WASHINGTON, July 22, 2020 Today Franklin Templeton and Gallup
launched a new research project to analyze the course of economic
recovery from COVID-19 in the U.S. The new Franklin
Templeton-Gallup Economics of Recovery Study will combine monthly
surveys of U.S. adults with big data to capture Americans'
readiness to resume pre-COVID-19 behaviors at a critical
moment.
Gallup research has established that economic decision-making is
up to 70% emotional and 30% logical. By pairing Americans' stated
attitudes in the surveys with data on actual behavior from sources
that track activities such as daily trends on visits or bookings to
restaurants or claims for unemployment benefits, the project will
offer a wide-ranging view of the behaviors of U.S. adults and the
factors influencing them.
Amid new surges of cases in certain parts of the U.S., the
monthly surveys will consist of a stable core of items – allowing
trending – as well as topical items to reflect new developments.
Key survey topics will include:
- Understanding the different public health-related scenarios in
which consumers would resume previous spending levels.
- Assessing consumers' support for reopening key services such as
daycares, schools, restaurants, nonessential businesses, etc.,
through experimental methods consisting of showing respondents
different visual representations of the public health impact of
COVID-19.
- Reporting recent or planned visits to or orders from
restaurants, recent purchases of plane tickets, recent bookings of
hotel reservations or rental cars.
- Testing consumers' willingness to eat inside restaurants at
different occupancy levels and identifying the premium airline
passengers would pay to ensure empty seats around them.
"The Franklin Templeton-Gallup Economics of Recovery Study will
offer frequent, large-scale updates on consumer attitudes at one of
the most disrupted moments in U.S. history," said Stephanie Marken, Gallup executive director of
research. "Combining novel survey research methods with large
administrative datasets, the forthcoming analyses will provide a
robust, long-range view of consumer attitudes and actual consumer
behavior."
"We're excited to be partnering with Gallup on this new research
project," said Sonal Desai, CIO,
Franklin Templeton Fixed Income. "Understanding the attitudes and
behaviors of U.S. consumers as the country finds a new footing will
be critical for understanding the human element of when and under
what circumstances Americans feel comfortable resuming key
activities, even if those activities are done in new ways."
This unprecedented, large-scale research effort will include
interviews with thousands of U.S. adults monthly to understand
their behaviors and attitudes toward resuming pre-COVID-19
behaviors and the extent of unemployment and underemployment
brought about by the associated economic damage. By the end of
2020, Franklin Templeton and Gallup
will have interviewed 35,000 U.S. adults.
Significant sample sizes will allow Franklin Templeton and Gallup to report results
at the national, regional, state and even larger metropolitan area
levels. Franklin Templeton and
Gallup will also be able to report and describe the
disproportionate impact of the disease and how behaviors differ
among more vulnerable populations nationally, as previous research
has confirmed that economic damage is unequally distributed.
Results will be available for members of different income,
race/ethnicity, political party, age and gender groups.
Initial results from the surveys and administrative dataset
analyses will be available in August. To learn more about the
project findings and release schedule, please contact Riley Brands at Riley_Brands@gallup.com or read
the Gallup project announcement here.
About Gallup
Gallup delivers analytics and advice to help leaders and
organizations solve their most pressing problems. Combining more
than 80 years of experience with its global reach, Gallup knows
more about the attitudes and behaviors of employees, customers,
students and citizens than any other organization in the world.
About Franklin
Templeton
Franklin Resources, Inc. (NYSE: BEN) is a global investment
management organization operating, together with its subsidiaries,
as Franklin Templeton. Franklin
Templeton's goal is to deliver better outcomes by providing global
and domestic investment management to retail, institutional and
sovereign wealth clients in over 170 countries. Through
specialized teams, the company has expertise across all asset
classes, including equity, fixed income, alternatives and custom
multi-asset solutions. The company's more than 600 investment
professionals are supported by its integrated, worldwide team of
risk management professionals and global trading desk
network. With employees in over 30 countries, the California-based company has more than 70
years of investment experience and over $622
billion in assets under management as of June 30, 2020. For more information, please
visit franklintempleton.com.
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SOURCE Gallup, Inc.