace downturns.

  • Today, 48% of Americans are worried about losing their jobs.
  • 29% say they are more likely to go above and beyond by taking on a new project, learning new skills or undergoing additional training to position themselves as an asset to their employer.
  • 22% are willing to work more hours than are required of them without receiving additional compensation.
  • At the same time, 23% are just as likely to consider working for a new company as staying at their current organization.
  • 29% are more likely to seek work outside their current to supplement their current income.
DO IN-OFFICE EMPLOYEES HAVE THE EDGE?:

Do in-office employees have an advantage over their working-remotely counterparts? Most Americans think they do, according to our survey with the American Staffing Association.

  • 56% believe employees who work exclusively in-office have a competitive advantage over their fully remote counterparts when it comes to raises, bonuses and promotions.
  • Despite this, less than half (48%) of workers report they are working completely in-person, 28% are working on a hybrid schedule, and 24% are fully remote.
  • 51% of women employees said they work fully on-site, compared with 44% of men.
  • Employed parents (33%) of children under the age of 18 were more likely to work a hybrid schedule, while the majority of those without minor children work on site full-time (51% versus 43% remote).
  • 46% feel pressured to work during their time off.
  • 44% would be willing to take a pay cut if it meant they had greater freedom to work remotely.
  • 40% are worried about layoffs at their company during the next six months.
KITCHEN NOW MOST LOVED ROOM IN THE HOUSE:

COVID transformed kitchens into workspaces, study halls and entertainment centers for cooped-up families – and made them the most popular room in the house, according to our survey with Bertazzoni.

  • Three out of four homeowners (75%) say they use the kitchen more than any other room in their home.
  • What are homeowners looking for in a new kitchen? 84% want sustainable products.
  • Some also want bling – with “prep kitchens” becoming one of the hottest new premium kitchen trends. Overall, 42% of homeowners saying they would want a second kitchen in their home if money were no object.
  • That jumps to 61% among those aged 18 to 44.
ICYMI:

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

As always, if helpful, we would be happy to provide more info on any of these data or insights. Please do not hesitate to reach out.

 

Thank you.

 

 

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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 The Harris Poll, a Stagwell agency.

Among the highlights of our weekly consumer sentiment tracking (fielded Jan. 6-8):

ECONOMIC WORRIES MODERATE:

Today, 84% of Americans are concerned about the economy and inflation – down 4 points from last week.

  • 81% worry about a potential U.S. recession (down 3 points)
  • 80% about U.S. crime rates (down 4 points)
  • 77% about political divisiveness (no change)
  • 72% about affording their living expenses (down 3 points)
  • 72% about the War on Ukraine (down 1 point)
  • 60% about a new COVID-19 variant (down 1 point)
  • 50% about losing their jobs (down 4 points)
IN-PERSON SHOPPERS RETURN:

Nearly half of Americans are looking for a bargain – and more are planning to shop in person this year versus last. Those are among the insights in our survey with DailyPay and Dollar Tree.

  • 44% are more likely to prioritize shopping for bargains in store compared to last year.
  • Overall, 67% of Americans plan to spend either the same or more in 2023 as they did in 2022 on retail purchases.
  • 73% plan to shop the same or more in person this year.
  • When it comes to Americans’ preferences regarding purchasing items in-store versus online: 81% prefer in-store for furniture, 69% in-store for home goods, 65% in-store for apparel, 65% in-store for sporting goods and 59% in-store for electronics.
NOT YOUR PARENTS’ RETIREMENT:

To most Americans, retirement is not their parents’ retirement. Rather than a destination, it’s become a new journey, based on our survey with Edward Jones and Age Wave.

