WHAT THE DATA SAY: Lab-grown meat is making headlines; most consumers not yet ready for a taste test

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 (fielded July 14-16):

WEEKLY WORRIES ABOUT ECONOMY STEADY

Today, 85% of Americans are concerned about the economy and inflation – the same as last week and higher than December’s 82% rate.

• 76% worry about a potential U.S. recession (down 5 points)
• 70% about affording living expenses (no change)
• 74% about political divisiveness (down 1 point)
• 83% about U.S. crime rates (no change)
• 67% about the War on Ukraine (down 1 point)
• 51% about a new COVID-19 variant (no change)
• 47% about losing their jobs (down 1 point)

TWO-THIRDS OF AMERICANS WANT SUSTAINABILITY IN RETAIL

Rising climate concerns are reshaping retail consumers’ perceptions and beliefs, based on our Harris Poll study with Retail Brew.

• 65% of Americans have purchased a sustainably made item at least once in the past year.
• 63% said they must shop at retailers that prioritize sustainability.
• 81% believe it’s challenging to shop sustainably when the prices of sustainable goods are higher.
• 74% believe most retailers aren’t prioritizing sustainable practices.
• 69% believe greenwashing is an issue in retail marketing.
• 58% of Americans trust a retailer’s sustainability claims when it comes to recycling and waste practices, 54% trust sustainability claims in supply chain operations and 54% in manufacturing practices.
• 48% will walk away from a brand if they discover it isn’t operating sustainably.

CAN I TAKE YOUR LAB-GROWN MEAT ORDER?

Lab-grown meat is making headlines as it begins appearing on menus – with promises of everything from cultivated burgers and bacon to lab-grown sushi and sashimi. Are Americans ready? Our Harris Poll survey with the Iowa Farm Bureau asked the question.

• 24% of Iowa shoppers say they would try plant-based meat, and 21% might try lab-grown meat.
• The majority say they currently would not try plant-based (76% currently say “no”) or lab-cultivated meats (79% say “no”).
• Milk alternatives seem to garner more acceptance: 44% say they are likely to purchase plant-based imitation milk instead of real dairy milk.
• 33% who have done so, however, won’t try milk alternatives again.
• The survey also examined the favorability of farmers – and the report card is a good one. In fact, 93% trust Iowa farmers, 88% are confident that farmers care for their animals responsibly, and 81% feel confident that farmers are caring for the environment responsibly.

AMERICANS UNHAPPY WITH INSURANCE

Only half of Americans are happy with their insurance today, but they also don’t seem to be doing much about it. Our Harris Poll survey with NerdWallet showed:

• The high cost of insurance has prompted 12% of Americans to not make a major purchase and 11% to decrease their coverage to save money.
• Yet only 28% those who own insurance say they shopped around for lower insurance prices in the last 12 months.
• 57% say they have seen their premiums increase in the past year.
• 62% of Americans with homeowners insurance say their premiums have risen, and 19% say they increased a great deal.
• 39% of Millennial insurance owners say they’ve comparison shopped for insurance during the last 12 months to lower rates, and 45% say they will do so during the next 12 months.

PICKLEBALL INJURIES BEING IGNORED

Pickleball is a hot trend, and it’s also racking up injuries that many people are ignoring, according to our Harris Poll survey with Orlando Health.

• 46% of Americans prioritize their physical activity more today than three years ago, with 45% focused on good health habits and goals.
• Yet – with pickleball causing knee, wrist and rotator cuffs injuries – 50% of people say it’s not worth seeing a doctor for a sports injury because they think will probably heal on its own.
• 44% say it’s too much work to make a doctor’s appointment for an injury that isn’t too painful.

ICYMI

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

• AI Is The Next Quantum Leap For Marketing – But Only If Humans Steer It
• Sustainability Progress Is Stalled at Most Companies
• Retailers’ Attempts To Dissuade Returns May Impact Brand Loyalty
• Job seekers say two interviews should suffice, but hiring managers open to more
• Gen Z Lost So Many Soft Skills During COVID That Employers Are Providing Socialization Classes