business news in context, analysis with attitude

The Wall Street Journal this morning spotlights data from the US Census Bureau that points to the "changing composition of US families."

According to the story, "Americans in same-sex marriages and partnerships account for about 1% of households … Same-sex married couples made up 0.5% of the nation’s nearly 127 million households in 2020, five years after the Supreme Court legalized such unions nationwide. Same-sex unmarried partners made up 0.4%."

The Journal goes on:  "Opposite-sex married couples made up 46% and opposite-sex unmarried partners made up 7%. About 28% of households were occupied by someone living alone, up from about 27% in 2010. Most of the remaining 19% lived with relatives in a variety of household types. The share of opposite-sex married couples dropped 2 percentage points from 2010, while other types grew slightly."

KC's View:

Since "US families" and "American households" sort of describes precisely the folks to whom retailers need to cater, this evolution matters.

These shifts are only going to gain momentum in coming years, I would guess.  As Abraham Lincoln once said, " I am a slow walker, but I never walk backwards."