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:

ECONOMY + ELECTION = TOO MUCH STRESS

The future, the economy and the presidential election are creating even more stress for Americans. That’s according to the newest edition of the Harris Poll’s “Stress in America” study with the American Psychological Association.

• 77% of adults say the future of the nation is a significant source of stress, along with the economy (73%) and the presidential election (69%).
• Other stressors: U.S. politics (62%); health care (55%); violence and crime (54%); the environment (51%); global tension/conflict (51%); and gun laws and regulations (49%).
• When asked to rate stress about specific news, topics and events, housing costs (65%), mass shootings (63%), spread of false news (62%) and social divisiveness (60%) are highest.
• 41% have a hard time having a civil conversation today about politics with people who have different values.
• 61% are hopeful about change this election and that it will lead to a more inclusive society (59%).

CLIMATE CHANGE STRESSING OUT YOUNG PEOPLE

Another source of stress – especially for young Americans – is climate change, based on our Harris Poll research.

• 58% of Gen Z and 56% of Millennials say wildfires, hurricanes and other extreme weather have negatively affected their mental health in the past year (versus Boomers at 47%).
• 20% of Gen Z and 15% of Millennials say these events had a significant negative impact on their mental health (versus Boomers at 9%).
• Gen Z (65%) and Millennials (63%) also are more likely than Boomers (54%) to say mass shootings have negatively affected their mental health.
• Among those who need mental health support and do not seek it, 41% say it is because it is too expensive or their health care provider did not take them seriously (20%).

‘TIS THE SEASON TO SPEND MORE

Americans will spend $17 billion more on gifts and $46 billion more on travel this holiday season – despite being under financial pressure, based on our Harris Poll survey with NerdWallet.

• Holiday shoppers will spend $925 on average this season. Parents are the biggest spenders –averaging $1,070, versus $860 for non-parents.
• 28% of shoppers still have not paid off balances from last year.
• 28% of 2023 holiday travelers who put flights and hotel stays on a credit card still have not paid off the balances.
• This year’s holiday shoppers plan to shop the sales: 39% on Black Friday and 36% on Cyber Monday.
• 15% completed the majority of holiday shopping during the mid-summer and fall sales.
• Due to financial pressures, 28% will spend less per person on gifts this year, and 27% will purchase gifts for fewer people.
• 22% have discussed limiting holiday gift spending this year with friends and family.
• 11% plan to regift for the first time, and 12% will purchase secondhand gifts.
• 55% say that the costs associated with holiday shopping is a major source of stress.
• 40% feel pressure to spend more money on holiday gifts than they’re comfortable spending.
• 10% will likely need to dip into their emergency savings to buy holiday gifts.
• As for travel, 42% will keep their usual holiday travel plans this year regardless of expense.
• 28% say traveling during the holidays is more important than the giving and receiving of gifts.
• See also: It’s October. Are you already behind on holiday shopping?

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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:

MOOD IN U.S. REMAINS STEADY

Americans’ views of how things are going remained steady last month, according to our poll with the Center for American Political Studies at Harvard University.

• 31% of Americans say the country is on the right track (compared with 30% a month ago), and 32% say the economy is on the right track (compared with 30% last month).
• 47% say their personal financial situation is becoming worse (compared with 48% a month ago), while 28% say it is improving (compared with 26% a month ago).
• 81% of registered voters say they will definitely vote in the election (Democrat: 85%; Republican: 84%; Independent: 72%).
• 14% of voters say they are still weighing their candidate choices, including 25% of Independents.
• Vice President Harris holds a 1.7-point lead among likely voters. Yet, in battleground states, former President Trump has a 2-point lead among both likely and registered voters.
• Voters believe Trump would do a better job on specific foreign policy issues like the Ukraine/Russia war (+9 over Harris), standing up to China (+13) and the Israel/Hamas war (+10), while 51% of voters believe Harris is better equipped to be commander-in-chief over Trump.
• Inflation and immigration remain the top two national issues for voters, with 46% saying inflation is most important personally (Democrat: 39%; Republican: 52%; Independent: 47%).
• See also: I ‘don’t recall any presidential race where we’ve seen these polls this close’: Stagwell’s Mark Penn

BEST REPUTATIONS IN CANADA

Hockey dominates in Canada – yet it’s the Professional Women’s Hockey League that is at the top of Harris Poll’s inaugural ranking of the 50 most reputable companies and organizations in the country.