  • 55% of pre-retirees and retirees ages 45 and older say that retirement today is best described as “a new chapter in life” versus the 27% who view it as “a time for relaxation.”
  • When asked how today’s retirees view their parents’ retirement, 42% said it was “a time for relaxation” and only 22% described it as “a new chapter in life.”
  • Half of retirees say they are “reinviting themselves in their retirement,” particularly women (53% versus men at 47%).
  • 72% say they are now “able to realize their hopes and dreams.”
  • At the same time, retirement isn’t without worries: Pre-retirees and retirees ages 45+ are worried about their physical health (49%), healthcare costs (34%), unexpected expenses (32%) and economic conditions (32%).
DRY JANUARY GROWS:

Dry January continues to grow in popularity – with better health and weight loss the prime motivators, according to our survey with Go Brewing.

  • 79% of Americans who consume alcohol said they considered participating in Dry January this year.
  • The top motivators include a desire to be healthier (52%), lose weight (35%) and the ability to focus better on personal or work goals (33%).

 

AIR TRAVEL TURBULENCE:

Southwest Airlines has some work to do to repair its reputation after cancelling flights during the busy holiday travel season, our survey with AdAge

  • 45% of Americans have a worse opinion of the airline since before the meltdown.
  • That dissatisfaction rises to 52% among people who have recently traveled with Southwest.
  • 41% of respondents say they are less likely to travel with Southwest now compared to before the mass cancellations
ICYMI:

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

 

As always, if helpful, we would be happy to provide more info on any of these data or insights. Please do not hesitate to reach out.

 

Thank you.

 

 

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SIGN UP FOR OUR INSIGHTS BLASTS

“We have the technology!” Now: what will your brand do with it?  With CES 2023 in the rearview mirror, we’re looking to see how technology can provide outsized business results for CMOs while helping their brands transform society for good. The devices on the CES floor this year proved we’ll only see more convergence between marketing and tech transformation in the years to come.

Here’s what CES suggests about the year ahead for brand leaders: 

‘COME TOGETHER’ ISN’T JUST A BEATLES SONG – IT’S THE MISSION FOR BRAND ECOSYSTEM IN 2023 

More technology exists than ever before to ensure every digital touchpoint your consumer encounters conveys a consistent and authentic brand experience. Now it’s on CMOs and CTOs to collaborate closer than ever before, unleashing true connected brand experiences at scale. Wearable technology and ever-more-immersive entertainment experiences are opportunities to get this right – but challenges for brands who haven’t yet asked themselves: have you set a plan for unifying online and offline brand, marketing, product, and customer experiences? 

2023 IS THE YEAR FOR AI, BUT DON’T OVERDO IT

AI is the tech darling of 2023, and for good reason. We’ve quickly seen it evolve from basic communication and assistance on tasks to understanding your routine, predicting your behavior, and getting you a C+ on your English paper. OpenAI and other lay-consumer-friendly tools will power an AI-knowledge revolution in 2023. But while AI is great for providing creative activation energy and can get you 85% of the way there, the last 15% requires the near-impossible-to-duplicate human element.

Brands and agencies will need to responsibly blend talent + technology together in 2023 to make AI an effective addition to the marketing tech stack. 

‘COMMUNITY’ IS WHAT CONTENT WAS FOR BRANDS A DECADE AGO

From Stagwell’s own experiments in shared augmented reality, to new social platforms that let friends share content and buy and sell NFT art, brand experiences are starting to hinge on the ability to connect consumers to one another. Community is the new driver of commerce; look out for more brands using technology as a platform to create engaging, 3D and 360 marketing experience for more than one consumer. 

Live from the Stagwell Content Studio @ CES 2023

Stagwell’s Content Studio returned at CES, delivering behind-the-scenes interviews with C-Suite execs at the world’s most ambitious brands on the trends and transformations they’re tracking at CES.  

In this episode, Wells Enterprises Chief Commercial Officer Santhi Ramesh talks data anonymity, immersive experiences, and using robotics to drive automation with Stagwell President, Global Solutions, Julia Hammond.

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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 The Harris Poll, a Stagwell agency.

Among the highlights of wave 142 (fielded Nov. 11-13) in our weekly consumer sentiment tracking:

WORRIES MODERATE ACROSS THE BOARD:

Today, 86% of Americans are concerned about the economy, inflation and jobs – down 2 points from last week. In fact, all worries we track moderated this week.

