STATS: UNDERSTANDING DIVERSITY AND CONSUMERISM
According to Nielson: “The Intercultural Affinity model is about majority marketing, not minority marketing. With over half of the U.S. population under the age of 50 now living in multicultural or blended households–those that include multiple races and ethnicities–this model provides a truer picture of the American mainstream,” said Mike Lakusta, CEO and Founding Partner at EthniFacts.
U.S. multicultural buying power is growing at an exponential rate compared to the total U.S., increasing from $661 billion in 1990 to $3.4 trillion in 2014. This is more than double the growth of total U.S. buying power.
More than one in three households have a member that identifies with a disability. Disabilities span across age, race, and gender so there is reason to believe consumers with disabilities should not differ much from the general population. Nearly 4 Million households have a member with an intellectual disability and more than 20 Million households have a member with a physical limitation. This prevalent consumer segment delivers a considerable annual spend.
Not only do LGBT households make 10% more shopping trips in a year than the average U.S. household, recent Nielsen research has found that they buy more at checkout. In aggregate, LGBT households spent an average of $4,135 at retail stores in 2014 - 7% more than non-LGBT households.