• The PWHL is No. 1 – above traditional powerhouses like the NHL (35^th) – followed by Toyota, Samsung, Costco, Canadian Tire, Apple, Microsoft, Manulife, Sun Life and Nike in the top 10.
• Companies in sectors heavily reliant on pricing transparency – such as grocery (Loblaws), airlines (WestJet) and telecom (Bell) – see their reputations suffering.
• Unlike American banks, Canadian banks enjoy strong public confidence. All of Canada’s “Big Five” banks ranked in the top 25, with Scotiabank leading at 13th.
• In contrast, U.S. banks like Wells Fargo and Bank of America placed much lower in the American edition of the study, Axios Harris Poll 100, highlighting a significant cross-border difference in banking trust.

U.S. UNDERPERFORMS ON INFANT MORTALITY

The U.S. – one of the most developed nations in the world – is not among those with the lowest rates of infant deaths, and less than a third of Americans know about the crisis. These are among the findings of the Harris Poll’s second annual State of Maternal Health Report.

• Similar to last year, only about 1 in 4 Americans (29%) correctly state that the U.S. does not have one of the lowest rates of infant mortality among developed countries.
• 40% know that the U.S. has one of the highest rates of maternal mortality among developed countries.
• Only half of Americans (50%) and just 57% of Black Americans know that Black women are nearly three times as likely as white women to die due to pregnancy-related causes.
• 83% believe more needs to be done to make giving birth in the U.S. safer for mothers.
• 67% of women believe the current political environment has made pregnancy and childbirth more dangerous for women.
• 40% of Americans incorrectly believe that the United States has federal paid maternity leave.
• 39% of women who are currently pregnant or have ever been pregnant say they have experienced barriers to accessing the health care they needed during pregnancy and childbirth.
• The top barrier is the inability to take time off work or find childcare to be able to attend appointments (18%) followed by insurance-related issues (16%, up from 12% in 2023).

ICYMI:

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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:

POLITICS AND ROMANCE

It seems politics no longer is a taboo subject when starting to date, our Harris Poll survey finds.

• 24% of Gen Z say they have been asked about political beliefs on a first date.
• 16% admit to lying about their beliefs.
• 28% of Gen Z have broken up with someone over political beliefs.
• 48% of Millennials and 49% of Gen X have been in a serious relationship with someone who has different political beliefs.
• 56% of Republicans say they would date a Democrat.
• 43% of Democrats say they would date a Republican.

FASHION FRIENDS IMPORTANT TO YOUNG SHOPPERS

Gen Z relies more heavily on others’ opinions when fashion shopping than any other generation, according to Harris Poll’s “Apparel & Fashion Industry Snapshot.”

• 34% of Gen Z say they always or often seek out another person’s opinion about an item – higher than 29% for Millennials, 15% for Gen X and 11% for Boomers.
• 48% of Gen Z say that they feel more confident purchasing items when they shop with someone they know than when shopping alone (compared with Millennials at 32%, Gen X at 29% and Boomers at 25%).
• Gen Z is more likely to purchase a fashion item if a family member (57%), significant other (57%), friend (56%), another shopper (41%) or a store associate (35%) recommends it.
• 23% of Gen Z say they are even more likely to purchase a fashion item if an AI tool recommends it.
• Overall, 69% of U.S. adults say that they are more likely to purchase a fashion item if it is less expensive than they anticipated.
• 24% say that they rarely purchase fashion items at full price.

SLEEPLESS IN SUPPLY CHAINS

Supply chain issues were supposed to be fixed after COVID. Yet our Harris Poll survey with Prologis finds that 66% of executives today lose sleep over them.

