Diversity an inconvenient but necessary evil?

2012-03-04T17:13:00.006-08:00

A recent article in Forbes focuses on the need for US Corporations to pay more than lip service to diversity and how the new "Super-Consumers", the minorities in the US, will define the brands of tomorrow.

“Minority” groups will represent 54% of America’s population in less than 30 years, yet America’s corporations are still uncomfortable with the changing face of this country. Corporations need to educate themselves more about the new consumer groups they must serve in order for their brands to stay relevant. Right now, corporations are dividing the United States by segmenting consumers, and focusing more on free market enterprise instead of cultural unification. That’s why diversity has become a term that is dividing this nation, because the “elite classes” in government and business view diversity and all that it’s become associated with as an inconvenient but necessary evil.

US Hispanics are already "defining the brands of tomorrow." US Hispanics are ahead of Non-Hispanic whites in terms of Lifetime Consumer Spending. According to a 2011 study by Geoscape, a consumer research outfit, the Lifetime Consumer Spending by US Hispanics exceeds that of non-Hispanic whites in the US by 16%.

The Forbes article on the New Super-Consumers here.

53% Of New Household Units In Q3 Were Hispanic

2011-12-08T17:34:00.000-08:00

According to Housing Wire, despite this moribund economy, the Hispanic consumer segment is showing signs of robust recovery. The latest US Census data on housing show that the majority of new housing units in the 3rd quarter of 2011 were Hispanic.

Money quote:

Minority households are taking advantage of the lower end of the housing market where, Becerra believes, prices have hit the bottom. "It's the only place where the possibility of buying is right now," he said.

The entire article on Housing Wire here

APComm blog

Diversity an inconvenient but necessary evil?

53% Of New Household Units In Q3 Were Hispanic