Signal5 Feb 2024
Young Americans drive growth of the ‘Introvert Economy’

Opting for nights in, experimenting with sober lifestyles, and adopting a holistic approach to wellness, the US is shifting to what's being called an 'Introvert Economy'. It promises a boom for athleisure and wellness brands but presents a challenge for those relying on vibrant nightlife.

With some behaviors persisting from the pandemic, the cost of living crisis limiting people’s ability to go out, and younger generations opting for a more balanced approach to wellness, the US is facing what some are calling the 'Introvert Economy'. Resy research has shown the popularity of 5:30 pm reservations rising in New York as the number of people opting for 8:00 pm tables falls, and data from the US Bureau of Labour Statistics supports this – finding that people are spending less time socializing on weekends. Meanwhile, 41% of people are trying to reduce their alcohol intake in 2024, and Americans are spending more time alone than they have for the past 20 years.

The effects of the pandemic are clear, but Bryce Ward, an economist from the University of Montana, points to 2014 as an inflection point – the year marked the first time more than 50% of people in the US owned a smartphone and the beginning of a downturn in time spent with friends. Since then, remote work has made it difficult for Gen Z to interact with colleagues, and 48% of Zers and Yers spend more time interacting with people on social media than in real life. Even the bastions of nightlife may have to update their offerings for more introverted consumers. For example, White Claw has come full circle, taking the alcohol out of the seltzers it became famous for adding alcohol to.

Young Americans drive growth of the ‘Introvert Economy’