• 86% of executives say, “rising economic and geo-political pressures are driving decisions on where to manufacture and store goods.”
• 87% say natural disasters, regulatory shifts and unexpected political events are consuming their time.
• Less than half of all executives feel adequately prepared for challenges like cybersecurity attacks (42%), technological disruptions (41%), regulatory changes (40%), labor market fluctuations (39%), trade wars (36%) or another global pandemic (34%).

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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:

MOOD OF COUNTRY STEADY

Americans’ views of how things are going remained steady last month, according to our poll with the Center for American Political Studies at Harvard University.

• 30% of Americans say the country is on the right track (compared with 30% a month ago), and 30% say the economy is on the right track (compared with 32% last month).
• 48% say their personal financial situation is becoming worse (compared with 48% a month ago), while 26% say it is improving (compared with 24% a month ago).
• The presidential horse race remains 50-50 – with both presidential candidates winning their respective party bases. Male (50%), white (54%) and rural (59%) voters favor Trump, while Black (71%), urban (57%) and college-educated (52%) voters favor Harris. 33% of independent voters say they still are weighing their final choice.
• On the issues, Harris is seen as favoring open borders, compassionate enforcement of laws, free healthcare for immigrants and electric vehicles. Trump is viewed as a stronger ally to Israel, harsher on China and more of a defender of free speech on social media.
• See also: Converse takes off among liberal consumers after Harris becomes the Democratic nominee

HIRING FROM WITHIN

Hiring managers facing budget constraints are increasingly reskilling workers to manage costs and fill jobs, based on our Harris Poll survey with Express Employment Professionals.

• 33% of hiring managers say budget constraints or the inability to hire is responsible for stagnant or decreasing hiring plans.
• Rather than recruit new candidates, 68% of hiring managers plan to reskill employees this year, an 8-point increase from spring 2021.
• Most plan to offer company-led training sessions (71%) or on-the-job training by other employees (62%).
• Some will utilize third-party training courses (46%) or artificial intelligence (16%).
• See also: Upskilling is the future’s new currency

80 IS THE NEW 60

Older adults outnumber people under 18 for the first time in American history – and what’s considered “old” is being redefined, according to our Harris Poll research with Age Wave.

• The definition of “old” has been pushed back 20 years, driven by a new breed of older adults.
• 71% of those aged 65+ believe that the best time of their lives is now or yet to come.
• 83% of adults 65+ say it’s more important to feel “useful” rather than “youthful” in their retirement years.
• 71% of adults 50+ say they would take a pill that would give them an extra 50 healthy years.

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• Join Harris Poll’s support of the Greatest American Cleanup

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:

YOUNG PEOPLE ASK, ‘CAN YOU HEAR ME NOW?’

Young Americans are feeling left out of this year’s U.S. presidential election, based on our Harris Poll survey with UNICEF.

• 53% of those ages 14 to 22 feel excluded from the U.S. political process.
• 73% say their opinions do not matter to elected officials.
• 81% feel people in positions of power do not care about what young people have to say.
• Young people believe cost of living/housing affordability (60%), immigration (39%) and global conflict (35%) are the most important issues facing the country.
• 80% think people their age can make a difference, and 64% are engaging politically in some way.

AMERICANS EATING OUT LESS AS PRICES RISE

Fast food has long been an affordable meal option for busy families. Yet 8 in 10 Americans today are noticing steep price hikes, based on our latest Harris Poll “QSR & Fast Casual Industry Snapshot.”

