retail news in context, analysis with attitude

Fast Company has a story about a new LinkedIn report saying that "the American Dream is still out of reach for many. The U.S. ranks 8th (out of 22 countries) in respondents’ confidence in their ability to access the economic opportunities they want, behind India (No. 1), Indonesia (No. 2), China (No. 3), and Mexico (No. 6)."

The story says that while Americans believe that they live in a land of opportunity, many are less sanguine about their ability to take advantage of those opportunities.

According to the story, "More than one in four (26%) U.S. respondents said that financial status was a leading barrier to opportunity. Financial constraints like student loans - cited as a barrier by 30% of respondents - make it difficult to take a chance on a new job that may offer more upward mobility or move to a new area in search of opportunity. Forty percent of Gen Z workers say their financial status is an almost insurmountable barrier to opportunity. Slightly more baby boomers - 42% - possibly facing down the prospect of retirement on limited savings say the same."

KC's View:

For the purposes of this discussion, it is important to remember that these people who feel the American dream is out of touch also are customers … and the financial constraints that influence their thinking also may limit the degree to which they can engage in aspirational food shopping.

This won't mean they will suffer from a lack of aspiration.  They may just be looking for less expensive ways to indulge it … and there will be smart retailers out there who will figure out how to meet that desire.