Kearney's latest research highlights the growing impact of political turmoil and economic insecurity on global consumer sentiment.
Consumers globally might be reaching their breaking point. According to the latest sentiment data from the Kearney Consumer Institute, which is an internal think tank of global strategy and management consultancy Kearney, consumers in seven out of 12 countries polled experienced a sharp increase in their level of stress as compared to the prior quarter’s report.
Tumultuous political activity in both countries likely lead to the spike in stress. KCI researchers said the index showed in the U.S. that 48 percent of those polled were pessimistic about the country’s political future, compared to 29 percent being optimistic. The poll, however, was conducted in June, before President Joe Biden retired from the presidential race and backed Vice President Kamala Harris as the Democratic Party candidate — which is also impacting consumer sentiment in the country.
“Anything that feels misleading or deceptive — from shrinkflation to ‘false’ discounts during the summer sales to poor service due to software outages — will further aggravate consumers, leading to longer-term risks with loyalty and trust,” Thomas added. “Emphasizing service, the core offering, and points of differentiation are key.”
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