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American Lifestyles: Finding Common Ground - US - April 2017

Published By :

Mintel

Published Date : May 2017

Category :

Lifestyle

No. of Pages : N/A

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.

Table of Content

OVERVIEW
What you need to know
Definition

EXECUTIVE SUMMARY
America today
America in 2017
The people
The economy
The consumer
Consumers are positive about their financial situations
Figure 1: Perceptions of financial health, 2013-17
Most are optimistic about the future of their finances
Figure 2: Postelection and post-inauguration attitudes toward financial situations, November 2016 and February 2017
Consumers less likely to feel they’re “spending more”
Figure 3: Perceived change in spending – Spending more, by category, difference 2016-17
Consumers still splurge on dining – but may be cutting back
Figure 4: Where extra money is spent, January 2017
Dissatisfaction across the middle class
Figure 5: Middle-class values, January 2017
Americans hyperaware of the country’s pressing issues
Figure 6: Concerns for the country, January 2017
What it means

AMERICA TODAY – WHAT WILL IMPACT 2017
New immigration policies may shift the labor landscape
Expectations for international trade may change
Growing gap between college- and high school-educated Americans
Where jobs leave, opioids move in
Updated healthcare plan on shaky ground
Americans become politically reactive

AMERICA TODAY – THE PEOPLE
What you need to know
US population tops 326 million
Figure 7: US population share by region, 2015
Millennials make up the largest share of US population
Figure 8: US population, by generation, 2017
Younger age groups are more diverse
Figure 9: Distribution of population, by age and race/Hispanic origin, 2016
Refugee population remains minimal in the US
Figure 10: Refugee arrivals: Fiscal Years 1990-2015
Birthrate expected to remain flat
Figure 11: Number of births (in thousands) and fertility rate, 2005-15
Improving birth rates for moms aged 35+
Figure 12: Birthrates, by age of mother, 1990-2013
Single households grow in share
Figure 13: Family and nonfamily households as a percentage of total households, 2006-16

AMERICA TODAY – THE ECONOMY
What you need to know
Record-breaking economic expansion
Figure 14: GDP change from previous period and personal consumption expenditures, Q1 2007-Q4 2016
Stock market rallies postelection but falls with healthcare bill failure
Figure 15: Daily closing value of the Dow Jones Industrial Average, March 2012-February 2017
Interest rates: nowhere to go but up
Consumer confidence remains high amid political uncertainty
Figure 16: Consumer Sentiment Index, January 2007-March (preliminary results) 2017
Gas prices anticipated to rise as production slows
Figure 17: US gasoline and diesel retail prices, January 2007-February 2017
Median household income gets a boost
Figure 18: Median household income, in inflation-adjusted dollars, 2000-15
Unemployment remains low
Figure 19: Unemployment and underemployment, January 2007-January 2017
DPI growth slows
Figure 20: Disposable personal income change from previous period, January 2007-December 2016

AMERICA TODAY – THE MARKET
What you need to know
Total US consumer expenditures grow 3.3%
Housing
Healthcare
Transportation
Figure 21: Total US market value, by category ($ billions), 2016
Figure 22: Percentage change in US market value, by category, 2015-16
Outlook for 2020
Winners in the next five years
Facing challenges in the next five years
Figure 23: Total US best- and worst-case forecast market value at current prices, 2011-21
Figure 24: Forecast growth rate of fastest- and slowest-growing categories, 2016-21

CATEGORY REVIEW – IN-HOME FOOD
What you need to know
What we think
Healthful eating and a bit of indulgence drive retail food sales
Figure 25: Total US in-home foods market value, 2011-16
Slow, steady growth to continue
Figure 26: Best- and worst-case forecast of in-home food market value, at current prices, 2011-21
What it means
Facilitating healthful eating
Enabling snacking
Providing small indulgences
Cold cereal lacks convenience, satiety
Shelf-stable vegetables overshadowed by fresh
Packaging innovation: greater transparency and functionality
Power to the plants
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 27: Perceived change in spend on in-home food, January 2013-17
Key consumer findings

CATEGORY REVIEW – DINING OUT
What you need to know
What we think
Restaurants can’t rely on what’s worked in the past
Figure 28: Total US dining out market value, 2011-16
The “fast fine” segment is the wave of the future
Figure 29: Best- and worst-case forecast of dining out market value, at current prices, 2011-21
What it means
The lines that once divided the restaurant industry are becoming blurred
Technology will continue to be a factor shifting the restaurant experience
Growth and expansion of existing concepts will no longer be in a straightforward path
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 30: Perceived change in spend on dining out, January 2013-17
Key consumer findings

