IDEX Online Research: America – Still A Growing Market
April 18, 12
(IDEX Online News) – The birth rate may have slowed slightly in the Great Recession, but the iGeneration – those born since 1995 – continues to expand, based on new data from the Census Bureau.
Annual births peaked in 2007 at just over 4.3 million for the year. However, they fell significantly to 4.0 million in 2010, a 7% decline from the peak in 2007. The following table shows the recent decline in the birth rate in the
 Source: US Census Bureau |
Most analysts suggest that the Great Recession had a lot to do with the reduced birth rate: couples were reluctant to either start a family or add to their existing families in an uncertain economy with a high unemployment rate.
iGeneration Continues To Grow
Despite the slowing birth rate over the past three years, the iGeneration – those Americans born in 1995 and later – has continued to expand. The iGeneration now accounts for just over 21% of the total
The table below summarizes the key generations in the American market.
 Source: US Census Bureau |
This is good news for jewelers: there are ample members of the iGeneration coming along to purchase jewelry for many, many years.
American Population: Solid Long Term Growth
According to the U.S. Census Bureau, the American population is expected to grow from its current level of 311 million in 2011 to about 423 million people in 2050. It will remain the third most populous country in the world through at least 2050, based on birth rate projections.
When will the next generation occur? First, the iGeneration must end. It is already larger than the Gen-X generation, and it is only slightly smaller than either the Baby Boomers or the Millennials. We’d guess that the iGeneration has only a few more years to run. Typically, there is a defining event when ends one generation and announces the beginning of the next generation. However, it can take years for that “defining event” to be recognized. For Boomers, it was the end of World War II. For the other generations, it was less evident, and it is still subject to some debate. However, twenty years – or 70-75 million births – is about the length of the typical American generation.