The changing American consumer landscape is forcing companies to adjust even their most fundamental assumptions about how they do business, according to Nielsen.
Credit unions must adapt, Nielsen says, to these four consumer trends:
1. Connected, but distracted. Consumers are more connected than ever, but their attention is often divided. For example, 85% of U.S. consumers use a mobile device while watching television.
2. Multicultural. More people identify as coming from a multicultural background. According to U.S. Census projections, multicultural citizens will be the majority by 2044.
3. Diverse households. The traditional family unit is becoming rarer. Women serve as the breadwinner more often than in the past, LGBT families are on the rise, and nearly half of all homes are multigenerational.
4. Health matters. U.S. consumers care more about their health and wellness than ever before. Produce and health-and wellness-oriented food items are experiencing strong growth in sales.
“The challenge to marketers now is to ask themselves whether their organizations are ready to reflect this change,” says Monica Gil, Nielsen’s senior vice president/general manager, multicultural growth and strategy.