Week Four - Tuesday September 16th

Multicultural Consumers

Market Segments:

African American

Hispanic 

Asian American

 

Demographics by Minority:

Population
White - 208 Million
African American - 40 Million
Hispanic - 45.5 Million
Asian- 15.5 Million

Buying Power
White - 7 trillion
African American - 957 billion
Hispanic - 1 trillion
Asian- 54.4 billion

Average Income
White -52,000
African American -34,000
Hispanic -38,000
Asian-66,000

Growth Potential

 

African Americans

African American women make apparel and accessories their single most important expenditure after food and shelter. 38% love to shop - this is higher than white or hispanic counterparts.

Interested in beauty products addressed to their needs.

Essence reported that price is not and issue, 64% willing to pay more for quality.

African American Men are spending more on designer labels and are a strong market for leather. Teens buy more jeans than other groups.

Hispanics

Very Brand loyal, many hispanic designers emerging. Specially designed cosmetics like Zalia

Asians

Love of shopping and higher incomes. Petite-oriented lines do well.

READ: Asian American Designers

Catering to the Multicultural Consumer

• Adding product lines
• Reaching out over new media
• Merchandising that is ethnically diverse
• Advertising that addresses minorityw
• Foriegn Language sales associates and managers
• Special events for multicultural shoppers