Study: Rich ethnic consumers hold $282B in purchasing power

Affluent ethnic Americans have been invisible to luxury marketers until now. A new study by chief economist Greg McBoat of the research firm and consultancy, Diversity Affluence, reflects Estimates of Population, Income and Purchasing Power for African, A

Affluent ethnic Americans have been invisible to luxury marketers until now. A new study by chief economist Greg McBoat of the research firm and consultancy, Diversity Affluence, reflects Estimates of Population, Income and Purchasing Power for African, Asian and Hispanics Americans in America.

It defines affluent ethnic individuals with an annual income of at least $75,000 and households with an annual income of $150,000 or greater.

“Our data confirms wealthy ethnic groups, defined as ‘Royaltons,’ are a significant audience for all marketers to target,’’ Mr. McBoat said. “Of the three primary groups of Royaltons that we researched, African-Americans possess $87.3 billion in purchasing power, Asian Americans possess $90.2 billion, and Hispanic Americans hold $104.5 billion.”

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