Ethnic women represent $723 billion in purchasing power, according to a new study by New York-based Packaged Facts. “The U.S. multicultural women market” said the African-American, Asian and Hispanic female population grew 40% between 1995-2003. By 2008, this group will grow to approximately 36 million, with buying power surpassing $1 trillion.
Also, Packaged Facts reported the 84 million ethnic men spend $1.4 billion a year on personal care items, according to the study, “Market trends: the ethnic male personal care market.” By 2008, the firm estimated sales will grow 20% to $1.7 billion. More info: www.PackagedFacts.com.