Amid rapid technological advancements and an unclear sociopolitical future, US consumers across all demographics are reassessing their life priorities. While fundamental emotional needs – such as social acceptance and self-expression – remain constant, how consumers fulfill these needs is evolving. This reflects long-standing Western societal shifts toward post-materialist values, where individuals prioritize autonomy and self-expression over materialistic and community-oriented pursuits. More recently, counter-cultural movements in many Western countries are challenging this trend, in a shift towards greater traditionalism and communitarianism – placing greater importance in collective wellbeing over individual autonomy. An individual’s life stage, cultural background, financial situation and social context play significant roles in determining which side of this values coin they land on.
This report looks at the following areas:
- The racial and ethnic composition of the US, including demographic traits and trends
- The impact of rapid economic, social and technological changes on consumers’ high-level priorities
- Why family serves such an important role, not just as a metric of success, but also its inspiration
- The long-term and short-term goals of US consumers, and how they differ by demographics
- The career aspirations of US consumers, and how they differ by demographics
- How outlooks on life influence the entertainment consumers choose
- Product and marketing examples that cater to changing definitions of success
Despite dynamic changes in technology and society, the human emotional core remains unchanged, leading to evolving approaches to satisfying those needs.
Hiro Takemasa, Senior Consumer Lifestyles Analyst
Market Definitions
This report covers Americans’ changing behaviors and attitudes towards long-term goals and aspirations for life; in other words, “success.”
For the purposes of this Report, “multicultural” refers to adults who identify as Asian/Pacific Islander, Black, Hispanic, or who indicate an unspecified racial or ethnic group or mixed race (denoted as “Mixed race or ethnicity”). White consumers and LGBTQ+ consumers are also included in the research.
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EXECUTIVE SUMMARY
- What you need to know
- Market predictions – scenario 1: prolonged economic uncertainty
- Market predictions – scenario 2: return to a neoliberal global market
- Market predictions – scenario 3: de-globalization and a return of domestic manufacturing
- What consumers want & why
- “Success” is a combination of fulfilling social expectations and intrinsic, emotional needs
- Opportunities
- Continue to leverage technological progress to explore new lifestyles
- Curate themes of individualism and communality in accordance with the target audience
- Uncertainty, a defining characteristic of modern society, creates opportunities for thought leadership
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MULTICULTURAL AMERICA: AN OVERVIEW
- Between 2010 and 2023, the US experienced shifts in growth patterns by race and ethnicity
- Graph 1: population (millons), by race and ethnicity, 2010-23
- Graph 2: population growth (% annual change), by race and ethnicity, 2010-23
- Those self-identifying as multiracial account for more than one in 10 of the US population
- The US LGBTQ+ population – in many ways a culturally distinct group – continues to grow
- Graph 3: percentage of LGBTQ+ adults in the US, 2012-24
- Educational attainment, which had grown for decades, has flattened since 2020
- Graph 4: aged 25+ and completed 4 years of college or more, by race and ethnicity, 2011-22
- Clear preferences within race and ethnic groups should inform educational products and services targeting
- Graph 5: industry of those employed, by race and ethnicity, 2023
- Median household income growth has plateaued since COVID-19
- Graph 6: median household income ($ thousands), by race and Hispanic origin, 2014-23
- Graph 7: median household income, by race and Hispanic origin, 2023
- Appreciating assets influence consumer reactions to inflation
- Graph 8: mean value ($ thousands) of select assets for households, by race and ethnicity, 2022
- Socioeconomic context shapes goals and outlooks
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MARKET DYNAMICS
- Market context
- Growing uncertainty drives a 20% decline in consumer sentiment from December 2024-March 2025
- Graph 9: consumer sentiment index, 2022-25
- Headline inflation cools in February after five months of increases
- Graph 10: headline CPI and core CPI, 2021-25
- Close to half of consumers have seen their financial situations change for the better in the past year
- Graph 11: change in financial situation over the past 12 months, 2023-25
- Market drivers
- Consumers are Redefining Adulthood as costs for childcare increase
- Cost of shelter and childcare have outpaced general inflation since 1995
- Graph 12: consumer price index of shelter and tuition and childcare (1995 = 100), 1995-2024
- Having children later in life creates new needs and opportunities
- Graph 13: average age of mother at first birth, by race and ethnicity, 2016-22
- Technology, change and entrepreneurship
- Individuality and expression are core modern values
- Inglehart–Welzel: self-expression rises as threats to survival diminish
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CONSUMER INSIGHTS
- Consumer fast facts
- Family as a motivation and measure of success
- Despite changing social values, family and home ownership endure as symbols of success
- Half of all consumers see family is a key sign of success
