WHAT THE DATA SAY: 1 in 5 Americans would break up with significant other for refusing to root for their sports team

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:

MOST AMERICANS ARE LIVING PAYCHECK TO PAYCHECK

Two thirds (65%) of Americans often are living paycheck to paycheck, and 30% run out of money at the end of every month. Our Harris Poll survey with Barron’s also shows:

• 78% of Americans earning less than $50,000 a year report they live paycheck to paycheck.
• 51% of Americans who make more than $100,000 a year say they run out of money by month’s end.
• Living paycheck to paycheck isn’t new: 66% of those surveyed in March 2020 said they were spending down their wages.

COVID CASH RESERVES ARE DWINDLING

“Revenge spending” might be a thing of the past, and COVID’s cash reserves are running low, based on insights from our Harris Poll with USA Today.

• 71% of Americans built excess reserves during the pandemic.
• 59% of those savers say they’ve depleted most or all of that money.
• Among that group, 90% have pared back spending or plan to do so, compared with 62% who still have some COVID funds.
• Of those cutting spending, 65% are dining out less, 61% are cutting back on experiences, and 56% are buying fewer discretionary goods.

SPORTS TEAMS MORE IMPORTANT THAN LOVE?

A surprising number of Americans chose their sports teams over love, according to our Harris Poll survey with Vivid Seats.

• 45% of Americans say a romantic relationship is more likely to last if both partners are fans of the same sports team.
• 21% of sports fans say they would break up with a significant other if they refused to root for their favorite team.
• 1 in 10 sports fans would even miss their wedding to see their favorite team play in the playoffs or a championship game in person – and 19% would miss a medical procedure.
• 55% “feel like a different person” when in the heat of the moment at a game.
• 54% will travel hundreds of miles to see their favorite sports team.
• What is a true fan? Most say it is: someone who attends games even when their team is on a long losing streak (66%); someone who stays until the very end even when the event is clearing out (58%); and someone who will sit through an event in the pouring rain/snow to support their team (54%).

TO SPEAK OUT OR NOT TO SPEAK OUT

Companies speaking out on social and political issues continues to be one of the toughest decisions business leaders have to make – especially when most Americans worry about its authenticity, according to Stagwell’s Risk and Reputation Unit.

• 68% say, when companies speak out, it’s a marketing ploy rather than an authentic opinion.
• 59% believe there is more risk than reward in a CEO speaking out today.
• 78% say companies are getting into more controversy as they try to appease both sides.
• What should companies do, according to Stagwell research?: 77% would respect companies more if they were clear about communicating their values when speaking out – even if they disagree with them.
• 77% say companies would have a better reputation if they spoke out only on social issues that relate directly to their business.
• 84% say companies need to have a track record of acting on their values to be taken seriously.
• 80% believe what a company does for society is more important than what it says.
• 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.

ICYMI

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• GALE’s Dan MacGuire: Customer-Centric Retail Evolution: AI and Unified Commerce Take Center Stage
• Code and Theory’s Alison Hess: Substance Abuse Is Up. Marketers Could Be Making It Worse
• PRophet Expands Platform Capabilities, Unveiling New AI-Driven Influencer Marketing and News Monitoring Tools
• Ray Day on What’s Top-of-Mind at PRSA’s ICON 2023