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Over half of UK workers feel their company could increase wages to help with cost of living crisis
August 4, 2022
New research from LoopMe reveals the impact rising cost of living prices has had on hybrid working, as financial crisis continues
LoopMe, a leading brand-focused mobile advertising platform, today announced the release of its latest research report, “Adjusting to the New Economic Climate and Working Environment.” The report unveils findings from a mobile survey of 17,861 respondents across the U.K., U.S., and Australia in Q2 2022 to understand consumer sentiment of the current state of the economy. The survey data was non-incentivized and normalised for population and gender splits by country.
Findings reveal that 47% of consumers are consciously spending less due to the cost-of living crisis. This is particularly true in Australia, where 54% have cut their outgoings, compared to 50% in the U.K. and 38% in the U.S. Respondents are also embracing home-working, with more than two-thirds (67%) of professionals in office-based roles stating their desire to work from home full-time. Interestingly, nearly 1 in 5 of the global respondents said they’d opt for a pay cut if it meant they didn’t have to go to the office anymore.
“Consumers worldwide are watching their wallets right now, and brands are left adjusting to these trends from a business perspective. Marketing agility in the current economic environment is paramount,” said Stephen Upstone, CEO and co-founder of LoopMe. “Leveraging technology and AI to effectively personalise advertising content is one way brands can quickly adhere to changing consumer needs and preferences, whether that’s showcasing new deals or highlighting products that do better when purse strings are tight. Brands are also paying close attention to hybrid work preferences, as less time driving to the office extends time online browsing content.”
Additional findings from the study include:
● 52% of consumers felt their company could offer higher wages to help with rising cost of living
● 21% of consumers are incentivized to come to the office for a salary increase and 7% choose to work from the office more to save on utility bills at home
● 11% of consumers have increased the number of days they work from home to save on travel costs
● 8% of consumers revealed their companies offer cycle to work plans to help with transport costs●
To view the full research report please visit: https://info.loopme.com/purchaseloop-research-economic-climate-working-environment
LoopMe surveyed 2,630 consumers in the UK, 2,622 consumers in the US, and 2,641 consumers in Australia from 18-23 May 2022 to reveal the adoption of hybrid working and the impact of cost of living prices. LoopMe then surveyed a further 3,348 consumers in the UK, 3,115 consumers in the US and 3,505 consumers in Australia from 18-23 May 2022 to understand consumer sentiment in the new economic climate and working environment.
LoopMe's opt-in GDPR-compliant research was delivered to consumers via their mobile devices. All surveys were non-incentivised.
Surveys appear as consumers engage with content across mobile web and apps, providing scalability and unique reach for data collection.
PurchaseLoop Audiences leverages survey technology to identify your in-market audience. PurchaseLoop Audiences are created from proprietary segments using live, opt-in, marketplace responses and modelled to scale by our industry-leading artificial intelligence.