US: Consumer Profile
Over the period to 2040, the US is set to see an increase in childless households, due to a low birth rate and an ageing population. Increased immigration and rising incomes are expected to drive economic growth and consumption. The US will remain the world’s largest luxury market, despite widening income inequality. The southern states, with robust economies and affordable living, are set to attract domestic and international migrants, boosting population growth.
Euromonitor's US: Consumer Profile report analyses factors influencing national consumer expenditure. Consumer lifestyles reports include coverage of: population, urban development, home ownership, household profiles, labour, income, consumer and family expenditure, health, education, eating habits, drinking habits, shopping habits, personal grooming, clothing, leisure habits, savings and investments, media, communication, transport and travel and tourism. Use this report to understand the factors influencing a nation's lifestyle choices.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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* Get a detailed picture of the Economy market;
* Pinpoint growth sectors and identify factors driving change;
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* Use five-year forecasts to assess how the market is predicted to develop.
- Scope
- Key findings
- Key drivers affecting consumers in the US in 2023
- How developments today shape consumer of tomorrow
- With a sustained immigrant influx, the US to become a majority-minority country by 2045
- The rising prevalence of chronic diseases drives consumers to focus on vitamin supplements
- Gen Z to emerge as a large and highly diverse consumer group by 2040
- New York to remain the largest city, while the southern population is set to grow the fastest
- Opportunities for growth
- GameFlo unveils engaging card game, featuring players from diverse backgrounds
- Singletons continue to dominate, while immigration boost multigenerational living
- Owning a house in a safe, suburban area is a top priority for American households
- Seniors and women to remain the key decision-makers in US households
- Streaming platform usage on the rise in the US as consumers spend more time at home
- Rocket Homes launches AI-driven Apple CarPlay feature to boost homeownership
- Even with lower inflation, permanently higher prices drive consumer cost-consciousness
- High levels of debt lead to financial worries, but Millennials still lead in spending intentions
- Seniors lead the top income bracket due to smart financial planning and accumulated wealth
- Healthcare leads consumer spending, unlike other developed counties with public healthcare
- Nuuly, a clothing rental service for younger, less affluent consumers, becomes profitable
- Key findings consumer survey
- Superior taste drives Baby Boomers to pay more, while Gen Z prioritises health benefits
- Bargain hunting helps US consumers maintain their spending even at times of uncertainty
- Younger US consumers lag behind their older counterparts in eco-friendly activities
- High financial dependency among young adults amplifies consumer financial concerns
- Work-life balance suffers in the US due to career-focused culture
- DS Smith introduces Shop.able carriers to enhance sustainable packaging affordability
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