The US is undergoing socioeconomic and demographic changes that will reshape its consumers. In 2025, more Americans will live in urban areas. More households will be without children. The population will be more diverse and older. Income will be almost evenly divided among Baby Boomers, Generation X and Millennials, but overall, the wealthiest 10% of households will control most of it. This report will examine how retailers can adapt to the changes in the US consumer base.
The US is undergoing socioeconomic and demographic changes that will reshape its consumers when it comes to urbanisation, household composition, ethnicity, demographics and income.
According to Euromonitor International’s Consumer Trends Survey from 2015, people still like to shop, but are always looking out for a bargain. Loyalty programmes are more important for wealthy households than the average household. Emerging marketing types, such as social media and celebrity endorsements, resonate more with 15-29 year-olds.
While it is difficult to predict the future of consumer behaviour, the results from Euromonitor’s survey point to key shopper behaviours that may be long lasting. It will be important to take these behaviours into consideration when planning for the future.
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