CATEGORY REVIEW – ALCOHOLIC DRINKS (IN HOME)
What you need to know
What we think
Dollar sales of alcoholic drinks at home grew 18% from 2011-16
Figure 31: Total US alcoholic drinks (in home) market value, 2011-16
Strong positive sales forecast for 2016-21
Figure 32: Best- and worst-case forecast of alcoholic drinks (in home) market value, at current prices, 2011-21
What it means
Nutritional transparency and highlighting health benefits
Smaller formats may help inspire trial
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 33: Perceived change in spend on alcoholic drinks (in home), January 2013-17
Key consumer findings

CATEGORY REVIEW – ALCOHOLIC DRINKS (OUT OF HOME)
What you need to know
What we think
On-premise sales pass the $100 billion mark
Figure 34: Total US alcoholic drinks (out of home) market value, 2011-16
Restaurants benefit from the growing alcohol market
Figure 35: Best- and worst-case forecast of alcoholic drinks (out of home) market value, at current prices, 2011-21
What it means
Sparkling wines shine in foodservice
Fresh ingredients are pushing out premade mixers
A unique experience sets a bar apart
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 36: Perceived change in spend on alcoholic drinks (out of home), January 2013-17
Figure 37: Perceived change in spend on alcoholic drinks (out of home), by household income, January 2017
Key consumer findings
Figure 38: Alcoholic drinks (out of home) – New drink trial motivators, February 2016

CATEGORY REVIEW – NON-ALCOHOLIC DRINKS
What you need to know
What we think
Dollar sales of non-alcoholic drinks grew 27% from 2011-16
Figure 39: Total US non-alcoholic drinks market value, 2011-16
Non-alcoholic beverages are forecast to grow by 11% from 2016-21
Figure 40: Best- and worst-case forecast of non-alcoholic drinks market value, at current prices, 2011-21
What it means
Consumers look for added benefits
Blurring category lines will help both strong and struggling drink categories
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 41: Perceived change in spend on non-alcoholic drinks, January 2013-17
Key consumer findings

CATEGORY REVIEW – BEAUTY AND PERSONAL CARE
What you need to know
What we think
BPC category continues to experience steady growth
Figure 42: Total US beauty and personal care market value, 2011-16
Slow but steady growth anticipated through 2021
Figure 43: Best- and worst-case forecast of beauty and personal care market value, at current prices, 2011-21
What it means
Color cosmetics category sees a lift in light of current trends
Hotter than average summer propels sun care sales
Ethical claims reach younger generations
Natural offerings increasingly important
Nail color and care struggles continue
Consumers still apathetic toward fragrances category
Customizable products are in demand
Themes of inclusivity and celebrating diversity become more prevalent
Interactive shopping experiences engage younger shoppers
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 44: Perceived change in spend on beauty and personal care, January 2013-17
Key consumer findings

CATEGORY REVIEW – OTC AND PHARMACEUTICALS
What you need to know
What we think
OTC and pharmaceutical market trajectory continues upward
Figure 45: Total US OTC and pharmaceuticals market value, 2011-16
Growth in the OTC and pharmaceuticals market will persist
Figure 46: Best- and worst-case forecast of OTCs and pharmaceuticals market value, at current prices, 2011-21
What it means
Focus on families; engage with natural remedies
Incontinence products undergo makeover; sales soar
Allergy switch from Rx-to-OTC boosts market; shelf becoming increasingly crowded
Gummies are a mainstay in VMS
New external analgesic launches provide a boost to mature analgesics market
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 47: Perceived change in spend on OTCs and pharmaceuticals, January 2013-17
Key consumer findings

CATEGORY REVIEW – HOUSEHOLD CARE
What you need to know
What we think
Innovation edges up growth in mature household category
Figure 48: Total US household care market value, 2011-16
Convenience and safety likely to influence future growth
Figure 49: Best- and worst-case forecast of household care market value, at current prices, 2011-21
What it means
Value and extended usage drive spending on paper products
Innovative laundry formats appeal to a need for convenience, personalization
Consumers demand functionality, convenience from household surface cleaners
Themes of changing household dynamics permeate category
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 50: Perceived change in spend on household care, January 2013-17
Key consumer findings

CATEGORY REVIEW – CLOTHING, FOOTWEAR, AND ACCESSORIES
What you need to know
What we think
Value continues to rise despite a softening market
Figure 51: Total US clothing, footwear, and accessories market value, 2011-16
Future lies in retailers’ abilities to cater to modern shoppers
Figure 52: Best- and worst-case forecast of clothing, footwear, and accessories market value, at current prices, 2011-21
What it means
Apparel sales drag down the category
Menswear is currently outperforming womenswear
One bright spot in the apparel market is fitness clothing
Footwear moves forward at steady pace
Soft sales seen in accessories
Little change for children’s apparel
Amazon challenges competitors
What’s next? It’s all about technology.
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 53: Perceived change in spend on clothing, footwear, and accessories, January 2013-17
Key consumer findings

