With the recent news about 5G's launch and it's potential interference with air travel, we were curious how people were really feeling about it.
The U.S. is having its highest inflation period in 40 years. And this time, a once-in-a-generation event is taking place on the heels of another once-in-a-generation event. Just as people emerge from two years of COVID lockdowns, they’re being greeted by insanely high prices for everything from gas and groceries to hotels and airfare — leading to a wallet lockdown.
After a period of prolonged vigilance during the pandemic, feelings of financial stall are leaving people tired. They’re itching to get out and go places, but rising prices – alongside another wave of surging Covid cases – are proving restrictive. And because people don’t know how long inflation will last, they don’t know how to budget. Additionally, a generation of millennials playing catch-up so they can gain better financial standing than their parents is watching the American Dream slip through their fingers as debt and soaring housing prices hold them back.
Only 1 in 3 Americans are experiencing upward mobility – a sense that they’re doing better than their parents. Millennials are the first generation to be worse off than their parents, a trend that is expected to continue for Gen Z. The traditional American Dream, in which homeownership is a cornerstone, is growing farther out of reach for many in the near term.
In this report, we set out to understand:
- Do people have a clear understanding of what inflation is and what is causing it?
- How are people coping with rising prices, and who feels the most affected?
- How will it impact spending across different categories?
- What effect will inflation have on people as they pursue the American Dream? What is the American Dream to them now? Do they feel it’s achievable?
- What role can brands play in helping Americans feel more hopeful and in control of their financial lives?
- What can brands do to build or retain loyalty as people trim household budgets?
Click ‘Download PDF’ below to access the full report.