2023 Changing Consumer Choices
SPENDING, BRAND & MEDIA CHOICES IN 2023
In March 2020 we launched our first Bauer Media Insiders Insight study into Life in the Time of Covid19 and over the last 3 years, we have kept in regular contact with our Insiders community asking them about how their lives have been impacted in times of extreme change. This on-going study has provided us with an invaluable document of life during this unprecedented period and a deep understanding of the impact on everything from the mood of the nation and changing work/life balance, to consumer spending mindset and emerging attitudes to social issues and changing media consumption.
NEW WAYS OF LIVING
In 2022 the emphasis of this on-going study shifted to monitor consumer behaviour and attitudes in the context of a world permanently changed by the pandemic and now facing the on-going pressures on the cost of living.
In 2023 we have undertaken a third wave of the New Ways of Living study which highlights the role of media during challenging times. Some of the key takeaways from this latest research were around radio continuing to play a vital role for consumers in times of change with 96% agreeing that radio lifts their mood and 67% agreeing that radio provides them with a sense of companionship. This reliance on radio since the pandemic is further proven with 64% agreeing that radio provides them with an escape, 62% finding that radio offsets feelings of loneliness and 48% agreeing that radio keeps them company while working from home.
The vital role of radio in keeping people connected is further demonstrated by 74% agreeing that radio helps keep them in the loop with what’s going on in the world.
Radio’s ability to form strong connections with audiences is confirmed by 41% of people saying that loyalty to their favourite station has increased over the last 3 years, 44% listen to radio to feel a sense of human connection and nearly 1 in 5 say they have listened to more radio over the last few months.
Importantly, radio is still seen as the most trustworthy media channel (69%), while social media has low levels of trust and divides opinions, with 75% agreeing that social media often focuses on the negative and can be very destructive and 59% of people finding it difficult to know what information to trust on social media.
Magazines were also shown to play a vital role in lifting mood and giving people a sense of connection in difficult times with a huge 88% of those surveyed finding that reading a magazine lifts their mood and 40% saying that magazines make them feel more connected.
THE BAUER INSIDERS
Data in this report was gathered through the Bauer Media Insiders panel between 30th November and 9th of December 2022 with comparisons to data gathered in February and July 2022. The data has been weighted to be nationally representative, with a sample size of 1,242.
c. 5,500 Bauer consumers have opted to become the Bauer Insiders – a community which receive regular surveys which provide invaluable insight into all aspects of their lives.