    • 83% worry about a potential U.S. recession (down 1 point)
    • 80% about U.S. crime rates (down 4 points)
    • 72% about political divisiveness (down 3 points)
    • 71% about affording their living expenses (down 5 points)
    • 70% about the War on Ukraine (down 2 points)
    • 56% about a new COVID-19 variant (down 3 points)
    • 45% about losing their jobs (down 3 points)
    • 40% about the Monkeypox outbreak (down 4 points)
INFLATION KEEPS GEN Z LIVING AT HOME:

Inflation and uncertain economic times are keeping more than half of Gen Z living at home with their parents, according to our study with DailyPay.

    • 54% of 18-to 25-year-olds have made the choice to live with their parents given the current economic climate.
    • Only 28% say they are typically able to pay all of their bills on time.
    • 80% feel the economy will either stay the same or decline during the next 12 months.
    • 41% are worried it will be tougher to pay bills due to high inflation, and 38% are concerned it will make buying staples/food more challenging.
    • 78% say they have been able to save less money.
    • One solution: 72% of employed Gen Z members say having access to their pay every day – as opposed to waiting until a scheduled payday – would help them pay bills on time.
LARGE NUMBER OF AMERICANS NOT CONVINCED RACISM IS AN ISSUE:

Despite the toll the pandemic and its economic fallout have had on communities of color during the last two years, more than 40% of Americans today are not convinced that systemic racism exists, according to our “The State of Equity In America” report with U.S. News & World Report.

    • In fact, nearly a quarter of Americans believe there absolutely is not systemic racism in America, while another 17% are unsure.
    • Nearly half (47%) of White Americans remained unconvinced.
    • More than 80% of Black Americans believe it does, as well as more than 70% of Asian or Pacific Islanders and nearly 70% of Hispanics.
    • For business: Only about one fifth to one quarter of respondents believe companies have put in a “very good effort” during the past two years to advance racial equity.
    • Both White Americans and people of color have less trust in government to make meaningful changes in advancing equity and more faith in small businesses, nonprofits, and educational and health care entities.
    • Among people of color, 73% trust small businesses to some degree to advance equity – the highest level of support given to a range of institutions that also included corporations and religious groups – as do 78% of White Americans.
MORE THAN HALF OF AMERICANS READY TO BUY AN EV:

The scales continue tipping toward electric vehicles – with 51% of U.S. adults saying they would like to buy an electric vehicle as their next car, according to our survey with Protocol.

    • Millennials are the most likely to be ready, with 61% saying they want an EV.
    • 72% of all people think EVs will become more common than traditional gas-powered vehicles in their lifetime.
    • We also surveyed consumers on their attitudes toward public transit as an alternative mode of transport. A quarter of all respondents report regularly using public transportation, with the largest segment in the Northeast.
    • 64% view public transportation where they live as trustworthy.
    • 38% of U.S. adults are less willing to use public transportation post-COVID, including 44% of Northeast residents.
    • 46% of Gen Z respondents are less willing to use public transit as a result of the pandemic.
CHARITIES INSULATED FROM INFLATION CUTBACKS:

One in four Americans are increasing charitable giving due to inflation, according to our survey with Vanguard Charitable. In addition, more than half (60%) of American donors say rising inflation is having no impact on their giving.

    • 45% of American donors have an annual charitable giving budget, similar to the year prior (44%).
    • 74% of Americans donated to charity in past 12 months, with younger Americans (ages 18-44) being more likely to say they donated more money than they normally would as a result of inflation, compared to older Americans (ages 45+) (18% for younger versus 8% for older).
    • 86% of Americans who have a charitable giving budget say it is important for them to support charities financially during times of economic uncertainty.
    • Donors who have a charitable giving budget are two times more likely to say they plan to give more than normal compared with donors without a charitable giving budget (20% versus 10%).
ICYMI:

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

As always, if helpful, we would be happy to provide more info on any of these data or insights. Please do not hesitate to reach out.

