Milan, 6 September 2022 – Cost of energy, fuel and house rental are the most discussed trend topics on Twitter worldwide regarding the cost of living. The tweets in which keywords related to this topic were used have increased by 130% in recent months, and in particular energy and fuels have occupied 67.9% of users’ conversations on essential goods, while the rent has been conversed five times more than mortgage issues.
This is what emerges from the analysis carried out by Talkwalker, a multinational Consumer Intelligence number one in the world that assists with proprietary technology of listening based on AI (artificial intelligence) over 2,500 brands, on the theme of Customer, Social and Market Intelligence, on the over 16 millions of conversations on Twitter about inflation and the resulting global economic changes.
The report highlights how conversations on the cost of living are multiplying, especially among the new generations. “We found that users in the younger demographic are more actively discussing this issue on Twitter. Specifically, the 25-34 age group led 46% of conversations on this topic – comments Francesco Turco, Talkwalker Marketing Manager Italy – with a peak percentage (+ 144%) “.
Heating, gasoline and rent are the concerns of the people of Twitter
Two topics in particular are the dominant ones: energy and fuel costs are, in fact, the main conversations on Twitter. On the one hand, gas is a highly discussed issue since it concerns the increase in the cost of fuel for heating and on the other hand gasoline is taking center stage among the tweets due to the increase in the cost of fuels. “Linked to this last point – underlines Francesco Turco of Talkwalker – in the last 12 months we have seen an increase in the mentions that have examined electric vehicles, as alternative means to be used to combat expensive fuel, but going to analyzing in detail the Sentiment, or the tenor of the various comments monitored, we noticed how many of those mentions had a negative connotation. The most common expressions used, in fact, were ‘I can barely afford it’ and ‘I cannot afford it’. “
But not only energy, even the costs to be incurred for the home are increasingly holding the bench among the world tweets related to the cost of living. In fact, rental issues are the third most discussed topic on Twitter, mentioned 5 times more than those concerning mortgages, this due to the greater difficulties that renters have to face with rising costs.
#TaxTheRich and #SaveMoney are the rapidly growing topics
In a climate of constant uncertainty, users on Twitter discuss what could be the most effective solutions to be adopted to stem the increases in energy, products and raw materials. People expect governments to promote social change by putting in place policies that manage to contain the impact of the cost of living on citizens. “From our monitoring - continues Francesco Turco, Talkwalker Marketing Manager Italy – we found that about 15% of all Twitter conversations on the cost of living mention taxes. Among these, the #TaxTheRich hashtag is one of the emerging trends, with an increase of 193.7% over the previous year. But not only that, because to counter the cost of living, users of Twitter communities are sharing more and more tips to save, including coupons and discounts. It is no coincidence that #SaveMoney mentions or similar hashtags reached 17% on an annual basis.”
Brand under the lens for pricing policies
In conclusion, an interesting aspect that emerges from the Talkwalker analysis and which involves companies, brands and prices should be taken into consideration. Consumers expect prices to remain as fair as possible, accepting an increase as long as it is the result of an honest process, due to rising material costs or wages, and communicated promptly and transparently. * Otherwise the risk is what is perceived as mere speculation at the expense of the customers themselves. “The mentions of brands and the expression of speculation – concludes Francesco Turco of Talkwalker – increased significantly in May 2022, in fact we recorded a + 185% compared to the previous peak of mentions in August 2021. A significant data that makes us understand a lot well how much the issue of price increases is a topic that is very much felt by consumers and that brands and companies cannot ignore if they want to maintain the trust of their customers in the long term ”.
* The Drum, IPA poll reveals what shoppers want from brands as cost of living bites, May 2022
Press Office Talkwalker Italy
Purple & Noise PR