Four in five radio-listening adults feel they are in the same or better place financially than a year ago, and two-thirds agree that they have a greater sense of financial security. These and other findings come from MRI-Simmons' recently-released July 2021 COVID-19 study, as reported in RAB's latest “Radio Matters” blog.
“Radio listeners have a more positive perspective on the economy and their financial standing,” RAB Senior VP Insights Annette Malave says. “Listeners are looking forward to their future being secure [and] are also prudent about how they spend and save.”
The results contrast with those from a recent survey from Capital One, which found that over half of adults view their financial well-being as changed since the pandemic, and nearly six in ten have completely changed how they think about money due to COVID. MRI-Simmons' research, meanwhile, shows that one in three radio-listening adults (32%) say the pandemic has not had any or not very much impact on their lives personally.
MRI-Simmons' data also show that more than four in five radio-listening adults (83%) believe that investing in their future is very important, with only 4% of listeners having postponed investing in various funds or the stock market, and 3% postponing their retirement. Additionally, 84% say they would rather save up in advance of a purchase than borrow money and be in debt, and that as a result of COVID-19, 25% of listeners have postponed nonessential purchases.
“The data from the MRI-Simmons study confirm [that] radio listeners are confident in their finances and in their future,” Malave says. “Understanding consumers’ financial perspective can help guide and influence how advertisers deliver messages to their potential customers of across a myriad of products and services ranging from everyday needs to unexpected necessities.”