Thank you.

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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 The Harris Poll, a Stagwell agency.

Among the highlights of wave 141 (fielded Nov. 4-6) in our weekly consumer sentiment tracking:

ECONOMY, INFLATION WORRIES TICK BACK UP:

Today, 88% of Americans are concerned about the economy, inflation and jobs – up 2 points from last week. Worries about affording living expenses, in particular, jumped significantly.

    • 84% worry about a potential U.S. recession (up 1 point)
    • 88% about the economy and inflation (up 2 points)
    • 84% about U.S. crime rates (up 2 points)
    • 76% about affording their living expenses (up 4 points)
    • 75% about political divisiveness (up 1 point)
    • 72% about the War on Ukraine (no change)
    • 59% about a new COVID-19 variant (down 3 points)
    • 48% about losing their jobs (down 6 points)
    • 44% about the Monkeypox outbreak (down 4 points)
AMERICANS REGRET NOT SWITCHING JOBS SOONER:

Job seekers regret not starting their job searches sooner, as layoffs and freezes in tech threaten to expand to other sectors, according to our survey with Bloomberg.

    • 71% of those looking to switch jobs say the job search today is more complicated than anticipated.
    • 63% say they’ve searched for a new job for more than six months, and 48% report applying to more than 50 positions.
    • 72% of job seekers say that companies are acting like they don’t want to hire, including ignoring applications and failing to schedule interviews.
    • 66% say they regret not starting the search sooner, while 63% admit it would have been easier to switch jobs a year or two ago.
    • 51% of job seekers agree that, at this point, they would take nearly any job offer.
TWITTER: A TALE OF MANY VIEWS:

In light of Elon Musk’s Twitter takeover, we find both critics and fans – something brands might want to remember as they consider pausing spending on the platform, according to our survey with USA Today.

    • Female (63%) Twitter users are less likely to support Musk’s ownership than men (70%).
    • Gen Z users also are more likely to believe Musk will hurt Twitter’s product quality (53%), freedom of the press (44%) and free speech on the internet (37%) compared with older users.
    • Both women (28% willing) and Gen Z (35%) would be less willing to pay a monthly subscription fee than men (44%) and Millennials (53%).
    • Yet 67% of Twitter users support Musk owning Twitter, especially Republicans (79%), parents with minor children (74%), urban residents (72%), men (70%) and Millennials (70%).
    • 84% of Americans find free speech on social media important, and the majority of Republicans (57%), men (56%), rural (55%) and white Americans (53%) find it “very important.”
    • Frequent Twitter users, including Republicans (42% versus Democrats at 32%), Millennials (40% versus Gen Z at 26%), men (36% versus women at 26%) and Black Americans (36% versus white at 32%) say they’ll now spend more time on the platform that Musk owns it (versus all Twitter users at 31%).
AMERICANS SAY SMART CITIES DON’T NEED AUTOMOUS TAXIS:

In partnership with Emerging Tech Brew, we found that 87% of city residents found it essential for their city to invest in emerging technologies – but not every resident supports each tech initiative equally.

    • Most intelligent city technologies – such as public WiFi access, 5G wireless access, smart traffic management, facial recognition technology and air quality sensors – has solid support from city residents. The exception is autonomous robotaxi services, which less than half support (43%).
    • Overall, Gen Z and Millennial city residents report being more aware of smart city tech, as well as much more likely to use the tech weekly compared to older residents (Gen Z 44% and Millennials 51% versus Gen X 37% and Boomers 16%).
    • Those in cities with metro areas of less than 1 million tend to view such tech as less critical than their larger-city counterparts.
    • Smaller-city residents also are less likely to view their cities as particularly innovative, with just 16% saying they find their city very innovative, compared to 43% for larger cities.
    • 48% of Boomers said they never use smart city tech, while 27% of Gen X respondents said the same.
    • That compares with only 13% of Millennials and 7% of Gen Z who say they never use smart city tech.
ICYMI:

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

As always, if helpful, we would be happy to provide more info on any of these data or insights. Please do not hesitate to reach out.

