Collage Group: “The American dream is still attainable”
A new study indicates that multicultural Americans are optimistic.
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According to a recently released annual report, 78% of black, Asian and Hispanic American consumers say they have achieved or believe they can achieve the American dream, compared to 69% of white consumers.
“America Now 2022: Harnessing American Identity to Navigate Social Issues,” is the name of this study produced by the cultural intelligence company Collage Group.
Jack Mackinnon, Senior Director of Cultural Insights at Collage Group, stated:
Both Hispanic and Black Americans are more confident about their futures in comparison to other American segments, and this conviction translates to their faith in pursuing and achieving the American Dream.
Among the results found in the report, the following stand out:
- 25% of Asian consumers and 21% of Hispanic consumers said they have already achieved the American Dream.
- 60% of Hispanic Americans and 59% of African Americans responded that although they have not yet achieved the American Dream, they are confident that they can still achieve it.
- 12% of white Americans responded that they could no longer achieve the American Dream.
- 75% of respondents across all ethnic groups said they are proud to be Americans.
- Boomers are the proudest, with 88% saying they are proud of their country.
- The majority of Americans (65%) said they believe the United States is the best country in the world.
- The United States is the best country for 68% of Generation X, as well as 59% of Millennials, but for Generation Z only 36%.
“We also allowed people to select what they think constitutes the American Dream and notably, most Americans define the Dream in practical terms, like owning a home, being able to retire, freedom to live how they want, and a stable family life,” added Mackinnon.
- 80% of African-American consumers said that gun violence is a serious or very serious problem.
- 77% of Asian consumers and 75% of Hispanics are also concerned about this type of violence.
- Black and Hispanic consumers are also concerned about racism, with 77% and 68% respectively considering it very serious.
- 65% of Gen Z say that racism is a serious problem for them.
- 20% of each demographic group said the American dream was never attainable, no matter how hard they worked to realize it.
“While Hispanic, Black, and Gen Z Americans are those most likely to say, ‘we want to see brands engaging in a set of topics we care about,’ – such as racism or climate change – we also see these demographics are engaged and positive about the American Dream in surprising, if not counter-intuitive ways,” noted David Evans, Chief Insights Officer at Collage Group.
Evans concluded stressing: “Brands must focus on insights pertaining to America, as well as the issues Americans care about and where they show concern.”
Small business owners describe themselves as being innovative, driven, and community-oriented. As an action step, we recommend your brand focus on these attributes for best communication with different segments. Learn more: https://t.co/Z2UM8URMY8 pic.twitter.com/SoN2ypH6Mi— Collage Group (@collage_group) November 1, 2022