Tuesday, September 07, 2010

Race and Research

I don't like being lumped into a big group.

Most folks don't.

Yet researchers continue to lump us together.

A common "Target Demo" for broadcasters are adults age 25-54.

In my own family, I have myself, my son, two daughters, and three son-in-laws that are in that demo. There are three others in my family that are borderline with that demo.

But if you look at the trends and ways to create patterns, it makes sense, allowing for exceptions to all the research.

With all of that in mind, here's some info on consumer research and buying habits:
Consumer Spending Influenced by Cultural Differences Whites and Asians have the largest incomes, and generally have more disposable income than Hispanics or Blacks to spend on consumer goods and services. However, cultural and lifestyle factors introduce variations in spending by category, according to data from the New Strategist Who's Buying series based on Bureau of Labor Statistics cited in the 2010 Retail Business Market Research Handbook.

Asians and Hispanics, for example, outspend other races/ethnicities on groceries. Both cultures favor cooking with fresh ingredients, some of which are exotic and can be more expensive than common canned or frozen ingredients. In addition, Hispanics tend to have larger households that include extended family members, driving up their grocery bills.

Asians outspend other races/ethnicities in the consumer electronics category. This is a cultural difference: Many Asian countries are leaders in technology, and their higher-than-average spending may be to keep up with the trends they hear about from their homelands.

Non-Hispanic Whites and Asians dominate spending on jewelry, a category that is largely dependent on having disposable income.

Hispanic spending on toys and games and sporting goods is second only to non-Hispanic Whites. Hispanic families have more children than families of other races/ethnicities. In addition, Hispanics are the youngest ethnic group and are more likely to be in the early stages of starting a family, when spending on toys and games is at its highest.

(Source: Research Alert, 08/20/10)

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