Jason Dorsey > Research > Unexpected Consumer Insights and Attitudes about Money in this Unprecedented Time

Important Financial Trends and Expectations Coming Into Focus

Unexpected Consumer Insights and Generational Attitudes in this Unprecedented Time

Uncovering each generation’s consumer trends and financial attitudes

Marketers, sales professionals, executives, and brand leaders are facing an unprecedented, challenging situation: how to understand and adapt to consumers amidst store closings, social distancing, and quarantine measures.

To attract and retain each generation of customers and drive growth during these uncertain times, leaders first need to know how consumers are thinking about money, spending, saving, and their financial attitudes toward the future. CGK’s 2020 study, Unexpected Consumer Insights and Generational Attitudes in this Unprecedented Time, fills in the missing data gaps so leaders can take fast, data-driven action.

The study uncovered many insights. In particular, three of them have broad implications across a wide array of businesses, brands, products, services, and industries. We wanted to know:

  • What new and different spending habits have each generation established during this pandemic?
  • What gender and generational differences emerge in what consumers want to first spend their money on after social distancing restrictions are lifted?
  • What does each generation think will be the most positive thing to come out of the COVID-19 pandemic?

Below are a few of the surprising findings from the study:

  • 47% of all Americans will put more emphasis on saving money after the pandemic
  • 68% of Baby Boomers believe the U.S. will need at least two years to recover from the pandemic
  • 71% of all Americans agree that they’ll try to support local businesses more in the future
  • 73% of all Americans plan to first spend their money dining in at restaurants when restrictions are lifted

The study’s findings answer numerous questions about how Americans are being financially affected by the multitude of changes brought on by the COVID-19 pandemic. We believe understanding these new emerging realities by generation is an important first step for leaders to decide what strategies and actions to take—and why.

Generations are all experiencing these changes differently based on their unique generational perspective and priorities. What each generation wants is different—but brands, products, services, and marketers can deliver it. The key is to know what matters most and then take the appropriate action. To get all the findings, download the report now by filling out the form on this page.

For virtual presentations, custom research, strategic advisory work, or media inquiries, please contact [email protected] or +1 (512) 259-6877.

About this National Generational Research Study

This custom study was designed by The Center for Generational Kinetics and conducted online from April 28, 2020, to May 4, 2020. The survey was administered to 1,000 U.S. respondents ages 18-90. The total sample was weighted to the current U.S. Census data for age, region, gender, and ethnicity. Figures are statistically significant at the 95% confidence level. The margin of error is +/-3.1 percentage points.

Generational Research, Speaking and Advisory That Solves Challenges for Leaders

The Center for Generational Kinetics has led more than 65 generational studies, spanning four continents and multiple languages. Each year, we work with over 100 clients, from global retailers and financial services leaders to pioneering technology companies. We have helped financial service providers invent new products and offers, launched new cars to a new generation of buyers, and helped hospitals attract and retain the next generation of nurses.

We are passionate about helping you solve your generational challenges and drive measurable results.  Contact us now to schedule an initial consultation with our research, consulting, or speaking teams.

Want more research-based insights?

At The Center for Generational Kinetics (CGK), our Ph.D.-led research team works every day to understand emerging behavioral trends and truths from a variety of angles. We look at different generations in the workplace as employees, managers, influencers, and entrepreneurs. We also look at each generation of consumers, tastemakers, and trendsetters. We are passionate about uncovering hidden trends!

Visit CGK’s website to access more of our unique research.

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Do you have a question about generations?

Email me the question or ask me on Twitter: @JasonDorsey

I often answer reader-submitted questions in my newsletter with over 40,000 subscribers! I’m inspired by your interest in my mission to separate myth from truth through research.

Please reach out to me if you’d like me to speak at an event or talk about leading custom research that shows you how to unlock the potential of this generation.

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Download the complete Unexpected Consumer Insights and Generational Attitudes in this Unprecedented Time executive report:

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Unexpected Consumer Insights and Generational Attitudes in this Unprecedented Time

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“CGK’s national study revealed that each generation is experiencing the COVID-19 pandemic differently. This is very important to know as it explains why each generation is now making different financial decisions.”

—Jason Dorsey, President, CGK
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“Understanding the financial toll of the pandemic from Gen Z to Baby Boomers is essential to engage each generation as consumers. This national research fills in the missing knowledge gaps that leaders need to know to build revenue strategies now.”

—Denise Villa, PhD, CEO, CGK

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