A recent Pew Research study found that a record 57 million Americans – over 18% of the U.S. population – live in multigenerational households. In fact, nearly one fourth of adults between the ages of 25 and 34 do so, and 37% are comprised of racial and ethnic minorities.

Multigenerational households are a prime example of two major trends in the U.S. consumer marketplace – the differing lifestage trajectories of Millennials and the steady growth of the multicultural population. As the Great Recession sent young adults back to their parents, decisions about marriage, employment and starting a family were put on hold. The end result is a generation with markedly different attitudes toward traditional lifestage events and an evolving, more expansive definition of family. Meanwhile, the growing multicultural U.S. population has continued to drive the long-term shift in multigenerational households since the 1980s, as this type of living arrangement is more commonplace among multicultural consumers. The confluence of these trends requires a different approach for marketers seeking to connect with today’s consumers. New households mean new needs, new desires and new values – all of which are likely to grow in importance as the nation moves toward a majority-minority population.

Published by dkachiros

My purpose is simple – to identify the authentic potential in brands, discover their beautiful truth and inspire them to tap into their purpose or their raison d'être (reason for being). This is a brand’s beautiful truth. Establishing that truth opens the door for fresh approaches and ideas that are unmistakably true to brand, yet breakthrough for consumers – suited for building businesses. It’s all about shattering category conventions, finding permission for new territory and ultimately building relevance and more meaningful experiences at every moment along the journey. I pride myself on getting people to fall in love with the brand, be it for the very first time and or all over again. Feel free to reach out to me if I can help in any way. Dixie Kachiros 214-596-8468

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