emerging
The “Good Enough” Life
Consumers are redefining success, prioritizing well-being and personal fulfillment over traditional milestones due to unattainable living standards.
Timeframe
near-term
Categories
Subcategories
Impact areas
Detailed Analysis
Faced with rising costs and stagnant wages, younger generations are reevaluating their priorities. Traditional markers of adulthood, like homeownership and family, are becoming increasingly out of reach, leading to a shift in focus towards personal well-being and financial independence on their own terms. As the report states, "As technology advances, quality of living is not keeping pace, with many millions resigned to having less than previous generations; the paths to progress that served their parents no longer available to them." This sentiment is driving a search for alternative definitions of success, as exemplified by the growing popularity of Avram Alpert's book, "The Good Enough Life."
Context Signals
67% of young people prioritize work-life balance in career choices.
45% of US Millennials are freelancers.
Rise of the 'passion economy'
45% of US Millennials are freelancers.
Rise of the 'passion economy'
Edge
Brands can capitalize on this trend by offering products and services that enhance simple pleasures and promote work-life balance.
The 'good enough' mindset could lead to a surge in demand for sustainable and reusable products, further driving the circular economy.
This trend could reshape urban planning and housing development, with a focus on smaller, more affordable living spaces.
The 'good enough' mindset could lead to a surge in demand for sustainable and reusable products, further driving the circular economy.
This trend could reshape urban planning and housing development, with a focus on smaller, more affordable living spaces.
