Stagwell Inc.

09/05/2024 | Press release | Distributed by Public on 09/05/2024 13:11

WHAT THE DATA SAY: 81% say fast-food prices are higher; 41% say ‘much higher’

YOUNG PEOPLE ASK, 'CAN YOU HEAR ME NOW?'

Young Americans are feeling left out of this year's U.S. presidential election, based on our Harris Poll survey with UNICEF.

  • 53% of those ages 14 to 22 feel excluded from the U.S. political process.
  • 73% say their opinions do not matter to elected officials.
  • 81% feel people in positions of power do not care about what young people have to say.
  • Young people believe cost of living/housing affordability (60%), immigration (39%) and global conflict (35%) are the most important issues facing the country.
  • 80% think people their age can make a difference, and 64% are engaging politically in some way.

AMERICANS EATING OUT LESS AS PRICES RISE

Fast food has long been an affordable meal option for busy families. Yet 8 in 10 Americans today are noticing steep price hikes, based on our latest Harris Poll "QSR & Fast Casual Industry Snapshot."

  • 32% of U.S. adults agree that quick service restaurants (QSRs) offer affordable meal options.
  • 36% say price is the most important factor when eating out.
  • 81% who have ordered from QSRs at least once in the last year say prices are higher - and 41% describe prices as "much higher."
  • 35% also have noticed "shrinkflation" - reducing the quantity or size of an item without reducing the price.
  • What do most consumers consider to be a fair fast-food meal price? 47% say $5-$9.99.
  • Men are willing to pay more: 38% of men say that $10-$14.99 is a fair price for a full meal (compared with 29% of women).
  • Price hikes are taking a toll: 45% are eating out less now than they did a year ago.
  • See also: Consumers want to pay $1 for a chocolate bar, $2 for a bag of chips and $3 for a gallon of gas

1 IN 3 STALLING ON STUDENT DEBT PAYMENTS

Nearly 43 million Americans have student loan debt, and 1 in 3 are foregoing repayments in hopes of government-funded forgiveness, according to our Harris Poll survey with NerdWallet.

  • 31% of student loan borrowers say they have slowed repayment of their loan, hoping the federal government will reduce or forgive the loans.
  • 23% have stopped their student loan payments completely for the same reason.
  • 25% say they are concerned the courts will reverse recent student loan forgiveness efforts.
  • 22% say student loan forgiveness is one of the most important issues when choosing a presidential candidate.

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