Inflation is rapidly increasing, and we’re facing an economic crisis. Global leader in media intelligence, Meltwater, has done a data deep dive to find out what areas we’re most concerned about.
What was concerning us in August?
When looking at social conversations by age demographic, it’s clear to see the different concerns. As some ages worry about food, others are more concerned about what to do outside of the house.
- 18-24 year olds make up the people who are most stressed about food.
- 25-34 year olds are actually mostly concerned about entertainment. Whether this be live sport, gigs, theatre, streaming services or the cinema, spare time is an important commodity in this cohort. Besides this, the housing affordability crisis and the market is another popular talking point.
- For the older generation, fuel prices were the biggest concern. 55-64 year olds were dominating the conversation around fuel prices, notably by men in Perth.
Some of the trends from August were also fuelled by viral or noteworthy moments. On 17 August, Facebook users were warned about a fake Aldi giveaway. The viral post encouraged users to share and comment on it to win up to $500 worth of food. In the midst of a food crisis with soaring prices and a broken supply chain, the post caught wind and was admonished across social media.
As the housing crisis continues on, rental is also joining in the conversation. Landlords are hiking up prices and forcing tenants to pay the inflated rent without the pay or salary increase to match.
What does this mean for marketers?
For marketers, these trends tell the story of what are our need products, not our want products. Providing support, offering discount codes, or even giving solutions for these crises can mean brand loyalty. It’s a fine line to balance but authentically joining in on these conversations can mean repeat or new customers to your business. The key is authenticity – nothing kitschy or inauthentic. As the financial crisis continues, support is what will create long lasting relationships between business and consumer.