What you need to know
Mintel’s 2016 Consumer Trend, Balance or Bust describes consumers’ efforts to achieve balance in a world that offers seemingly unlimited choices. Instead of acting in moderation, people are finding a middle ground by vacillating between extremes.
As a strengthening economy improves individuals’ financial situations, they face myriad choices in how to spend their money. Some consumers continue with the financial prudence they adopted during the recession, while others spend more freely – enjoying their discretionary funds by spending in experiential categories such as dining and entertainment. However, most Americans are doing both – balancing their financial responsibilities by paying down debt and saving, while still setting aside funds to treat themselves when they can.
Definition
This Report provides a comprehensive overview of Americans’ total spending including 18 consumer markets. A demographic profile of Americans and future projections, as well as an examination of the economic conditions and issues impacting Americans are also included. An in-depth analysis of Americans’ purchasing priorities and how they seek to find balance, financial and otherwise, is also evaluated.
This Report builds on the analysis presented in Mintel’s American Lifestyles 2015: The Connected Consumer – Seeking Validation from the Online Collective – US, April 2015, as well as the 2014, 2013, 2012, 2011, 2010, 2009, 2008, and 2007 Reports of the same title. The Report also includes findings from more than 100 published Mintel Reports across 18 consumer markets: food (at home); dining out; alcoholic drinks (at home); alcoholic drinks (out of home); non-alcoholic drinks (in home); beauty and personal care; OTCs and pharmaceuticals; household care; clothing, footwear, and accessories; technology and communications; vacations and tourism; leisure and entertainment; home and garden; transportation; personal finance; housing; healthcare; and miscellaneous.
Each of the 18 market sections of this Report (as noted above) contain a listing of the components that make up expenditures unique to that category. Complete data tables are available in the Appendix – Category Expenditures Tables.