 

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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 The Harris Poll, a Stagwell agency.

Among the highlights of wave 140 (fielded Oct. 28-Oct. 30) in our weekly consumer sentiment tracking:

ECONOMY, INFLATION WORRIES MODERATE; JOB WORRIES JUMP:

Today, 86% of Americans are concerned about the economy, inflation and jobs – down 3 points from last week. At the same time, worries about losing a job jumped significantly.

    • 83% worry about a potential U.S. recession (down 2 points)
    • 82% about U.S. crime rates (no change)
    • 74% about political divisiveness (down 1 point)
    • 72% about the War on Ukraine (down 2 points)
    • 72% about affording their living expenses (no change)
    • 62% about a new COVID-19 variant (up 1 point)
    • 54% about losing their jobs (up 7 points)
    • 48% about the Monkeypox outbreak (up 4 points)
INFLATION AT THE NORTH POLE:

Eight in 10 (84%) Americans plan to buy gifts for others this holiday season, and they have set their 2022 gift-giving budget at $823, according to our survey with NerdWallet.

    • Close to a third (31%) of last year’s holiday shoppers are still in debt after using a credit card to pay for gifts they still haven’t paid off.
    • 72% of this year’s holiday shoppers will use credit cards, charging $663 on average.
    • Inflation is affecting how some shoppers approach gift-giving this year: 83% plan to adjust as a result of inflation, including giving different types of gifts compared to years past (36%) and spending less per person compared to years past (35%).
    • 43% say they feel pressure to spend more money on holiday gifts than they’re comfortable spending.
    • 68% plan to shop Black Friday/Cyber Monday sales this year.
    • 50% say they’ll spend the most on gifts while shopping these sales.
    • Still, 30% plan to use Black Friday/Cyber Monday sales to buy necessities for their home or family.
    • 67% say they will do their holiday shopping online instead of in-store this year.
OPEN ENROLLMENT BELT-TIGHTENING:

It’s healthcare open-enrollment season, and many workers are considering downgrading their health insurance because of high inflation, according to our survey with the Nationwide Retirement Institute.

    • 17% of respondents in the last 12 months adjusted their family’s budget to pay for health care expenses.
    • 12% canceled or changed health insurance.
    • 10% withdrew funds from their retirement account to pay for health care expenses.
    • 8% downgraded their health insurance plan.
    • 14% of Americans say they are considering downgrading their health insurance plan during this year’s open enrollment – rising to 23% for Gen Z and 20% for Millennials.
    • Americans also are experiencing high levels of stress around retirement and retirement planning because of inflation: 47% report their top stressor is inflation, 30% worry about Social Security running out of funds, and 29% are concerned about an unexpected decline in their health.
EMPLOYEES’ ADVICE TO HR: LESS IS MORE:

When it comes to HR tech platforms to improve the work experience, less is more, according to our survey with HR Brew.

    • On average, employees report using 3.4 HR platforms and 8.1 total HR and productivity tools in general.
    • 69% of employees with one HR platform said they felt confident they could find the information they need.
    • Confidence plummeted to 49% among those whose company has more than one HR platform.
    • In today’s economic climate, employees have an appetite for financial planning solutions (80% favorability among Millennials and 72% among Gen X) and the lowest need for new social networking tools.
INTEREST IN WOMEN’S SPORTS CLIMBING:

The popularity of women’s sports has grown by leaps and bounds – and consumers want to see the trend continue, according to Stagwell’s National Research Group’s new report, Leveling the Playing Field.

    • In the U.S., 3 in 10 sports fans say they’re watching more women’s sports now than they were five years ago.
    • The broadcast market for women’s sports grew significantly worldwide this year, thanks in part to successful events like the UEFA European Women’s Championship and ICC Women’s Cricket World Cup.
    • Even in the U.S., which didn’t compete in those tournaments, the market grew by 29% compared with 2021.
    • 85% of fans – including 79% of men – think that it’s important for women’s sports to continue to grow in popularity.
    • The Olympics proved there’s growing demand for women’s sports. During the Tokyo Games, in half of the 10 most widely viewed sports, viewership for women’s events was higher than men’s.
ICYMI:

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

As always, if helpful, we would be happy to provide more info on any of these data or insights. Please do not hesitate to reach out.

