The primary conflict structuring the two parties involves questions of national identity, race, and morality, while the traditional conflict over economics, though still important, is less divisive now than it used to be. This has the potential to reshape the party coalitions.
By making questions of national identity more salient, Donald Trump succeeded in winning over ”populists" (socially conservative, economically liberal voters) who had previously voted for Democrats.
To the extent that the Democratic Party is divided, these divisions are more about faith in the political system and general disaffection than they are about issue positions.
In both parties, the donor class is both more conservative on economic issues and more liberal on social issues, as compared to the rest of the party
Democrats may be pressured to move further left on identity issues, given that both younger voters and the party's donor class are quite far to the left on identity issues. If so, American politics would become further polarized along questions of culture and identity.