The diversity of US Generation Alpha

The youngest generation of Americans are historically diverse, and the demographics of future workers and consumers will be critical to marketing.

Why it matters

Market research firm Claritas’ report into the US Asian consumer, published on Advertising Week, puts the opportunity in starkly economic terms, especially about the demographic that is the study’s focus: “Median Asian HH [household] income is $103,903, around 41% above the median HH income.”

The story is bigger

But it’s not a simple growth story – Asian American millennials and Gen Z appear to be having fewer children than their parents did, possibly reflecting greater affluence as more and more households have dual income streams.

The more impressive chart (pictured above), however, is the diversity of the US’s Generation Alpha – those born since 2013 to the present – which according to these estimates will be more diverse than any population recorded previously.

Avoiding the homogeneity of diversity

That sounds like an oxymoron, but marketing (and business in general) tends to gather big ideas into generalisations like diversity. The report is worth reading because of the detail: people’s cultures of origin matter. There is no single minority American experience.

Sourced from Advertising Week