Cost of living concerns jump to 40%: Broadsheet and SOON Future Studies

Broadsheet Futures Cities 2024 Rework 20_05

A Tale of Two Cities gathered responses from 6,420 readers living in inner-urban neighbourhoods.

Concerns about the cost of living have jumped to 40% from 30% in 2022, according to Broadsheet and SOON Future Studies third annual Future Cities research report.
A Tale of Two Cities gathered responses from 6,420 readers living in inner-urban neighbourhoods. It used audience insight and future thinking to explore the ever-changing landscape of Australian cities.
The report focuses on three prevalent tensions: climate crisis on a budget, new age living, and connected but disconnected.
The findings, supplemented with research, trends, and reports from SOON Future Studies, examine these themes and provide brands and marketers with crucial insights into evolving cultural trends in our cities.

Meanwhile, climate change concerns have dropped by more than half, from 29% in 2022 to 13%.

The report highlighted an increased recognition of the importance of screen-free time, with 75% of Broadsheet readers considering screen-free time as either essential or very important.

This coincides with happiness decreasing across all age groups. According to the report, the trend has flipped from 12 years ago, where people aged 15 to 24 were measured as happier than older generations. The correlation with the uptick in screen time is striking.

Broadsheet Futures Cities 2024 Rework 20_05

For the Broadsheet audience, the survey found younger readers feel like they face more obstacles to making friends than the older cohort, and are lonelier than ever before. Only 24% of younger readers feel they face no obstacles when making friends, compared to a much larger 70% of boomers.

The findings also revealed one in five Broadsheet millennial readers have no desire to have children, which is higher than the global average.
Roya Lines
, Broadsheet studio and strategy director, said: “As we navigate a permacrisis (permanent-crisis), thanks to an aging population, declining birth rates, cost of living crisis and of course, climate change, the shape of our cities is on a path of significant change. People are craving (and in some cases needing) connection, experiences and community with a touch of nostalgia and fun.

“By 2034 the number of people over 65 will outnumber children under 18 for the first time, and those under 18 right now are lonelier than ever before. Our report this year highlights how people from all corners of the world are innovating to change the path we are on and brands that can embrace age, foster community and facilitate connection will be the ones to win.”

Tully Walter, strategic futures director SOON Future Studies, added: “Despite the complexities, deciphering these unstoppable forces provides us with the insights and strategic foresight to adapt and innovate in an uncertain world.

“In analysing the global megatrends with the Broadsheet audience’s emerging attitudes we aim to uncover the opportunities and white spaces to connect with future brands, communities and consumers of the future.”

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