• 32% of U.S. adults agree that quick service restaurants (QSRs) offer affordable meal options.
• 36% say price is the most important factor when eating out.
• 81% who have ordered from QSRs at least once in the last year say prices are higher – and 41% describe prices as “much higher.”
• 35% also have noticed “shrinkflation” – reducing the quantity or size of an item without reducing the price.
• What do most consumers consider to be a fair fast-food meal price? 47% say $5-$9.99.
• Men are willing to pay more: 38% of men say that $10-$14.99 is a fair price for a full meal (compared with 29% of women).
• Price hikes are taking a toll: 45% are eating out less now than they did a year ago.
• See also: Consumers want to pay $1 for a chocolate bar, $2 for a bag of chips and $3 for a gallon of gas

1 IN 3 STALLING ON STUDENT DEBT PAYMENTS

Nearly 43 million Americans have student loan debt, and 1 in 3 are foregoing repayments in hopes of government-funded forgiveness, according to our Harris Poll survey with NerdWallet.

• 31% of student loan borrowers say they have slowed repayment of their loan, hoping the federal government will reduce or forgive the loans.
• 23% have stopped their student loan payments completely for the same reason.
• 25% say they are concerned the courts will reverse recent student loan forgiveness efforts.
• 22% say student loan forgiveness is one of the most important issues when choosing a presidential candidate.

ICYMI

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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:

BILLIONAIRES = BAD, AMERICANS SAY

Americans are falling out of love with billionaires as the demand to address inequality grows, according to our latest Harris Poll research in Fortune.

• 59% of Americans believe that billionaires are creating a more unfair society.
• 71% deem wealth inequality a severe national issue – up 5 points from 2022.
• 58% blame billionaires for accelerating inflation.
• 62% believe “America has become a backyard for rich people.”
• While 46% don’t believe in limiting wealth, 69% suggest taxing the rich – with 80% of Gen Z in favor.

EMPLOYEES VOTE POLITICS OUT OF THE WORKPLACE

A CEO’s politics is a deal-breaker for Gen Z and Millennial employees, based on our Harris Poll research with Indeed.

• 54% are uncomfortable when politics come up in workplace discussions.
• 40% of Gen Z and Millennial workers would leave their company if its CEO expressed political views with which they disagree.
• Nearly 40% of workers in the same age range also would leave their jobs due to political differences in the workplace.
• 35% admit to openly discussing politics in their workplace.
• 44% have overheard colleagues discussing politics at work.
• 34% say politics in the workplace has negatively affected team morale.
• 16% admit to avoiding colleagues who had different political views from them.
• 39% have felt pressure to conform to certain political views at work.
• 39% have been discriminated against or harassed at work for their political views.
• Even 16% who work remotely have seen signs of a colleague’s political affiliation during a videoconference, such as mugs featuring a political party logo or a campaign sticker for a candidate.

RENTING IS RISING

The trend of under-consumption is making renting more popular for everything from clothes and furniture to cars and sporting equipment, according to our Harris Poll research with Credit Karma.

• 28% of Americans rent or lease goods/services, including a car (17%), clothing/accessories (9%), electronics (8%) and furniture (7%).
• When factoring in housing, the percentage of American renters/leasers is now at 47%.
• 58% of those who rent or lease goods/services do so as a personal choice.
• What’s driving the decision to rent/lease? Top reasons include: flexibility that renting allows (35%); being better able to save money (31%); wanting to try things out first before deciding whether to make a purchase (27%); and avoiding overconsumption (21%).
• 58% who rent/lease goods or services say they find more value in renting than buying.
• 64% do not subscribe to the notion that renting translates to throwing away money.

SPORTS COACHES ARE KEY TO YOUTH CHARACTER

Nearly all parents (93%) agree that kids can learn important life skills from playing sports, yet four out of five parents also believe there is a shortage of high-caliber coaches today, based on our Harris Poll survey with youth development organization First Tee.

• 89% of parents feel character is a lost value that should be more emphasized in today’s society – 4 points higher than last year.
• 93% of parents believe children learn important life skills from playing sports.
• Parents believe coaches are essential to youth development, including teaching kids character, self-confidence, determination and leadership.
• 83% wish their child had more access to well-trained coaches.
• 94% of parents prefer coaches who have been background-checked.
• 74% of parents say their kids are involved in extracurricular activities, on par with last year.

