DEMOGRAPHICS AND MARKETING

Information based on
The Multicultural Economy 2004

The Selig Center for Economic Growth, University of Georgia, July 2004

PROJECTED TOTAL BUYING POWER

 

2004

2009

Absolute Increase

Percent Increase

Total Pop.

$8.6 trillion

$11.1 trillion

$2.5 trillion

29 percent

White

$7.1 trillion

$8.9 trillion

$1.8 trillion

26.7 percent

PROJECTED COMBINED BUYING POWER OF AFRICAN AMERICANS,
ASIAN AMERICANS, HISPANICS, AND AMERICAN INDIAN*

2004

2009

Absolute Increase

Percent Increase

$1.8 trillion

$2.5 trillion

$700 billion

40 percent


*The percentage increase in minority buying power will exceed that of both the population at large as well as that of white buying power over this period


PROJECTED MINORITY BUYING POWER

 

2004

2009

Absolute Increase

% increase

African American

$723 billion

$965 billion

$242 billion

33.4 percent

Asian American

$363.2 billion

$528.2 billion

$165

45.4 percent

Hispanic*

$686.3 billion

$992.3 billion

$206.8

44.6 percent

American Indian

$47.7 billion

$65.6 billion

$17.9

37.5 percent


*Hispanic refers to a person of Mexican, Puerto Rican, Cuban, Central or other Spanish/Hispanic/Latino culture or origin, and is considered an ethnic category, rather than a racial group. Persons of Hispanic origin therefore may be of any race. The Multicultural Economy. Selig Center for Economic Growth, University of Georgia , p.10.


CHANGES IN SHARE OF TOTAL BUYING POWER

 

2004

2009

Percent Increase

WHITE

82.3 percent

81 percent

3.6 percent

AFRICAN AMERICAN

8.4 percent

8.7 percent

3.6 percent

ASIAN AMERICAN

4.2 percent

4.8 percent

14 percent

HISPANIC

8.0 percent

9.0 percent

12.5 percent

AMERICAN INDIAN

.6 percent

.6 percent

0 percent


GAY, LESBIAN, TRANSGENDER BUYING POWER

A new report from Witeck-Combs Communications and Packaged Facts, a unit of New York-based MarketResearch.com, sheds some light on the formidable buying power of adult GLBT consumers in the United States. According to the report, "The Gay & Lesbian Market: New Trends, New Opportunities," buying power for the GLBT market in 2002 is estimated at $451 billion and projected to reach $608 billion by 2007, a cumulative increase of more than 34 percent from 2002 figures.

Issues in Multicultural Marketing | Home