Survey IDs Women, GenZers as Most Concerned About Economy
A July survey conducted by Wunderkind, a global performance marketing specialist, which has offices in New York, London, Indianapolis and Sydney, has found that consumers continue to worry about finances, tariffs and prices, with just 23% of respondents feeling more secure than they did in January, but the concerns aren’t the same across all demographic cohorts.
Consumers have been responding to the uncertain environment in various ways, but just about everyone is more focused on value, and so they may be willing to update habits to get better deals.
In general, according to Wunderkind, 62% of consumers described themselves as cautious, pessimistic or even panicked in response to the survey, but 31% of men, 28% of Baby Boomers and 28% of Millennials proved more optimistic than other demographics. Only 16% of women and 15% of Gen Z, the most concerned groups, felt more secure, and the two cohorts had the highest proportion – 22% – of respondents describing themselves as panicked.
The majority of consumers have made significant changes to their purchasing habits, according to Wunderkind, with the largest share of respondents (32%) saying that they’re more aggressively hunting down better pricing, and 31% admitting that they’re buying fewer non-essential items. Just 12% of consumers said that they haven’t adjusted their shopping behavior yet, indicating that rising costs are shaping the vast majority of consumer routines, Wunderkind noted.
Demographic differences also matter when it comes to shopping behavior, with 38% of men and 39% of Millennials preferring to cut nonessential purchases, while 43% of women are deal seeking in one way or another.
Worries about the economy and finances are affecting consumer thinking about tariffs but, overall, only 19% fully support duties despite higher prices, with support highest among men, at 26%, and Boomers, at 23%. In contrast, Gen X showed the most skepticism, with 46% of those consumers saying that they donʼt believe tariffs protect jobs or industries, or are worth it at all, a sentiment also strong among women, with 49% expressing such opinions.
As for marketing across the consumer spectrum, Wunderkind recommended that, in the current marketplace, companies need to lean into value-driven, empathetic messaging while providing reassurance and budget-friendly options for women and Gen Zers especially. In contrast, aspirational and forward-focused narratives may better engage more optimistic segments, especially men and Boomers.
