According to the Selig Center for Economic Growth:
The buying power of Hispanics is expected to exceed $860 billion in 2007 and to exceed more than $1.2 trillion in 2012
African American buying power is expected to total $845 billion in 2007 and is projected to top $1.1 trillion by 2012
Asian buying power is expected to total $459 billion in 2007 and increase to $670 billion by 2012.
Native American buying power is expected to total $57 billion in 2007 and increase to $77 billion in 2012
Important Facts about Disabled Consumers
According to Disability-Marketing.com
Of the 54 million of people limited in their activities due to long-term disability...
• 73% are the heads of households
• 46% are married
• 58% own their own homes
• 77% have no children
• 48% are principal shoppers
In 1995, people with disabilities spent $81.7 billion on travel. This did not include the significant expenditures of their families, friends, and escorts. (Source: Society for Accessible Travel and Hospitality).
The aggregate income of people with disabilities tops $1 trillion. This includes $220 billion in discretionary income. *
Click here for more facts about the disabled consumer.
GLBT Purchasing Power According to research by Witeck-Combs Communication/Marketresearch.com and a study by Witeck-Combs Communications and Harris Interactive:
GLBT buying power is estimated to be $723 Billion in 2008
78% of gay and lesbian adults and 77% of heterosexuals are likely to consider a brand that is known to provide equal workplace benefits for all of their employees, including gays and lesbians. It's also important to note that one in four gay, lesbian, bisexual and transgender adults say they have switched products or service providers because they found a competing company that supports causes that benefit the GLBT community.
Established in 1969 and headquartered in Washington, DC, the Minority Business Development Agency (MBDA) is part of the U.S. Department of Commerce. MBDA is the only federal agency created specifically to foster the establishment and growth of minority-owned businesses in this Nation. The Agency actively promotes the strategic growth and competitiveness of large, medium and small minority business enterprises by offering management and technical assistance through a network of approximately 50 local business centers throughout the United States. Helpful business resources for minority entrepreneurs are available at www.mbda.gov.
Click here for important downloads concerning characteristics of minority businesses.
Minorities and the Internet
According to a 2007 article on Webpronews.com and a new report from The Media Audit surveying 88 markets with an aggregate adult population of approximately 145 million with 58 million of those adults being a minority:
Online shopping by African-Americans, Asians, Hispanics and other minorities has increased significantly over the past five years
40.6% of African-Americans now shop online, compared to 27.1 percent five years ago. More than 20 percent now make five or more purchases in a year and 10.9 percent make more than a dozen purchases. The total adult African-American population in the 88 markets surveyed is approximately 17.6 million.
70% of Asians now shop online, up from 27.1 percent five years ago. More than 20 percent now make five or more purchases in a year and 10.9 percent make more than twelve purchase. The total adult Asian population in 88 markets is estimated to be 9.8 million.
41.8% of Hispanics now shop online, compared to 27.7 percent five years ago. In addition, 23.5 percent of Hispanics make five or more purchases in a year and 12.3 percent make 12 or more purchases. The total adult Hispanic population in the markets surveyed is about 23.3 million.
7951 Monument Lane Suite 101
Raleigh, North Carolina 27615
Mailing Address
Post Office Box 61118
Raleigh, North Carolina 27661
info@minoritymarketshare.com
•
(888) 689-8896
• Fax
(919) 573-9584
Copyright 2008 NODSM. All rights reserved
