DEMOGRAPHICS
The American population may not be a minority-majority — in which the combined Black, Asian, and Hispanic population outnumbers the White population — until 2050 rather than in 2042 as the U.S. Census Bureau had previously predicted. Immigration from Mexico to the U.S. has slowed due to the recession, meaning the Hispanic population will not grow as rapidly as expected.
Population
The Hispanic population continues to have the highest birth rate, followed by Asians. The proportion of Americans under age 18 who are Hispanic and Asian is rising. The proportion that is White is also growing slightly. Conversely, the proportion of the under-18 population that is Black is decreasing.
The Hispanic and Asian populations are spreading out across the U.S. The numbers of Hispanics and Asians living in Chicago and Washington, D.C., are growing rapidly.
Not only is the racial structure of the American population changing — so is the family structure. More Americans are remaining single for longer, and as a result, there are more single-person households than ever before.
Family households are also changing. Millennials are less likely than previous generations to grow up in two-parent households. More than a third say their parents are divorced, separated, or were never married.
The recession has also made its mark on household composition — many Millennials moved back in with parents due to financial or career difficulties.
Youth
American youth have not changed much fundamentally in the past few years: they are still multicultural, tech savvy, engaged with causes, and always seeking entertainment. However, much like their parents, money weighs on their minds. Parents are using allowances and chores as a way to teach their children about budgeting and finances.
Despite their worries, young people remain optimistic, and expect to see and accomplish great things in their lifetimes.
Millennial children tend to have liberal viewpoints and are accepting of people’s differences. Emerging majority children feel that their racial/ethnic heritage defines them as a person. Most kids say they make friends easily. Still, they believe that good looks are the key to popularity.
Playing with friends is still children’s favorite leisure activity, but for this generation of children, that likely includes playing videogames. Most children consider themselves “gamers,” and most teens have a gaming console. Driving and puzzle games are their favorite genres. Children’s interest in gaming spikes around age nine, and they begin to spend their money on games instead of toys.
Boomers +
The oldest Baby Boomers are becoming senior citizens, turning 65 in 2011. Older Americans do not consider themselves as entering the final years of their lives as they age; rather they think they have much to look forward to. Baby Boomers are not like the older Americans who have gone before them — they are more physically active, even as they enter retirement.
Boomers are more likely than younger Americans to take a negative view of the economy following the recession. They are more likely than average to say they are cutting spending, trading down, and buying in bulk. They seek deals when they shop. They go to the store with a list, but can be swayed by low prices to buy non-list items or switch brands. Despite their frugal attitudes, Boomers are more likely to be concerned about their jobs and their health than about personal finances.
Baby Boomers’ lives are in transition; younger Boomers have had a change in their career or financial situation during the past year, whereas older Boomers are becoming grandparents and leaving their careers to set up retirement households.
Older Americans’ favorite activities are entertaining and visiting friends and engaging in leisure activities. They also enjoy traveling and find that they have more free time now that they spend less time dealing with household chores.
Boomers are having less sex than they did a decade ago, but half of older adults say that an active sex life is important to them and to a good relationship.
Affluence
Affluent Americans are middle aged, well educated, and predominantly White. Demographic differences affect affluent households’ activities — those with children are more likely than those without kids to attend sports events, go to movies, and visit theme parks; those without children are more likely to attend estate sales, art auctions, and gallery exhibits. Affluent households with children also own more electronic devices.
Although affluent households are more likely to be older, they are well versed with technology. They are online for more than three hours in a typical day, and are more likely than average to own tablet computers, e-readers, and smartphones.
Affluent Americans are avid online shoppers. The vast majority go online to compare prices and brands, find retailers, and read product reviews. They are most likely to book travel, buy tickets, and purchase books online.
Younger affluent households spend more time online per week than their older counterparts and visit more websites. Older affluent households spend more time reading and watching TV than younger affluent households.
The recession has made a permanent mark on affluent Americans just as it has with less wealthy Americans. A majority of affluent households believe that the recession continued throughout 2010, a year in which more than a third affluent households spent less on luxury goods, and most expected to would spend less and save more overall. Most affluent households reported losing money in savings or investments.
FAMILY & PERSONAL LIFE
Tough times take a negative toll on the American spirit, and most believe the economy is still in recession as of 2010. Fewer than half of Americans think they can achieve the American Dream, with Whites more optimistic than Blacks and Hispanics about doing so. Nearly half of Americans no longer believe it is possible to work hard and get rich. Most also believe that the country is declining as a world power.
Some American sentiments have not changed; they still like big cars, big homes, and big meals. Americans are taking control of their personal wellbeing, reevaluating their jobs, health, and financial standings.
Family
Parents spend a few hours a day with their children, but most wish they could spend more time with them. Most parents play with and praise their children a few times a day, but as their children get older, they do so less often.
When it comes time for discipline, parents most commonly talk to their children about what they did wrong. They are slightly more likely to tell kids they cannot go outside than that they cannot watch TV.
