The Future: More Multicultural Families, More Low-Income Consumers, and Less Children

According to TargetMarketNews.com and Nielsen Media Research, here's what we can look forward to regarding American consumers:

1) More Multicultural Families.

While households with children will continue to decline, ethnic (non-white) families are expected to grow at a faster rate than the total population. According to Nielsen, more than half of families with children are expected to be multi-cultural by 2025. By 2050, that number is anticipated to be greater than 60 percent.

2) More Low-Income Consumers

According to Nielsen, household incomes are expected to stagnate or fall slightly over the next ten years. Based on these projections, household spending will grow at a very slow pace-especially when compared to the previous ten years. Nielsen data show the lowest income population segments growing the fastest (as much as 17.8 percent in some scenarios), with affluent and wealthy segments declining (9.2 percent and 5.5 percent respectively).

3) Less Families With Children

Nielsen projections indicate a continued decline of households with children and fewer children per household. By 2036, households with children will outnumber those 65 and older without children by just 5 million, compared to a 17 million difference in 2007.

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