This report, published April 2009, estimates the population, income, and purchasing power of “affluent” ethnic consumers in the United States. The ethnic market continues to be an important segment for businesses to target. The ethnic population in the United States grew at rates almost three times that of the total population from 2000 to 2007. For the purpose of this analysis, the ethnic population is composed of three groups:
- Non-Hispanic, African Americans/Blacks
- Non-Hispanic, Asian Americans
- Hispanics/Latinos
From 2000 through 2007, the ethnic population grew 19.9 percent, compared to only 7.2 percent for the total population. In total, the ethnic population increased by almost 15.8 million people. The Asian American and Hispanic/Latino populations both grew at rates of 29 percent, four times that of the national population. In 2000, the Hispanic population totaled just 12.5 percent of the U.S. population. By 2007 that share represented 15.1 percent. The ethnic share of the total U.S. population now stands at 31.6 percent, compared to 28.2 percent in 2000. Considering this trend, the affluent ethnic population is an important target market for businesses across the country. Statistics for these ethnic groups are presented for affluent individuals with annual income of $75,000 or greater, and households with annual income of $150,000 or greater.
Methodology: Estimates in this report are based on data gathered from the 2007 American Community Survey (ACS) conducted by the U.S. Census Bureau. The ACS provides “estimates of demographic, housing, social, and economic characteristics every year for all states, as well as for all cities, counties, metropolitan areas, and population groups of 65,000 people or more.” [SOURCE: Survey Basics: About the ACS, Census Bureau, http://www.census.gov/acs/www/SBasics/]
Cost: $495 (Includes 30-minutes of phone consulting.)
Pages: 12 (Includes charts and statistics.)
This report will be delivered within 24 hours of payment. For quicker delivery, questions or more information, contact Andrea Hoffman at (973) 846-0155 or email her at andrea@diversityaffluence.com.
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