American Business Executives Grapple With Ongoing Uncertainty, According to New Study

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Oomiji
Oomiji

Survey from Oomiji Finds Economy, War are Top Concerns, but Sees Reason for Hope

NEW YORK, Aug. 08, 2022 (GLOBE NEWSWIRE) -- More than one-third of American business executives are curtailing their spending due to economic uncertainty according to a new survey from Oomiji, the leading customer engagement platform. The 14-question study, which examined 350 responses from American business executives across industries, also found that the majority of engaged professionals believe that businesses’ values should be more egalitarian and inclusive in light of challenging geopolitical and economic conditions.

Oomiji conducted the survey using its best-in-class customer engagement platform, which enables marketers to analyze audience segments and customize outreach based on open-ended surveys and language processing analytics. By engaging a large cross-section of information-economy workers, Oomiji found that:

  • A large majority (93%) said they are planning on maintaining or cutting their spending levels in the immediate future.

  • Among those who say they are cutting back (34%), uncertainty was the dominant reason (46%), followed by fears of inflation (21%).

  • Nearly two-thirds of the respondents hold that governments and businesses need to cooperate to address supply chain challenges.

  • In light of global uncertainty and economic challenges, 64% said that businesses should put more emphasis on promoting values that will improve the world.

“Americans are still struggling after years of disruption stemming from the pandemic, and evolving threats like the war, climate change and supply chain disruptions have led to a broad shift in concerns and behaviors among many in the business community,” said Jon Stamell, CEO and founder of Oomiji. “Despite that, we see yearning for cooperation and enduring hope that we can work together to overcome these challenges.”

The Oomiji platform also prompted respondents to share their thoughts in their own words at certain intervals. Some noteworthy responses from the business audience included:

  • “They [businesses] should find creative, innovative solutions that advance community values without compromising growth. Otherwise cause-related business decisions are a hidden tax on shared prosperity.”

  • “Reject the term "stakeholders"--which means rent-seekers. Focus on value creation and return on investment.”

  • “I had been spending too much on “things" that I didn't need, and now see more value in saving for family adventures and experiences that have more meaning.”

“Oomiji’s data collection and analytics capability is extremely valuable for marketers, and it’s heartening in this case to see that people can shift their values and behaviors to recognize the more important things in life,” Stamell said.

About Oomiji
Oomiji is a Customer Engagement Platform that enables clients to build customer relationships based on their interests, needs, perceptions and emotions. The result is increased engagement, loyalty and sales. Oomiji enables brands to pose questions to their customers, analyze their answers and segment audiences by way of surveys, language processing and analytics. It drives engagement and business outcomes by facilitating customer communication based on stated emotions and interests rather than past behaviors. Oomiji’s integration of market research, CRM and email marketing produces new vantage points from which to see issues, solve problems and engage audiences.

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Hugh Moore
Broadsheet Communications
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