The Insight Scoop: July
By Charlie Gill
In this July edition we will explore:
- Where in the world parents are more likely to financially support their adult children
- How half of Britons say they wouldn’t take a trip to the moon
- Why 64% of Indians say they don’t exercise
- What new research says about what viewers love to watch
- How half of UK adults access social media for news
- Whether retailers should be embracing returns culture
Bank of mum & dad
Indonesia and the United Arab Emirates are the places where most parents support their adult children financially on a regular basis, according to a report by British bank HSBC. 77 and 79 percent of parents from these countries said they were at least partially funding their grown-up kids’ lives.
Almost half of parents who said they were supporting an adult child said they had been doing so for more than twelve years, according to the survey.
Most parents reported supporting their kids with money going towards education (59 percent) and everyday living costs (49 percent). 27 percent of parents even reported helping to pay for holidays.
Parents in the U.S. and the UK are less inclined to pay for their adult kids. Only 26 and 30 percent, respectively, said they were giving grown-up kids money. U.S. and UK parents are therefore more in line with the common notion among parents that adult children should stand on their own two feet. Globally, 61 percent supported this statement.
Takeaway: Indonesia (77%) and the United Arab Emirates (79%) are the places where most parents support their adult children financially on a regular basis.
A survey asked Britons whether they would want to take a trip to the moon if given the opportunity and a guarantee of safe return. The nation is split with 43% saying they would but more (48%) saying they’d turn it down. The most common answer (23%) was simply that they had no interest in going to the moon. Other common answers were that there isn’t enough to see and do on the moon (11%), there are place on Earth they’d rather visit (10%) that there’s no point (9%) or that they rejected the premise that safe return could be guaranteed (also 9%). Women and older Britons are the most likely groups to confine themselves to the Earth’s atmosphere. 59% of female Brits say they would not want to visit the celestial body, compared to 36% of men. 62% of Britons aged 55 and older wouldn’t want to go, this figure is only 32% among those aged 18 to 24. 49% believe it’s not important that we send astronauts back to the moon, compared to 41% who think it is. 9% of Brits don’t think human exploration of space should take place at all. A third think the UK Space Agency’s £371m budget should be reduced/ cut entirely, compared to 29% who want it to stay the same & 19% who want it increased. Whilst 70% of Americans want NASA’s budget either protected at current levels or increased.
Takeaway: Just under half of the nation say they would turn down the opportunity to take a trip to the moon.
It has been revealed that 64% of Indians say they don’t exercise, while nearly half (46%) of consumers say that leading a healthy lifestyle is their top priority, only 37% of them actually exercise.
Mintel revealed that lack of time is the top barrier for exercising among Indian consumers; almost a third (31%) of consumers say that they don’t have time to exercise. Brands have an opportunity to help support the quest for a healthy lifestyle, tapping into fitness apps to empower consumers to exercise in the comfort of their homes and offices. Indians tend to choose very basic forms of exercise; Mintel research reveals that as many as two-thirds (67%) of Indians who exercise typically do brisk walking. This is followed by 26% of Indians who do yoga/pilates/CrossFit, 11% who do cardio and team sports (e.g. football, cricket), respectively, and 10% who bodyweight exercises (e.g. push-ups, pull-ups, squats). 13% of Indians claim that they don’t know enough about sports nutrition products and 11% believe these products are harmful if consumed without rigorous exercise. The time is ripe for brands to reposition sports nutrition and make it a go-to option.
Takeaway: Almost a third (31%) of Indian consumers say that they don’t have time to exercise.
Eye of the beholder
Once upon a time, you knew ‘quality’ content as soon as you saw it; expensive cameras, slick video production and famous faces. Now, with more content than ever competing for eyeballs, what gets and keeps attention is less straightforward. Omnicom Media Group research 3.2k people aged 13 to 64 and found the future of content is all about passion. Three themes emerged:
1) Beautiful storytelling trumps video production value When people are choosing what to watch, relating to their passions is 1.6X more important than whether content has high production quality.
2) Niches can be huge Even in the age of cable, viewers have been restricted to a limited number of channels. Now, online video allows people to watch content that caters to any interest or need. Content that allows viewers to dig deeper into interests is 2.7X more important than featuring famous actors.
3) Premium is personal Three in five Gen Z and millennial viewers want to find purpose and meaning in what they watch. And half of Gen Z and millennial consumers say that they often watch things just to be able to talk about them.
Takeaway: Video content related to passions is 1.6x more important than high production quality, content that allows viewers to dig deeper into interests is 2.7x more important than famous actors, finally, 3 in 5 Gen Z & Millennials want to find purpose in what they watch.
Social media news
According to Ofcom, 75% of UK adults watch TV to keep up with the latest news, although this is down from 79% since last year. At the same, use of social media for news coverage has gone up from 44% last year to 49% of all adults, with young people aged 16-24 much more likely to use social media for news than those aged 65+ (76% vs 16%). Additionally, after TV, the internet is the next most popular platform for news and is accessed by 66% of adults. Some 43% of UK adults tune in to radio for the news, while 38% continue to rely on traditional print newspapers –this increases to 49% once newspaper websites and apps are included.
BBC One remains the most popular news source and is watched by 58% of adults, but this is down 4% since 2018, followed by ITV (40%) and Facebook (35%). Usage of Facebook for news has remained stable since 2018, but more are turning to Twitter (16%, up from 14%), WhatsApp (14%, up from 10%) and Instagram (13%, up from 9%). Social media platforms are however ranked low in terms of perceived quality, accuracy, trustworthiness and impartiality. Just 37% of UK adults regard social media favourably by these measures, compared with 58% for print newspapers, 61% for radio, 62% for TV and 78% for magazines.
Takeaway: 49% of UK adults now use social media for news coverage, up 5% from last year. However, only 35% see the quality of this content as accurate or trustworthy.
By one estimate, returns cost retailers more than half a trillion dollars a year; by another, that amount will soon exceed a trillion dollars a year. The staggering costs of returns mean retailers spend lots of time, money & energy trying to minimise them. Retailers should try to minimise factors such as inaccurate product information, poor sizing guides and lacklustre CS. Returns are becoming completely ingrained in the DNA of how we shop. 82% of <2k UK shoppers think returns are a normal part of shopping. 14% increase in returning products purchased online combined with the growth of online sales as a % of total retail sales is a problem.
2/3 of shoppers cite free returns as an “essential” factor when selecting a retailer. 78% claimed that free returns will cause them to buy more from a retailer over time. 2/3 of shoppers said they won’t buy from retailers not offering free returns. 84% won’t buy from a retailer with which they had a poor returns experience. 84% want the ability to make returns online or offline, and 42% are more likely to purchase from a retailer offering the ability to return online orders to a physical location. So-called wardrobing or ‘snap and send back’ is driven by social media and represents an difficult part of the new shopping culture.
Takeaway: 2/3 of shoppers said they won’t buy from retailers not offering free returns.