Slowly, suggests polling on consumer interest in American-made goods.
An annual Made In America poll is out this week, and it’s got a couple of interesting items in it about how consumers prioritize American-made products.
Because Morning Consult releases this report yearly, we’ve got last year’s in hand. As such, we better determine which way the wind is blowing.
The big takeaway is a consistent one: Roughly half of all U.S. adults are willing to pay more for an American-made product. And, also just like last year, Americans of almost all ages and political persuasion have sought out Made In America stuff at least some of the time.
But notice the word “almost” in that last sentence. Gen Z – the Zoomers – are the only big demographic group that notably doesn’t seek out domestically made stuff. And just like last year, they’re the least likely to pay a premium for it. This tracks, if you think about it; they’re the most price-sensitive because they’re young and have got the least amount of money.
There’s a slight difference in the returns on Gen Z this year, though, write the pollsters:
While Gen Z adults are least likely (to) say they would pay more from “Made In America” products relative to other generations, their willingness to do so is on the upswing: Over one-third (39%) say they would pay more for such goods compared with only 33% in June 2023, marking a 6-point annual increase. The trend signals a potential growth opportunity for companies who have heretofore avoided marketing “Made in America” products to Gen Z consumers, subject to several important caveats.
Interesting! Despite inflation, which has dropped, and high interest rates, the Zoomers are slowly becoming more interested in domestically made stuff. The Morning Consult report can be found here.