This week’s article is all about the QT, the7stars Insight Team’s very own Quarterly Tracker. The QT has been running for 36 waves since 2016 and has been capturing British finances, moods, beliefs, hopes, dreams, and much more. Chances are, if you can think of something, the QT will have it answered!
This quarter, our focus is centred around influence, from what influences the minutiae of everyday financial decision-making to bigger and bolder questions about our level of control in a tumultuous world. Sometimes, we have even less influence over our behaviour than we think, and people are becoming aware of this, thrusting the issue of control into the spotlight. Think about the rise of digital addiction—iMotion released an article highlighting behavioural habits that have stealthily become entrenched in modern society and are refusing to budge. These are the kinds of moments where, as a society, we struggle with control, whether it be with macro societal factors or micro everyday habits we can’t seem to escape.
Our QT data echoes this train of thought. Overall, individual influence has remained the same compared to last year, with over half of all Brits saying they feel the same level of control over their lives compared to 2023. 18-34s, in particular, would prefer to feel more in control, with only 42% saying they are satisfied with the amount of control they have over their own lives. This points to a gap between expectations and the realities of control in young people’s lives, showing us that this audience is acutely aware of the influence they lack. This awareness extends to specific habits for all UK respondents, with 1 out of 3 Brits wanting to exert more control over their diet and exercise routines.
We also use the QT to explore UK spending habits. We uncovered that, across all categories, the willingness to spend has increased. We see this increase in comfort items such as eating out, clothing, and smaller items like accessories, all seen as treats for consumers, a move where we see consumers take back control over their finances. They are also more likely to be open to exploring new brands across all major categories, except for gambling. This highlights a unique market landscape where the ability of brands to influence consumers to switch is increasing while consumer willingness to spend is going up. This is an exciting time for brands seeking to connect with and change the minds of new audiences.
Source: the7stars August QT, our proprietary quarterly tracker