CATEGORY REVIEW – TECHNOLOGY AND COMMUNICATIONS
What you need to know
What we think
Sales growth roughly at pace with inflation
Figure 54: Total US technology and communications market value, 2011-16
Slow growth a victory
Figure 55: Best- and worst-case forecast of technology and communications market value, at current prices, 2011-21
What it means
Tablets struggling
Apple’s triumph in smartphones continues
Wearable leaders’ sales soften
Nest, Echo shine
Mobile service leaders flourish
Smart home, new wearables fill sales gap from older categories
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 56: Perceived change in spend on technology and communications, January 2013-17
Key consumer findings

CATEGORY REVIEW – VACATIONS AND TOURISM
What you need to know
What we think
US travel market continues to experience strong growth
Figure 57: Total US vacations and tourism market value, 2011-16
Future growth no longer driven by low gas prices
Figure 58: Best- and worst-case forecast of vacations and tourism market value, at current prices, 2011-21
What it means
Airline industry thrives
Airline sites still capture large share of booking traffic
Future of international travel is uncertain
Sharing sector grows
Agents may find room for growth
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 59: Perceived change in spend on vacations, January 2013-17
Key consumer findings

CATEGORY REVIEW – LEISURE AND ENTERTAINMENT
What you need to know
What we think
Consumers continue to treat themselves with leisure and entertainment
Figure 60: Total US leisure and entertainment market value, 2011-16
Spending forecast to grow more slowly through 2021
Figure 61: Best- and worst-case forecast of leisure and entertainment market value, at current prices, 2011-21
What it means
Incorporating technology to drive interest
Casinos seek to attract younger consumers
What’s a boon for some sectors leads to bust in others
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 62: Perceived change in spend on leisure and entertainment, January 2013-17
Key consumer findings in leisure and entertainment

CATEGORY REVIEW – HOME AND GARDEN
What you need to know
What we think
Home and garden market maintains slow, steady growth
Figure 63: Total US home and garden market value, 2011-16
Home and garden poised for steady growth
Figure 64: Best- and worst-case forecast of home and garden market value, at current prices, 2011-21
What it means
Innovation and premiumization boost major household appliances
Beverage making appliances struggle, tempering small kitchen appliance growth
Relaxing space, healthy living ambitions benefit lawn and garden market
Smaller, multifunctional products poised for growth
The pursuit of hygge in America
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 65: Perceived change in spend on home and garden, January 2013-17
Key consumer findings

CATEGORY REVIEW – TRANSPORTATION
What you need to know
What we think
Low fuel prices saving Americans billions of dollars
Figure 66: Total US transportation market value, 2011-16
Uncertainty looms over future of transportation
Figure 67: Best- and worst-case forecast of transportation market value, at current prices, 2011-21
What it means
The future remains uncertain
Consumers demand safety
Connectivity improves
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 68: Perceived change in spending on transportation, January 2015-17
Key consumer findings

CATEGORY REVIEW – PERSONAL FINANCE
What you need to know
What we think
Consumer expenditures rise along with financial services revenue
Figure 69: Total US personal finance market value, 2011-16
Industry forecast for moderate growth
Figure 70: Best- and worst-case forecast of personal finance market value, at current prices, 2011-21
What it means
Financial services gain trust
Increased usage of payment technologies
Wearable tech options to expand
Advancements in digital assistants will surely continue
Last year’s predictions and outcomes
Key consumer findings
Figure 71: Investable assets, by generation, November 2016
Figure 72: Self-described grade on financial knowledge, by gender, March 2016
Figure 73: Insurance ownership, by marital status, January 2016

CATEGORY REVIEW – HOUSING
What you need to know
What we think
Housing expenditures continue stable growth
Figure 74: Total US housing market value, 2011-16
Future expenditures may be challenged by uncertainty
Figure 75: Best- and worst-case forecast of housing market value, at current prices, 2011-21
What it means
Housing market predicted to remain solid in 2017
Last year’s predictions and outcomes
Key consumer findings

CATEGORY REVIEW – HEALTHCARE AND OPTICAL GOODS
What you need to know
What we think
Increased spending driven by coverage, population, and economy
Figure 76: Total US healthcare market value, 2011-16
ACA’s unknown fate yields future uncertainty
Figure 77: Best- and worst-case forecast of healthcare market value, at current prices, 2011-21
What it means
Telehealth improving cost and convenience
Hospital stays on the decline
Automation to streamline healthcare
Last year’s predictions and outcomes
Key consumer findings

