American Lifestyles: Finding Common Ground - US - April 2017
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“Americans may be questioning what lies ahead with a new administration in the White House, but any uncertainty they may have hasn’t significantly changed their outlook on spending. Most agree that their financial situations will stay the same, or even improve in the next 12 months. Even with a majority feeling financially stable, it is clear that people are looking for more – increased incomes, greater opportunities, and meaningful work would go a long way to improving Americans’ quality of life.”
- Dana Macke, Senior Analyst, Lifestyles and Leisure
This report will cover the following areas:
The US population grew to an estimated 327 million in 2017, increasing about 4% in the past five years. This relatively slow growth is the result of a declining birthrate following the recession of December 2007-July 2009. Although birthrates have improved slightly since bottoming out in 2013, relatively flat growth is expected to persist. The Millennial generation (aged 23-40 in 2017) is becoming a more important segment of the population as they overtake Baby Boomers (aged 53-71) as the largest generational cohort (25% of the US population vs 23%). As the generations age, Millennials will increase their political and economic power compared to the shrinking Boomer group. This generational replacement means that most brands will look to appeal to Millennial consumers as a primary target. Younger generations are distinctly more diverse than older generations, and the US is becoming more multicultural every year. Despite concerns about the resettling of refugees in this country, this group makes up a very small share of foreign-born Americans.
The good news continues for the American economy with GDP growth of 1.6% in 2016, an unemployment rate below 5%, and rising household incomes. Although the country is experiencing the third-longest economic expansion in US history, there aren’t any telltale signs that the economy is headed for a downturn. The stock market has hit record highs, the Federal Reserve expects to raise interest rates, and companies are generally positive about Trump’s plans for tax cuts and other business-friendly policies.
This Report provides a comprehensive overview of Americans’ total spending across 18 consumer markets. A demographic profile of Americans and future projections, as well as an examination of the economic conditions and issues impacting Americans are included. An in-depth analysis of Americans’ purchasing priorities and how they feel about the future of their personal financial situations is also evaluated.
This Report builds on the analysis presented in Mintel’s American Lifestyles 2016: Balance or Bust, as well as the 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008, and 2007 Reports of the same title. This Report also includes findings from more than 120 published Mintel Reports across 18 consumer markets: food (at home); dining out; alcoholic drinks (at home); alcoholic drinks (out of home); non-alcoholic drinks (in home); beauty and personal care; OTCs and pharmaceuticals; household care; clothing, footwear, and accessories; technology and communications; vacations and tourism; leisure and entertainment; home and garden; transportation; personal finance; housing; healthcare and vision; and miscellaneous.
This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:
What They Want. Why They Want It.
Who’s Winning. How To Stay Ahead.
Size, Segments, Shares And Forecasts: How It All Adds Up.
New Ideas. New Products. New Potential.
Where The White Space Is. How To Make It Yours.
What’s Shaping Demand – Today And Tomorrow.