WHAT THE DATA SAY: Americans' interest in women's sports reaching new highs
By: Ray Day
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.
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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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