WHAT THE DATA SAY: 48% of Americans say personal finances are declining; worst level in 2 years

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 and Allison Worldwide. Among the highlights of our weekly consumer sentiment tracking:

AMERICANS HAVE TIGHT BUDGETS AND WANT TIGHTER AI REGULATION

Our September Harvard CAPS Harris Poll finds affordability remains a growing American concern, and they support more AI safeguards.

• 56% say the country is on the wrong track, up 4 points from August.
• 57% say the U.S. economy is on the wrong track, up 1 point from August.
• 48% say their own financial situation is worse, up 1 point from August.
• Inflation and affordability remain the top personal concern for 45%, far ahead of any other issue.
• 58% favor decreasing taxes, 64% favor decreasing government spending, and 56% favor lower interest rates.
• 58% say they use AI personally today, and 55% believe it will increase economic growth and productivity.
• 6 in 10 expect AI will create tens of millions of unemployed people – up 2 points from August – and 66% say the rush to AI should slow down.
• 74% favor creating a government agency to regulate AI, and 66% say oversight is necessary to ensure safe use, even if it could slow economic growth.
• See also: Americans mostly hear about AI on social media (48%)

GIVING IS BEING PINCHED

Cost-of-living pressures are constraining charitable giving in the U.S. and UK, according to new Harris Poll research with Kiva.

• 85% of U.S. adults and 86% of UK adults say cost-of-living pressure has kept them from donating or donating more during the past six months.
• Still, 77% of Americans and 80% in the UK donated money in some form during that period.
• 74% in the U.S. and 73% in the UK say recurring donations of $25 or less feel more sustainable than one large gift.
• About 7 in 10 agree that a check alone will not solve an issue, as 71% in the U.S. and 69% in the UK say donors should also contribute time and connections.
• 74% of U.S. adults and 76% of UK adults say long-term, measurable impact matters more than immediate, short-term impact.
• Collective giving has appeal, too: 58% in the U.S. and 60% in the UK say giving as part of a group feels more impactful than giving alone.

SPORTS = BELONGING

Sports fandom is becoming more personal, as Gen Z turns to social media, athletes and community to build belonging, according to The Harris Poll’s The Self-Made Fan report.

• 65% of Gen Z sports fans say sports give them a sense of belonging, compared with just 41% of Boomers.
• 83% of Gen Z fans and 75% of Boomers say sports provide connection.
• Yet Gen Z is less likely to identify joy as a benefit of sports (60%) than Boomers (68%), suggesting fandom’s emotional role is shifting from entertainment toward identity and community.
• 28% of Gen Z sports fans say sports give them a way to express who they are.
• 68% of Americans say someone can be a real fan even if they are new to the sport.
• 32% of Gen Z say social content would make them more interested in a new sport, versus just 7% of Boomers.
• 53% of Boomers – versus 25% of Gen Z – say friends or family following a sport would make them more interested in it.

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

• Most job seekers think they’re ready for AI. Employers may disagree (Harris Poll)
• 47% of organizations are reevaluating their GenAI strategy because of the cost shock (Harris Poll)
• Climate Comms is Broken. Here is What Actually Resonates (Allison, PRNews)