CATEGORY REVIEW – MISCELLANEOUS
What you need to know
What we think
Miscellaneous spending growth driven by services
Figure 78: Total US market value of miscellaneous spending, 2011-16
Market forecast for relatively stronger gains over the next five years
Figure 79: Best- and worst-case forecast of miscellaneous spending market value, at current prices, 2011-21
What it means
Growth in pet spending continues
Americans are kicking the habit – or refraining from starting one
Moderate growth expected for education services
Traditional news media faces challenges
Last year’s predictions and outcomes
Changing consumer spending habits
Figure 80: Spending vs saving and having extra money, January 2013-17
Key consumer findings

THE CONSUMER – WHAT YOU NEED TO KNOW
2017 consumer trends to watch
Financial situations remain strong, overall
Strain on the middle class is about more than just money
A majority are concerned with the issues America faces

THE CONSUMER – TRENDS FOR 2017
Trend: The Echo Chamber of Secrets
Figure 81: Attitudes toward trends – Echo Chamber of Secrets, January 2017
Trend observation: Bar Roulette
Trend: Reality 2.0
Figure 82: Attitudes toward trends – Reality 2.0, January 2017
Trend observation: IKEA catalog app
Trend: Be the Change
Figure 83: Attitudes toward trends – Be the Change, January 2017
Trend observation: Starbucks FoodShare
Trend: Life in Sync
Figure 84: Attitudes toward trends – Life in Sync, January 2017
Trend observation: Amazon Alexa devices

THE CONSUMER – HOW EXTRA MONEY IS SPENT
Perceptions of finances remain stable (and positive)
Figure 85: Perceptions of financial health, 2013-17
More consumers hold steady on spending
Figure 86: Perceived change in spending, by category, January 2017
Figure 87: Perceived change in spending – Spent more, by category, 2016-17
Men and women indulge differently
Figure 88: Spending more or less – Select items, by gender, January 2017
Allocation of extra money aligns with previous years
Figure 89: Where extra money is spent, January 2017 vs January 2016
Younger consumers saving – but not necessarily through investments
Figure 90: Where extra money is spent – Select items, by age, January 2017
White consumers more likely to spend on experiences
Figure 91: Where extra money is spent – Select items, by race, January 2017

THE CONSUMER – MIDDLE-CLASS VALUES
About half of Americans consider themselves “middle class”
Figure 92: Middle-class values, January 2017
Higher-income households still consider themselves “in the middle”
Figure 93: Attitudes toward socioeconomic status – Perceptions of middle class, by household income, January 2017
Middle-class Americans struggle with more than a lack of money
Figure 94: Middle-class values – Select items, by socioeconomic status, January 2017
Region doesn’t drive significant differences in attitude
Figure 95: Middle-class values – Select items, by region, January 2017
Older, White, and male Americans more likely to feel values are shared
Figure 96: Shared values, by key demographics, January 2017
Young adults less satisfied, but feel they have opportunities to advance
Figure 97: Attitudes toward socioeconomic status – Income mobility, by age, January 2017

THE CONSUMER – THE STATE OF THE COUNTRY
Concerns about the country abound
Figure 98: Concerns for the country, January 2017
Figure 99: Personally concerned with economic/financial issues, November 2011
Immigration concerns may extend beyond a fear of job loss
Figure 100: Concerns for the country – Select items, by age, January 2017
Black adults concerned with local issues
Figure 101: Concerns for the country – Select items, by race, January 2017
Macro issues appear more pressing for high-income Americans
Figure 102: Concerns for the country – Select items, by socioeconomic status, January 2017
Large majority of Americans concerned with maintaining lifestyles
Figure 103: Concerns for the country – Maintaining standard of living, by household income and education, January 2017

THE CONSUMER – LOOKING PAST THE ELECTION
Consumers more positive about the US economy than their personal prospects
Figure 104: Impact of the presidential election, February 2017
Most feel their financial situation will remain unchanged
Figure 105: Postelection and post-inauguration attitudes toward financial situations, November 2016 and February 2017
Americans willing to wait it out
Figure 106: Election attitudes, November 2016-February 2017

APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Fan chart forecast
Consumer survey data
Abbreviations
A note on socioeconomic levels

