Email teams may have a handle on how discounts and loyalty programs can drive response. But do they understand the ways current events are shaping behavior?
Take the recession that pundits say is on the way. While 59% expect to maintain their spending levels as consumers in the next 12 months, 34% are cutting back and only 7% plan an increase, according to “How are our values changing,” a study from Oomiji.
Why are people cutting back? They cite:
But here’s one caveat: The respondents are business executives presumably discussing their behavior as consumers—are they truly representative? And, 34% the single biggest bloc, are from the Mid-Atlantic region, primarily the area around New York City.
Meanwhile, on the other side of the spending question, some are freer with their pursestrings for these reasons:
Of course, 83% say their incomes have not changed and that’s one reason they will maintain their spending.
Then there is the pandemic. Few people believe it is over and that things are returning to normal:
This has affected work and spending habits:
The war in Ukraine is also affecting their morale—81% say it’s causing them to feel more concerned the world, and our neighbors and friends.
At the same time, most want business to favor values over stakeholders. They say businesses should:
What are people’s top concerns about the future? In response to this open-ended question, they cite:
Oomiji surveyed 350 business executives from April 3-May 3, 2022 through LinkedIn. Of those, 47% were Baby Boomers, 32% Gen X and 18% millennials.