It certainly has not been a normal past few months for the UK. We’ve all felt the effects of the cost-of-living crisis in one way or another. The new Donor Pulse Report (Enthuse) dives deep into how this turbulent period has affected the charity sector and how people give. Here we have listed our team findings to help you gain insight into such a valuable report.
Over the past three months, 75% of the public gave to charity despite rising costs. With half of workers in the UK taking part in workplace charity events, it is safe to assume this is how most donations were made. However, it is important for charities to make sure these events can still work amid various locations.
63% of people feeling worse off than they did 3 months ago and 13% cancelling or decreasing their monthly donations due to cost of living, it means that charities are going to have to adapt their strategy to suit the current economic climate.
The public’s intention to donate remains high with 71% stating they will – the challenge is around lower average donations. Charities need to be mindful of the financial challenges and present multiple donation options for supporters.
The younger generation largely get ignored when it comes to targeting in the charity sector. However, this report shows that 79% of under 40s gave in the last three months (Up from 70% a year ago) and 77% intent to give in the next quarter.
Under 40s, particularly Gen Z, are also doing the best relatively in terms of the cost of living. All the signs are pointing towards younger supporters being a key part of fundraising strategies going forward. We should consider how acquiring a younger demographic is a challenge worth taking on – the rewards can be highly beneficial.
COL has also resulted in less affluent donors donating much less. Enthuse found an 18% difference in the number of people donating earning over 60k and those earning 20k or less. For charities, growth is likely to come from those with higher household incomes – an area to consider tightly targeting.
Overall, from this report we can gather that we are starting to see big changes in the world of charity. Despite apprehensions and uncertainty in the financial stability to fund donations, 71% said they still plan to give in the next three months despite 61% saying they think it’s harder to give to charity now than three months ago.
Two fifths of the public feel the urge to donate “because of a sense of moral duty”, proving the charitable spirit is still strong – this will no doubt increase over the Christmas period. Unfortunately, we haven’t seen the end of cost of living’s effect on the country and its people. Right now, looks like the perfect time for charities and agencies alike, to revaluate their strategies if they want to keep up in these increasingly uncertain times. There are silver linings here for you to consider. If you want to know more about how we can help, click here!