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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:

MENTAL HEALTH NOW AS IMPORTANT AS FINANCES

When Elmo tweeted “Elmo is just checking in! How is everybody doing?” on social media earlier this year, the consensus was clear: people are struggling. Based on our new Harris Poll research with Sesame Workshop, Americans now rank mental health on par with economic stability in terms of importance.

• 1 in 3 parents say their family’s well-being is negatively affected by mental health issues – jumping to 1 in 2 for families with teens.
• 61% of parents say their family is still experiencing negative effects from the COVID-19 pandemic.
• 56% describe their fellow Americans as “anxious.”
• 55% say the average American is “kind,” and 59% feel the average American is “resilient.”
• 82% believe their well-being would improve if society were kinder.
• 8 in 10 Americans feel the news media play an important role in promoting kindness.
• 84% say it’s important to have more kindness-focused characters in children’s shows, rising to 93% of educators.
• 67% “wish my parents had been more honest with me about their mental health struggles.”
• 82% of Gen Z and Millennials “wish I had been taught more about how to understand and manage my emotions as a child,” compared with 65% of older generations.
• 63% of Gen Z and Millennials believe schools should focus on social and emotional skills just as much as academics.

KIDS EXPECT MORE INHERITANCE THAN IS COMING

More Americans are expected to turn 65 now through 2027 than in any time in history, and many of their kids have outsized expectations of an inheritance, based on our Harris Poll survey with Northwestern Mutual.

• While 32% of Millennials and 38% of Gen Z expect an inheritance, 22% of Gen X and Boomers plan on giving one.
• Cash-strapped Millennial families are the likeliest (59%) to say an inheritance is “highly critical” to their financial security.
• 75% of Gen Z and 81% of Millennials say leaving an inheritance is their single most important financial goal (versus 46% for Gen X and Boomers).

1 IN 3 WORRY ABOUT JOB LOSS

Employed job seekers increasingly fear they will lose their jobs before finding a new one, according to our Harris Poll survey with Express Employment Professionals.

• A third of employed job seekers report concerns about unexpected layoffs, up from 28% in the fall of 2023 and 24% in the spring of 2023.
• 44% say an even bigger fear is not receiving a salary increase or raise they deserve at their current company.
• 46% of employed job seekers list the top reasons for a job search as better compensation (46%), better work/life balance (41%) and better growth opportunities in their industry (41%).

ONLINE BANKS HAVE A TRUST ISSUE

A significant trust gap exists for online-only banks, based on our Harris Poll study with Apiture.

• More than half of Americans trust large or local banks and credit unions, while 35% trust online-only banks.
• 40% say they have experienced identity theft or fraud, such as data breaches that compromise personal information or phishing attempts.
• 87% say financial institutions should invest in more significant cybersecurity measures, including enhanced security protocols.
• 91% regularly review their financial statements for unusual activity or unauthorized transactions.

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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:

PARENTS EMBRACE SECOND-HAND BACK-TO-SCHOOL SHOPPING

A majority of parents bought used clothes last year, and it’s part of their back-to-school shopping this year, according to our Harris Poll research in AdAge.

• 40% of parents find styles they like while thrifting.
• 80% of parents say wearing vintage clothing is trendy.
• 7 in 10 parents of school-age children (and 67% of those who aren’t) say more brands should integrate secondhand items into their collections.
• Other money-saving approaches mentioned by back-to-school shoppers included shopping sales (52%), using coupons (32%) and seeking out free options for school supplies (22%).
• Read more: How to Master Thrifty Back-to-School Shopping

HOLIDAY SHOPPERS START EVEN EARLIER

No matter which holiday they celebrate around the world this year – from Ramadan and Christmas to Diwali – consumers are shopping earlier than ever, according to Assembly’s 2024 Holiday Preview. Among the insights:

