WHAT THE DATA SAY: Only 30% likely to buy a product just because it uses AI; social media trust falls

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:

AMERICANS DON’T TRUST SOCIAL MEDIA COMPANIES WITH AI

With AI reshaping the economy and culture, Americans have high bars for the companies that should be handling this new technology, according to our 2024 Axios Harris Poll 100.

• The U.S. public trusts tech companies leading the generative AI wave – including Nvidia, Microsoft and (to a much lesser extent) OpenAI – more than social media platforms Meta, ByteDance (TikTok) and X.
• Nvidia is a newcomer to the reputation list in 2024 and also No. 1 in overall reputation, “vision” and “growth.”
• Social media companies overall have fallen behind the rest of Big Tech both in terms of value to investors and public perception. ByteDance (TikTok) scored a poor reputation score of 60.7 (#95 on the list), Meta a very poor score of 59.6 (#97), and X/Twitter very poor at 58.8 (#99).
• While 58% of Americans recognize the importance of integrating AI into products, only 30% said they are more likely to buy a product or service just because it uses AI.

BOEING NOT GROUNDING AIRLINE REPUTATIONS

Boeing’s corporate reputation took another significant hit this year, but it’s not affecting airlines, based on our Axios Harris Poll 100.

• Boeing’s reputation fell to a “fair” level of 65.9, down 13.5% from 76.2 and a “very good” reputation last year.
• Delta Air Lines is tied for the best airline on the list – with a “good” reputation rating of 74.4, compared with 74.9 last year.
• Alaska Airlines also is rated “good” at 74.4 – making the list for the first time, likely in response to its strong handling of the Boeing crisis.
• Southwest Airlines also is rated “good” and improved to 72.8 from 71.9 last year.
• While they did not make the list of America’s most visible companies for 2024, American Airlines’ and United Airlines’ reputations are straddling a good-to-fair rating.
• 80% blame Boeing for the Alaska Airlines door malfunction, and 75% say they know enough about the situation to attribute blame.

DIG DEEPER INTO CORPORATE REPUTATION

Overall, corporate handling of inflation and culture wars are denting the reputations for more than 70% of American companies in the Axios-Harris Poll 100 annual ranking of the reputations of the most visible U.S. companies. If you and your company/team would like a briefing on this year’s corporate reputation results – including data on many companies that did not make the 100 most visible list – please contact Alexis Williams.

WEDDING PARTY EXPECTATIONS ‘OUT OF CONTROL’

As wedding season kicks into gear, 65% of Americans say expectations of wedding party members are out of control, and 75% worry weddings have become more about parties than marriage, based on our Harris Poll research with Fast Company.

• While 94% say they had a positive experience the most recent time they were in a wedding party, 66% of bridesmaids and groomsmen are shocked by how expensive it is.
• 87% feel that wedding expenses are “ridiculous.”
• Among the most common duties of wedding party members: 33% plan or host a bachelor/bachelorette party; 31% decorate, set up or clean up the wedding space; and 25% give a speech.
• Those who have participated in a wedding in the past five years report spending $2,795 on average – an increase from $2,576 five years ago and $1,157 10 years ago.

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