American spending, top consumer markets and the middle class in 2017 are at the center of Mintel’s latest research.
The company has analyzed how, where and why consumers spend money and found out the following:
- 49% of Americans consider themselves middle class, but only 32% say they are satisfied with their personal financial situation
- US consumer expenditures increased 3.3% in 2016; Mintel estimates that Americans’ spending will increase 18% by 2021
When it comes to the beauty market, Mintel found…
- Sales of home hair color products have declined by .5% due somewhat to the trend of embracing natural hair color
- There has also been a decline in the at-home market, down 17% from 2015’s 18%, which Mintel attributes to consumers going longer between dyes or skipping it altogether
For more information on Mintel's research, please visit: www.mintel.com