• In the U.S., modest 4.8% growth in holiday spending is predicted – with an emphasis on everyday items. E-commerce sales will grow 9.5%, and brick and mortar sales will increase 3.7%.
• Physical stores will be important again – serving as showrooms for product demonstrations and dialogue with in-store experts.
• Black Friday will become Cyber Friday – with $14 billion in e-commerce sales that day alone.
• One-third of holiday shopping will begin in October.
• Consumers can expect deep discounts well before Halloween since there are only 27 days between Thanksgiving and Christmas.
• Specialized stores are seeing the strongest growth as the 2024 holiday season begins – with 4.3% year-over-year growth last quarter, followed by clothing (+3.8%) and electronics (+2.2%). Decliners are home and furniture (-4.4%), and building materials (-2.3%).
• In other parts of the world, UK consumers are the most optimistic entering the holiday season – with 46.8% expecting better personal finances during the next 12 months, compared with 37.6% in Germany and 29.7% in France.

AI HAS A TRUST ISSUE

Americans are skeptical of the U.S. government’s current approach to AI regulations, based on our Harris Poll research with Collibra.

• 76% support federal regulations to oversee the technology’s evolution (75% for state regulations).
• The biggest threats Americans cite as necessitating AI regulation include privacy concerns (64%), safety and security risks (64%), misinformation (57%), and ethical use and accountability (57%).
• Among business decision-makers, 88% have “a lot” or a “great deal” of trust in their own companies’ approach to AI regulations.
• Decision-makers at large companies (87%) are more likely than those at small companies (55%) to trust AI today.

GEN Z UNWARE OF FOOD RECALLS

Young consumers who rely on social media for news are missing information on critical food recalls, according to our Harris Poll survey with Fast Company.

• Boomers were most likely to hear about food recalls in the past year (69%), followed by Gen X (52%), Millennials (39%) and Gen Z (26%).
• Millennials (47%) and Gen Z (42%) were far more likely to say they would avoid a retailer associated with a recall than Boomers (28%).
• 72% of consumers say they feel informed about the quality of the food they buy (64% for Gen Z and 76% for Boomers).

MYTHS AFFECT HOME-BUYING

Buying a home can be daunting, yet many misconceptions are causing unneeded fear, based on our Harris Poll study with KB Home.

• 54% of Americans believe mortgage rates are at an all-time high. (They’re not).
• 56% can identify the meaning of APR.
• 54% know what PMI is – with Gen Z and Millennials least likely.
• Only 36% know that a minimum down payment of 20% is not required to purchase a home.
• Only 28% know someone could qualify for a mortgage with a credit score in the 500s.

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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:

MOOD OF COUNTRY IMPROVES

Americans’ views of how things are going improved from last month, according to our poll with the Center for American Political Studies at Harvard University.

• 30% of Americans say the country is on the right track (compared with 28% a month ago), and 32% say the economy is on the right track (compared with 29% last month).
• 48% say their personal financial situation is becoming worse (compared with 52% a month ago), while 24% say it is improving (compared with 23% a month ago).
• Regarding the presidential election, 79% approve of President Biden’s decision to not run again, and 55% approve of his endorsement of Vice President Harris.
• Compared with June, more Democrats say they would vote for the Democratic candidate (+5 points), and fewer Independents are unsure of whom they would vote for (-10 points).
• On the other side, 89% of Republicans and 79% of Independents support GOP platform initiatives like protecting Social Security and Medicare, ending inflation, and stopping violence and crime.

HELP WANTED – PARENTS

Parenting should pay $60,000 a year, according to our Harris Poll survey with Skylight.

• Parents of minors say managing a household consumes 63% of their brain space on a given day and totals as much as 30 hours per week.
• This time and intensity are the equivalent of $60,000 per year if parenting were a paying job.
• 81% of parents say a family scheduling issue has affected them at work.
• 58% spend more time managing parenting logistics than experiencing the joys of parenting.
• More mothers (78%) are the default parent than fathers (58%) – and they also are the first to be contacted by schools (80% for mothers versus 60% for fathers) and children themselves (86% for mothers versus 62% for fathers).
• Even in dual-income households, mothers are the primary caregivers (64% for mothers versus 40% for fathers).