APPENDIX – DEMOGRAPHIC TABLES
Figure 107: US population and households, by region, 2015
Figure 108: US population, by generation, 2012-22
Figure 109: Distribution of population, by age and race/Hispanic origin, 2016
Figure 110: Refugee arrivals: Fiscal Years 1990-2015
Figure 111: Annual births and fertility rate, 2005-15
Figure 112: Family and nonfamily households as a percentage of total households, 2006-16

APPENDIX – ECONOMIC TABLES
Figure 113: GDP change from previous period, Q1 2007-Q4 2016
Figure 114: Consumer Sentiment Index, January 2007-February 2017
Figure 115: US gasoline and diesel retail prices (dollars per gallon), January 2007-March 2017
Figure 116: Unemployment and underemployment, January 2007-February 2017
Figure 117: Disposable Personal Income change from previous period, January 2007-February 2016

APPENDIX – CATEGORY EXPENDITURES TABLES
Figure 118: Total US market value and forecast of Alcoholic Drinks (in home), at current prices, 2011-21
Figure 119: Total market value and forecast of Alcoholic Drinks (in home), at inflation-adjusted prices, 2011-21
Figure 120: Total US market value and forecast of Alcoholic Drinks (out of home), at current prices, 2011-21
Figure 121: Total US market value and forecast of Alcoholic Drinks (out of home), at inflation-adjusted prices, 2011-21
Figure 122: Total US market value and forecast of Beauty and Personal Care, at current prices, 2011-21
Figure 123: Total US market value and forecast of Beauty and Personal Care, at inflation-adjusted prices, 2011-21
Figure 124: Total US market value and forecast of Clothing and Accessories, at current prices, 2011-21
Figure 125: Total US market value and forecast of Clothing and Accessories, at inflation-adjusted prices, 2011-21
Figure 126: Total US market value and forecast for Foodservice (Eating Out and Takeaways), at current prices, 2011-21
Figure 127: Total US market value and forecast for Foodservice (Eating Out and Takeaways), at inflation-adjusted prices, 2011-21
Figure 128: Total US market value and forecast of Health and Vision, at current prices, 2011-21
Figure 129: Total US market value and forecast of Health and Vision, at inflation-adjusted prices, 2011-21
Figure 130: Total US market value and forecast of Home and Garden, at current prices, 2011-21
Figure 131: Total US market value and forecast of Home and Garden, at inflation-adjusted prices, 2011-21
Figure 132: Total US market value and forecast of Household Care, at current prices, 2011-21
Figure 133: Total US market value and forecast of Household Care, at inflation-adjusted prices, 2011-21
Figure 134: Total US market value and forecast of Housing, at current prices, 2011-21
Figure 135: Total US market value and forecast of Housing, at inflation-adjusted prices, 2011-21
Figure 136: Total US market value and forecast of In-home Food, at current prices, 2011-21
Figure 137: Total US market value and forecast of In-home Food, at inflation-adjusted prices, 2011-21
Figure 138: Total US market value and forecast of Recreation & Leisure (Leisure and Entertainment), at current prices, 2011-21
Figure 139: Total US market value and forecast of Recreation & Leisure (Leisure and Entertainment), at inflation-adjusted prices, 2011-21
Figure 140: Total US market value and forecast of Miscellaneous Expenditure, at current prices, 2011-21
Figure 141: Total US market value and forecast of Miscellaneous Expenditure, at inflation-adjusted prices, 2011-21
Figure 142: Total US market value and forecast of Non-alcoholic Drinks, at current prices, 2011-21
Figure 143: Total US market value and forecast of Non-alcoholic Drinks, at inflation-adjusted prices, 2011-21
Figure 144: Total US market value and forecast of OTC and Pharmaceuticals, at current prices, 2011-21
Figure 145: Total US market value and forecast of OTC and Pharmaceuticals, at inflation-adjusted prices, 2011-21
Figure 146: Total US market value and forecast of Personal Finance, at current prices, 2011-21
Figure 147: Total US market value and forecast of Personal Finance, at inflation-adjusted prices, 2011-21
Figure 148: Total US market value and forecast of Technology and Communications, at current prices, 2011-21
Figure 149: Total US market value and forecast of Technology and Communications, at inflation-adjusted prices, 2011-21
Figure 150: Total US market value and forecast of Transport, at current prices, 2011-21
Figure 151: Total US market value and forecast of Transport, at inflation-adjusted prices, 2011-21
Figure 152: Total US market value and forecast of Vacations and Tourism, at current prices, 2011-21
Figure 153: Total US market value and forecast of Vacations and Tourism, at inflation-adjusted prices, 2011-21
Figure 154: Total US market value and forecast of Total Market, at current prices, 2011-21
Figure 155: Total US market value and forecast of Total Market, at inflation-adjusted prices, 2011-21

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