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 biggest increase in cost of living conversations, highlighting their growing concerns about the crisis.
- Consumers are more concerned about rising gas and heating costs.
- Many believe that long-term savings solutions are prohibited by high initial costs.
NEW YORK, July 26, 2022 /PRNewswire/ — Talkwalker, a leading consumer intelligence platformin partnership with Twitter, announced its launch Conversation to explore the cost of living 2022 report. Like one The official partner of TwitterTalkwalker was able to analyze over 16 million cost of living conversations on Twitter to understand how this global issue is affecting consumers.
The insights within this report can enable brands to be more empathetic during this time and allow them to tailor their campaigns and communication strategies to fit the wants and needs of today’s consumers.
“We cannot escape the rising cost of living,” he said Elena Melnikova, CMO of Talkwalker. “With consumers around the globe having their budgets squeezed and brands facing a challenging sales period. 79% of conversations about rising costs of essentials focus on gas, fuel and rent, leaving less money for food and stuff worthless. To maintain appeal, brands must adapt their strategies to match consumer concerns and sentiments.”
The report is based on Twitter data, analyzed through the Talkwalker™ Consumer Intelligence Acceleration Platform. This combination of valuable data and powerful analytics provides additional insight into the ongoing situation.
“Twitter is where the world comes to discuss what’s going on,” he said Lauren Jenkins, Head of Twitter’s Official Partner Program. “As the cost of living crisis unfolds, we’ve seen people discuss its implications on Twitter. During this time, it’s important for brands to stay connected to their customers and listen to their needs. Social Listening Platforms like Talkwalker and social media platforms like Twitter can help brands uncover the insights needed to encourage empathetic brand actions and communications that will resonate with their audience.
These insights highlight changes in several consumer buying habits:
- Consumers are willing to spend more, but only within reason, with many worried about brands that could profit from the crisis.
- Budget cuts are forcing people to change 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 springing up focused on helping those survive the crisis, with money-saving tips and discount codes.
To find out more, you can download Conversation to explore the cost of living 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 insight analysts and data storytellers.
Talkwalker enables brands to put consumers at the center of their decision-making, empowering them to embrace smarter innovation, create more successful campaigns and deliver improved customer experiences. With teams around the world, Talkwalker helps over 2,500 global brands get closer to consumers and accelerate their brand growth.
To find out 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. Lets talk.
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