The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you consent to the use of cookies. 

The Impact of Demographic Trends on US Consumer Spending: Incorporating the Effect of Race/Ethnicity

January 2018 | Research Report

The US is in the midst of several large but slow-moving demographic shifts that will alter the business landscape. In particular, population growth over the next decade is likely to vary dramatically by age, race/ethnicity, and geography, with the fastest growth coming from the oldest consumers, from minority groups, and in the West and South of the US. Since the amount and type of consumer spending varies greatly across these same groups, these shifts will create differences in spending growth across products and regions. In this report, we provide a perspective on how these shifts will play out and what they mean for business leaders.



Gad Levanon, PhD

Vice President, Labor Markets
The Conference Board


Brian Anderson

Associate Program Director
The Demand Institute


Ben Cheng

Senior Methodologist, Data Analytics
The Conference Board

Steemers Frank - bio picture_25april2019_website.jpg

Frank Steemers

Senior Economist
The Conference Board



Support Our Work

Support our nonpartisan, nonprofit research and insights which help leaders address societal challenges.