Many parents feel guilty that their children watch TV or DVDs because they are too busy to play with their kids. Parents have a significant influence over their children’s media preferences — most daughters like the same TV and movies as their mothers, and the same goes for sons and fathers. Parents and kids have similar tastes in music, but to a lesser degree.
Most families eat together several times a week, and most meals are home cooked. Nearly half of families have the TV on during mealtime, and many say they are also interrupted by phone calls, texting, or other distractions.
Most new moms faced with finding childcare when they go back to work turn to family members. Parents with lower incomes also rely on family members to look after their children, whereas those with higher incomes use daycare centers and in-home care facilities.
Finance
Americans have turned over a new leaf when it comes to finances in the wake of the recession. They are moving their money to smaller banks as they take a stand against national banks’ policies and fees. They are reigning in debt and increasing their savings. They are turning to social networks and financial blogs for advice on investments. Investors have a more favorable view of putting money in mutual funds or savings accounts than they do of buying stocks or real estate.
Workers approaching retirement age are nervous about outliving their money, driving many to consider working longer. Men and lower-income Americans are most confident about being able to maintain their standard of living throughout their retirement years.
Emerging majorities were hit hard during the recession, but they are optimistic about their financial futures. Their collective buying power continues to grow.
Hispanics most commonly turn to family, friends, or books for advice about money, with few saying they talk to a financial planner. Spanish-dominant Hispanics are more likely than English-dominant Hispanics to feel uninformed about how to save and invest money for the future.
Blacks are making a greater effort to save money for their retirement, but some have been hindered by job loss or giving or loaning money to a family member. Blacks are more likely than Whites to say they save or invest money to prepare for a future emergency or to send their children to college. Whites are more likely than Blacks to save or invest for their retirement. Fewer Blacks are investing in the stock market than in recent years, and among those who do, they are investing significantly less.
Work
High rates of unemployment continued into 2010, with four in 10 unemployed workers being out of a job for half a year or longer.
Despite the bleak economy, most workers who were laid off in 2009 were able to find new full-time jobs in 2010, with most making the same or more money as at their previous job. The number of workers who searched for a new job online surpassed the number who searched newspaper classifieds.
It is no surprise that the employed feel less secure in their jobs than they have in the past. Many have taken on additional tasks to compensate for layoffs, which is affecting their sense of work/life balance. The number of workers who appreciate their jobs has fallen, and employee morale is low. More than half would consider changing careers if the opportunity were to arise.
Travel & Leisure
Those who fly for travel or business have a variety of complaints about the experience — from anger over baggage fees to annoyance at security measures — but they still get on board, and spending on travel rebounded in 2010.
Americans scrimped and saved to be able to afford a family vacation, a luxury many did not manage the year before. One way they found deals on vacations was by booking last-minute flights.
Most travelers planned to visit somewhere new; urban vacations were most popular, followed by beach trips. When it comes to booking, most do so online. Americans are most trusting of vacation recommendations from friends and families, and they are nearly equally trusting of travel agents, online travel agencies, and online trip advisory sites.
Americans have slightly more free time than in previous years, which many filled with TV shows and sleeping. Watching TV is Americans’ most common leisure activity, so much so that when their favorite shows go on summer hiatus, they fill the time they spend watching those shows with summer shows or reruns.
But Americans are also physically active. A third exercise regularly, and most keep busy with events and hobbies, such as gardening, volunteer work, and photography. Most Americans read during their leisure time, a hobby that has seen a resurgence thanks to the popularity of e-reader devices. Those who have e-readers use them frequently and read and buy a greater number of books per year than those who do not own an e-reader.
Health & Wellness
Most adults have seen a doctor or dentist in the prior year, whereas few saw an eye doctor. Their insurance plans play a part in Americans’ likelihood to see doctors. Many Americans would also consider “medical tourism” — going to a foreign country to have a procedure that is not covered by their insurance provider — to save money on treatment.
Americans are taking a proactive approach to their health by taking vitamins, quitting smoking, and learning about health risks online and from TV news programs. For non-major health issues, they prefer consulting a website rather than friends or family because they are not comfortable sharing personal health details with others.
The vast majority of adults experience stress related to work or financial issues. They also worry about their health and that of their families. Compared to previous years when the economy was mired in recession, more Americans feel that they are thriving rather than struggling, which suggests they are optimistic about the future. Having money, a life partner, and an extroverted personality all contribute to one’s personal sense of happiness.
Sports & Fitness
Football continues to pull away from the pack as Americans’ favorite sport as fewer claim basketball or baseball to be tops. Football wins among young adults and Blacks; Hispanics are more evenly split as baseball and football fans.
Whatever their favorite, most Americans follow sports. They are nearly as likely to primarily keep up with sports news and scores online as they are to watch on TV.
Fantasy sports and sports-related videogames allow fans an additional level of engagement. Those who play sports videogames are more likely than average to describe themselves as avid fans of the same sport they play on their console. Fantasy sports players pay close attention to stats and scores, with nearly half getting such information from their mobile device.
© Copyright 2011, EPM Communications, Inc. May not be reproduced without written consent of publisher.