To understand some top emerging cultural, consumer, and economic trends that would influence the next two years.
- According to research published by Deloitte Insights, contrary to what has now been accepted as conventional wisdom, consumers have not experienced any fundamental rewiring. Instead, "the modern consumer is a construct of growing economic pressure and increasing competitive options".
- Millennials are currently the most diverse generational group in United States history. This cohort now represents 30% of the US population, with nearly 44% consisting of racial and ethnic minorities.
- The changing racial and ethnic makeup of the United States is accompanied with a consumer base that is becoming more diverse.
- The net worth of consumers who are under 35 years is decreasing. This is impacting this group's ability to make milestone life purchases.
- As the global economy slows, the US Federal Reserve is holding off on increasing rates any further through 2021.
- Due to the Federal Reserve's decision, "the cost of loans for everything from furniture to automobiles to mortgages has stabilized". Also, people who save are now earning more interest on their deposits than they earned during the recession.
- In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
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