SOURCE: Packaged Facts

Packaged Facts

August 13, 2009 13:20 ET

Multicultural Women to Take Leading Role in U.S. Economy

NEW YORK, NY--(Marketwire - August 13, 2009) - Propelled by the prominence of First Lady Michelle Obama and newly minted Supreme Court Justice Sonia Sotomayor, 2009 has become the year of "multicultural" women. The U.S. is on the verge of experiencing the multicultural women's century, according to "The U.S. Market for Multicultural Women: How African-American, Latina and Asian-American Women Are Driving Change in the American Consumer Economy, 2nd Edition," by leading market research publisher Packaged Facts.

Already accounting for nearly a third of the women's population, multicultural women (defined as women who do not identify themselves as non-Hispanic white) will be in the majority in a little more than 30 years. Barely 20 years from now, multicultural women will predominate among 25- to 44-year-old women. And by 2050, multicultural women will represent 51% of the female U.S. population.

Such population strength is leading to economic might. "Black, Latina, Asian-American and other multicultural women already wield buying power in excess of $1 trillion and are the primary decision-makers in the vast majority of their homes," said Tatjana Meerman, Publisher of Packaged Facts. "Multicultural women represent more than one-quarter of the buying power of all U.S. women."

Beyond their pocketbook power, multicultural women represent a significant opportunity for marketers. Using data from Experian Simmons Winter 2009 National Consumer Study, the report found that multicultural women are relatively optimistic about their own financial situation and the economy as a whole. Multicultural women make up 43% of women who expect the American economy to be somewhat or significantly better off 12 months from now.

"The U.S. Market for Multicultural Women, 2nd Edition" provides an overview of market trends and opportunities and the buying power of multicultural women, offering a look at demographic trends affecting the market. The report provides an in-depth analysis of the consumer behavior of multicultural women, including the use of leisure time, money management and shopping patterns. Also discussed are the three main segments' media usage patterns and receptivity to advertising. For further information, visit: http://www.packagedfacts.com/redirect.asp?progid=71120&productid=2118701.

About Packaged Facts -- Packaged Facts, a division of Market Research Group, publishes market intelligence on a wide range of consumer market topics, including consumer goods and retailing, foods and beverages, demographics, pet products and services, and financial products. Packaged Facts also offers a full range of custom research services. Follow us on Facebook at www.facebook.com/Packagedfacts.

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