The current state:
The presidential primary season has officially started, with Iowa now in the rearview mirror and the country focused on New Hampshire’s primary on January 23rd. The country has begun the process of determining which candidates will vie for the responsibility of leading the world’s largest economy ($25.4 trillion GDP) over the next four years. There’s a lot at stake, and the world is watching.
How we’re feeling right now:
According to this week’s Consumer Pulse, 79% of respondents plan to vote in this year’s election. Generationally, 90% of Boomers plan on voting compared to 72% of Gen Z/Millennials. Here are some highlights of this week’s results, which focus on the 2024 elections:
- 65% worry about the election’s outcome on the economy.
- 44% are worried about social unrest leading up to the election.
- 56% of Gen Z/Millennials will use social media as their primary news source.
Why it matters:
One result of the worry and uncertainty caused by the election is that 74% of respondents say they plan to be more conservative with their spending this year. Brands and retailers need to be prepared to face reluctant consumers who will be reacting to a combination of political and economic news over the next few months, especially during the lead-up to Super Tuesday (March 5th ), when 16 states will hold presidential primaries.
Do you want to take the Pulse of your customers? Our Insights team will partner with you to design a study to help you better understand your customers and their problems, and how your brand can win at retail.
To get additional insight into what this means for brands and retailers, read the entire study.