- Graph 14: important signs of success (select up to three), 2024
- Portraying a successful life relies on traditional metrics such as family, home ownership and education
- Graph 15: important signs of success (select up to three), by race and ethnicity and LGBTQ+, 2024
- Consumers’ image of a successful life is overwhelmingly shaped by their family members
- Graph 16: role models of success (select all that apply), 2024
- Family maintains its strong influence across races and ethnicities
- Graph 17: role models of success (select all that apply), by race and ethnicity and LGBTQ+, 2024
- Craft convincing narratives by evaluating the reasons “family” is central in portraying success
- The rise of individualism in younger generations
- Graph 18: role models of success (select all that apply), by generation, 2024
- Consider both financial realities and aspirations when marketing to younger generations
- Graph 19: important signs of success (select up to three), by generation, 2024
- Asian Americans are especially attuned to home ownership
- Messaging with pets should emphasize the emotional fulfillment of caretaking
- Partner with social media influencers at the forefront of modern lifestyle advocacy
- Graph 20: role models of success (select all that apply), by generation and Gen Z by race, ethnicity, 2024
- Select influencers with specific traits that resonate with younger consumers to maximize appeal
- Core values and near-term goals
- In an age of change, US consumers recognize the importance of continuous learning
- Self-improvement, physical health and family are top life goals; more leisure time and saving for retirement drive goals for the next five years
- Graph 21: five-year goals (select all that apply), 2024
- Graph 22: most important goals in life (select up to three), 2024
- Life goals are largely consistent between race and ethnic groups
- Graph 23: most important goals in life (select up to three), by race and ethnicity and LGBTQ+, 2024
- Self-improvement, health and family are universally important themes
- Near-term goals are influenced by age/life stage and financial realities
- Graph 24: five-year goals (select all that apply), by race and ethnicity and LGBTQ+, 2024
- Look to data indicating life stage and financial health to target specific life milestone products
- Consider how consumers’ life stage influences their outlook
- Graph 25: most important goals in life (select up to three), by generation, 2024
- Priorities differ depending on personal economic conditions
- Graph 26: most important goals in life (select up to three), by financial health, 2024
- Career interests
- The tech industry has revolutionized how we live – will its prestige as a career last?
- Tech and creative are top industry choices
- Graph 27: desired career industries (select up to three), 2024
- High variation exists between races and ethnicities
- Graph 28: desired career industries (select up to three), by race and ethnicity and LGBTQ+, 2024
- Tech creates alternative opportunities for education
- Graph 29: desiring a career in Technology, by educational attainment and race and ethnicity, 2024
- Is Generative AI changing the software developer career?
- Cater to a new class of worker – remote work and the desire for exploration and flexibility birthed the Digital Nomad
- Emphasize the creative industry’s social impact and potential for self expression
- Graph 30: desiring a career in creative industry, by generation, race and ethnicity, 2024
- Healthcare industry represents stability and financial success to many Asian Americans
- Graph 31: interest in healthcare industry, by all and select Asian demographics, 2024
- Leisure and entertainment priorities
- The importance of community engagement in entertainment continues to grow
- Reasons for consuming entertainment reflect consumers’ perspectives on life
- Graph 32: important factors for leisure entertainment (select up to three), 2024
- Multicultural nuances manifest themselves in preferences for entertainment
- Graph 33: important factors for leisure entertainment (select up to three), by race and ethnicity and LGBTQ+, 2024
- Multicultural nuances manifest themselves in preferences for entertainment
- Be aware of generational differences in entertainment consumption
- Graph 34: important factors for leisure entertainment (select up to three), by generation, 2024
- The rising importance of community in fandom
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INNOVATION AND MARKETING STRATEGIES
- Launch activity and innovation
- 3D fabrication checks many boxes of the modern, adaptable consumer
- Old solutions are transformed by new tech and design
- “Humanization” of pet products caters to growing emotional importance of pets
- Digital nomads create a need for international banking solutions
- Marvel Rivals – a team-based game that satisfies emotional social needs of young consumers
- Marketing and advertising
- Pedigree encouraging pet humanization through the “Take a Baby Step” campaign
- As younger generations delay homebuying, Chase invests in savings education and digital-first solutions
- Use multiple signifiers of success to align emotionally with target audiences
- “Tear the Paper Ceiling” PSA campaign emphasizes skills over degrees
- Gaming companies promote community creation and involvement
- Travel satisfies modern drives of exploration and learning
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APPENDIX
- Market definition
- Consumer research questions
- Consumer research methodology
- Generations
- Abbreviations and terms
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