New Talkwalker Report Reveals Young People on Twitter are Most Concerned by the Rising Cost of Living

Rhea-AI Summary

Talkwalker and Twitter analyzed over 16.2 million cost-of-living conversations, revealing significant consumer concerns about rising costs. Among Twitter users aged 25-34, there was a marked increase in discussions regarding expenses, particularly related to gas and heating. The report highlights that 79% of conversations focus on essential costs, pushing brands to adjust strategies to resonate with consumer sentiment. Insights indicate shifts in consumer buying habits, with a growing demand for empathetic brand communication as people seek community support and advice during the cost-of-living crisis.

Positive

• Collaboration between Talkwalker and Twitter for thorough analysis.
• Insight into consumer sentiment aids brands in strategy adaptation.
• Increased engagement on Twitter shows potential for community support.

Negative

• Significant consumer anxiety about rising essential costs.
• Concerns over brands profiteering from the crisis.

Talkwalker, in partnership with Twitter, analyzed over 16.2 million cost-of-living conversations to reveal the impact of rapidly rising costs on global consumers

• People on Twitter aged 25-34, saw the sharpest increase in cost of living conversations, highlighting their increased concerns about the crisis.
• Consumers are most anxious about the rising cost of gas and heating.
• Many believe long-term saving solutions are prohibited by high initial outlays.

NEW YORK, July 26, 2022 /PRNewswire/ -- Talkwalker, a leading consumer intelligence platform, in partnership with Twitter, announced the launch of its Exploring the Cost of Living Conversation 2022 report. As a Twitter Official Partner, Talkwalker was able to analyze over 16 million cost-of-living conversations on Twitter, to understand how this global issue is impacting consumers.

The insights within this report can enable brands to be more empathetic during this time, and allow them to adapt their campaigns and comms strategies to fit today's consumers' wants and needs.

"There's no escaping the rising cost of living," said Elena Melnikova, Talkwalker's CMO. "With consumers across the globe having their budgets squeezed, and brands facing a challenging sales period. 79% of conversations around the rising costs of essentials are focused on gas, fuel, and rent, leaving less money for food and frivolities. To maintain their appeal, brands need to adjust their strategies to align with consumer concerns and sentiment."

The report is based on Twitter data, analyzed through Talkwalker's Consumer Intelligence Acceleration Platform™. This combination of valuable data and powerful analytics provides additional insights into the ongoing situation.

"Twitter is where the world comes to discuss what's happening" said Lauren Jenkins, Head of the Twitter Official Partner Program. "As the cost of living crisis develops, we've seen people discuss its implications on Twitter. During this time, it's important that brands stay connected to their customers and listen to their needs. Social listening platforms like Talkwalker and social media platforms like Twitter can help brands discover the insights necessary to encourage empathetic brand actions and communications that will resonate with their audiences.

These insights highlight changes in several consumer buying habits:

• Consumers are willing to spend more, but only within reason, with many concerned about brands potentially profiteering from the crisis.
• Budget cuts are leading people into changing their long-term life decisions, rethinking everything from buying electric vehicles, to how they manage their retirement.
• Many consumers are turning to Twitter for help, with new types of communities born, focused on helping those survive the crisis, with money-saving tips and discount codes.

To discover more, you can download the Exploring the Cost of Living Conversation report here.

About Talkwalker

Talkwalker is the #1 consumer intelligence company and is dedicated to helping brands close the gap between brand and consumer. Recognized by Forrester as a Leader in Consumer Intelligence and Social Listening, Talkwalker brings together market-leading social analytics and AI technology, with unstructured data expertise, and a global team of insights analysts and data storytellers.

Talkwalker enables brands to put consumers at the heart of their decision-making, empowering them to embrace smarter innovation, create more successful campaigns, and provide enhanced customer experiences. With teams around the world, Talkwalker helps over 2,500 global brands to be consumer close, and accelerate their brand growth.

To discover more about Talkwalker, please visit www.talkwalker.com.

About Twitter, Inc. (NYSE: TWTR)

Twitter is what's happening and what people are talking about right now. To learn more, visit about.twitter.com and follow @Twitter. Let's talk.

Contact
Tom Francoeur, Crackle PR
tom@cracklepr.com

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SOURCE Talkwalker

FAQ

What is the main finding of the Talkwalker and Twitter report on cost of living dated July 26, 2022?

The report reveals a significant increase in cost-of-living conversations, particularly among users aged 25-34, highlighting concerns over gas and heating costs.

How many conversations were analyzed in the Talkwalker and Twitter report regarding rising living costs?

The analysis covered over 16.2 million conversations about cost-of-living on Twitter.

What percentage of discussions focus on essential costs according to the report?

The report indicates that 79% of conversations are centered around essential expenses such as gas, fuel, and rent.

What actions should brands take based on the Talkwalker and Twitter report?

Brands should adjust strategies to align with consumer concerns and sentiment, focusing on empathetic communication.

What age group showed the sharpest increase in cost-of-living conversations on Twitter?

Users aged 25-34 exhibited the most significant increase in discussions about the cost of living.