The United States is a diverse population and anyone in business should try to learn more about the buying power of various groups. Published by Selig Center for Economic Growth, Terry College of Business at The University of Georgia, The Multicultural Economy 2008 report, by Jeffrey M.Humphrey, outlines the buying power of Native Americans, Asian, Hispanic, and Black Americans in the US, backed up by statistical data from 1990-2008 along with projections for 2009-2013.
For instance, according to the report, Asians spend more on food, housing, major appliances, telecom services, education, and personal insurance – you’ll find the same info for each group. There are also many tables with stats for topics such as U.S. Buying Power Statistics by Race, Total Buying Power by Place of Residence, The Nation’s Largest Consumer Markets in 2008 (California tops the list), The Nation’s Fast-Growing Consumer Markets in 1990-2008, and buying power statistics are available for all fifty states.
Saturday 14 Mar 2009 | All Business