Order Report - Attitudes & Sentiment 2022: Understanding the Retail Investor Mindset and Business Opportunities During Times of High Inflation
A lot is going on! Inflation is at record highs, markets are down, Russia and China are center stage of geopolitical instability, and there is talk of a recession. Just released 2022 survey data reveals the top consumer attitudes, sentiments, concerns and goals, so you can see whats top of mind for your customers and where the opportunities lie. Here are a few stats: 46% of US households have high concern about inflation. And 1/3rd of these consumers are holding more than 90% of their assets in cash as buying power erodes. Additional leading concerns include 41% about the economy, 39% about the future of Social Security, 33% about global conflict, and 24% about declines in the U.S. stock market. But more and more consumers feel their advisor is a partner to them, underscoring the value of advice and guidance in the face of the current headwinds.
- National consumer sentiment today shows reduced confidence without an increase in overt anxiety, softening feelings of being “experienced” investors, and tolerance of volatility.
- Competing financial goals is at an all-time high since tracking began, with over half of households having 3+ goals.
- Inflation is the #1 concern nationally, up +8ppts to 46% of households, equal only to the high level of concern about U.S. healthcare a decade ago.
- The most commonly held attitude nationally in 2022 is “I wish I were doing a better job saving” with Millennials, Gen Xers and households with <$100K showing more confusion about investing.
- Analysis of attitudes for specific firms reveals at least 3 big opportunities for stores and 4 for asset managers.
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