WHAT THE DATA SAY: Gen Z embracing religion at nearly double rate of parents, grandparents

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:

GEN Z MORE RELIGIOUS THAN PARENTS

Gen Z is embracing religion at nearly double the rate of Baby Boomers, based on new Harris Poll research.

• 33% of Gen Z adults today identify as religious, compared with 19% of Millennials, 22% of Gen X and 18% of Boomers.
• Gen Z is also the least likely generation to identify as neither religious nor spiritual (19%).
• 88% of Gen Z regularly participate in at least one religious or spiritual practice, the highest share of any generation.
• Gen Z is more likely than Boomers to regularly read religious texts and attend religious services.
• 56% of Gen Z say they have turned to manifestation practices or spirituality to feel greater control over their future: 69% have learned a new skill or pursued training, 62% have started a creative project, 59% have restructured work to fit the life they want, and 57% have shown up more for their local community.
• 70% of Gen Z want to belong to more real-world, in-person communities, including run clubs, faith communities, hobbies and volunteer groups.”

CONFIDENCE UP, CONTROL DOWN

Recession fears are easing, yet more than one in four Americans don’t feel in control of their day-to-day finances, according to September’s Financial Resilience Index from Harris Poll and NerdWallet.

• 27% of Americans say they do not feel in control of their day-to-day finances, up from 23% in July.
• Recession expectations fell from 66% in May to 61% in September, yet the share feeling financially in control dropped from 77% in July to 73% today.
• 78% are confident they can pay all their bills on time this month.
• 63% have enough cash to cover an unexpected $1,000 expense.
• Parents (44%) are more likely than nonparents (31%) to rely on credit to make ends meet.
• Financial confidence declines by age: 89% of Boomers are confident they can pay bills on time, compared with 68% of Gen Z.
• See also: Nearly half (46%) of frontline workers resort to borrowing money between pay periods

RESPONSIBLE AI

While job seekers overwhelmingly feel AI-ready, hiring managers want candidates to demonstrate they also can use AI responsibly, communicate its outputs and understand its risks, according to The Harris Poll and Express Employment Professionals.

• 9 in 10 hiring managers look for candidates with at least basic AI skills.
• 93% of job seekers say they’re AI-ready, yet only 35% think employers want advanced skills – versus 41% of hiring managers who do.
• For employers, AI readiness means understanding data privacy and security (45%) and clearly communicating AI outputs (45%).
• 37% of hiring managers prioritize candidates’ understanding of bias and fairness in AI.
• Half of Gen Z (50%) and Millennials (55%) rate their own AI skills as advanced or expert, compared with 31% of Gen X and 12% of Boomers.
• Men (42%) are more likely than women (28%) to expect employers to seek advanced AI skills.
• See also: AI failures often trace back to poor data foundation

CONVENIENCE STORES CONVERT

Convenience stores are high-intent retail destinations, not just quick pit stops, where shoppers linger and reliably make purchases, according to new research from Stagwell Marketing Cloud’s Numetrix.

• 98% of consumers who enter a convenience store make a purchase, spending $22.93 per trip on average.
• The average visit lasts 5.92 minutes, while 63% of visits run four minutes or longer.
• 56% enter primarily to buy something to eat or drink, compared with 19.2% who enter to pay for fuel.
• Shoppers visit frequently, as 93% made multiple convenience-store trips in the prior four weeks, averaging 6.8 visits.
• 91% make impulse purchases at least sometimes.

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

• We are hitting a cultural “death spiral of AI doomerism” (Harris Poll) 
• Retirement Security in the U.S. Is Stuck in the Past (Harris Poll)
• 77% of Gen Z readers love or like webcomics (National Research Group)
• Allison’s Riley Burns named to PR Week’s 40 Under 40 (Allison)