 

 

 

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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 The Harris Poll, a Stagwell agency. 

Among the highlights of wave 139 (fielded Oct. 21-Oct. 23) in our weekly consumer sentiment tracking:

ECONOMY, INFLATION WORRIES REMAIN STEADY:

Today, 89% of Americans are concerned about the economy, inflation and jobs – the same high level as last week.

    • 85% worry about a potential U.S. recession (no change)
    • 82% about U.S. crime rates (down 1 point)
    • 75% about political divisiveness (up 1 point)
    • 74% about the War on Ukraine (no change)
    • 72% about affording their living expenses (down 1 point)
    • 61% about a new COVID-19 variant (up 1 point)
    • 47% about losing their jobs (no change)
    • 44% about the Monkeypox outbreak (down 4 points)
INFLATION IS AMERICA’S #1 STRESSOR:

How stressed are Americans, and what’s causing it? The answers are clear in the 2022 Stress in America survey we conducted with the American Psychological Association.

    • 27% of Americans report being so stressed that they cannot function most days.
    • Inflation is the #1 stressor for 83% of adults. That is followed by violence and crime (75%), the current political climate (66%) and the racial climate (62%).
    • 76% say the future of the nation is a significant source of stress in their lives.
    • 68% say this is the lowest point in our nation’s history that they can remember.
    • 57% who indicated money was a worry said that having enough money to pay for things like food or rent/mortgage is their main source of stress.
    • 43% reported feeling that saving enough money for things in the future is their main source of stress.
    • 56% agreed that they and/or their family have had to make different choices due to lack of money in the past month, with Latino/a (66%) and Black Americans (59%) reporting this at a higher level than White (52%) and Asian (45%) American adults.
EMPLOYEES WARMING UP TO BACK-TO-OFFICE:

As we continue tracking return-to-office requirements, a majority of employees still say they will jump jobs if forced back to the office full-time. Yet the numbers of workers resisting return-to-office are much lower than three months ago, based on our survey with USA Today.

    • 57% of employed Americans say companies will lose employees if they require workers to be in-person (down 9 points from June).
    • 73% of remote and hybrid workers say they would find another remote or hybrid job if their company forced them to work from the office full-time (down 5 points from June).
    • In an earlier study with Bloomberg, 57% of workers said they believe that employers now have more power in the job market (a 5-point increase in favor of employers from January).
INFLUENCERS MATTER:

Nearly half of U.S. consumers consider input from influencers when purchasing a product or service – especially younger people, according to our survey with AdAge.

    • 80% of Gen Z consult user reviews before purchasing, and 75% say that recommendations from influencers affect their decision – nearly double the general population at 43%.
    • 40% of Gen Z members have made purchases directly through an influencer’s storefront on sites like Amazon and LTK.
    • 73% also report looking to TikTok creators for product input, with Instagram and YouTube influences being similarly popular choices.
BRANDS GETTING GEN Z RIGHT:

Beats by Dre, Jersey Mike’s Subs, Planned Parenthood, Lenovo and New Balance are doing the right things to capture the attention of Gen Z, according to the latest Ad Age-Harris Poll Gen Z brand tracker, a ranking of brands gaining the most attention from Gen Z members ages 18-24 in the third quarter.

    • Also doing better with Gen Z are Kickstarter, Impossible Foods, Coach, Flex Seal, Foot Locker, Pillsbury, Haagen-Dazs, Bose, Nature Valley, North Face, Crocs, NHL, Paramount, Fiji and State Farm.
    • See full details here.
ICYMI:

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

As always, if helpful, we would be happy to provide more info on any of these data or insights. Please do not hesitate to reach out.

 

Thank you.

 

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