SOCIAL MEDIA ‘DE-INFLUENCER’ TREND GROWS

The trend of social media users revolting against influencers is affecting consumer buying habits, according to our Harris Poll study with Credit Karma.

• 38% of Americans have purchased products advertised on social media in the past year.
• 69% say they have been “de-influenced,” meaning they have chosen not to purchase items on social media.
• The top reason is lack of trust in influencers promoting products (32%), followed by too many counterfeit products (28%), social media overconsumption (26%) and being overwhelmed by how many products are advertised on social media (19%).
• More Gen Z consumers (88%) have been de-influenced, with 38% attributing it to unhealthy levels of overconsumption.

BUSINESS LEADERS WANT BETTER THOUGHT LEADERSHIP

While 90% of executives are hungry for thought leadership for their business, only 20% find efforts today to be effective, according to the Harris Poll’s new thought-leadership report.

• 90% of business leaders consume thought leadership themselves, and 93% view it as “an indicator of a category or industry leader.”
• 92% want thought leadership to attract new customers, talent or investment.
• Yet 83% feel most thought leadership today does not have a measurable impact.
• For better thought-leadership: 79% believe it should include more third-party validation; 94% believe custom research makes it stronger; and 86% say it needs to be more creative with new ideas that show how the company is “seeing around corners.”

ICYMI

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

• Playtime is Over: Google Ends the Privacy Sandbox Experiment
• Four Things Marketers Should Know About Gaming
• Survey shows smartphone app coupons used twice as much as paper circular coupons
• Cost-conscious Gen Z shoppers look to Costco for supersized savings
• Ragan and HarrisX unveil 4th annual CEO/CCO Perceptions Survey

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:

OLYMPIC VIEWERSHIP GOING FOR THE GOLD

The 2024 Olympics games are here, and Americans are tuning in, based on the latest Sports Momentum Index from Allison and The Harris Poll.

• 77% plan to watch or follow Olympic coverage – via broadcast TV (48%), streaming (33%) or social media (33%).
• The most popular sports for Americans to watch (in order): Gymnastics, swimming, basketball, track & field, diving, volleyball, beach volleyball, soccer, boxing and tennis.
• New Olympic sports also are generating strong interest: 32% are interested in watching breaking, 36% surfing, 37% skateboarding and 26% sport climbing.
• Olympian Shaun White’s launch of the Snow League last month is turning heads.
• American professional sports with the highest scores on July’s Sports Momentum Index are: National Football League (62.07 – up 7.7 points from February); World Surf League (55.77 – up 1.4 points); Major League Baseball (55.66 – up 6.9 points); Snow League (55.66 – new); and Professional Women’s Hockey League (54.02 – down 2.6 points).
• See also: Olympic viewership and the launch of Shaun White’s Snow League

YOUNG VOTERS SEE GENERATION GAP

Americans today believe older leaders cannot fully comprehend the needs of younger generations, based on our Harris Poll “The Next Big Think!” research.

• 78% of Americans believe many political leaders are too old to accurately represent the desires of younger Americans.
• 67% believe older generations are blocking the way for younger leaders (71% for Gen Z, 74% for Millennials, 68% for Gen X and 56% for Boomers).

ONLY 1 IN 5 CONFIDENT ABOUT RETIRING

While many issues dominate the upcoming presidential election, our Harris Poll survey with Transamerica Institute shows U.S. workers are more concerned than ever about retirement.

• Only 20% of Americans say they are very confident they can fully retire with a comfortable lifestyle.
• 73% are concerned that Social Security will not be there for them when they retire.
• Workers’ top requests for policy-makers: addressing Social Security’s funding shortfalls (58%); dealing with Medicare’s funding shortfalls (46%); and ensuring all workers can save for retirement in the workplace (45%).

ICYMI

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

• Latest on the election: Harvard CAPS / Harris Poll webinar Monday, July 29
• Gen Z takes pride in finding music on their own
• 20 brands capturing Gen Z’s attention right now
• Latinos say they’re used as political pawns by politicians