Currently our undercover team consist of 10 researchers of 5 different ethnic groups including African American, Caucasian, Hispanic, Indian and Asian. All sectors have male and female. Although the core team consist of only 10, the research team is completely scalable to what as much researchers as you need as we have a plethora of permalancers at our disposal when needed.
African Americans- With a buying power of 1.1trillion dollars African American as a collective are at the center of a plethora of research studies. African-Americans will continue to be significant consumers and heavy influencers of goods and services purchased in the United States. Blacks as a driving force for popular culture, with 73% of Whites and 67% of Hispanics who believe Blacks influence mainstream American culture. Chances are some of your customers are African American. Learn how they show and perceive your business when they enter your business.
Caucasian Whites have 12 times the wealth of blacks. Whites are 5 times more likely to receive large gifts or inheritances. rich white families spend more on entertainment and groceries than rich black families. When it comes to purchases that require a substantial sum of money up front, for instance a downpayment for a car or household appliance, lower-income black families were much less likely to make a purchase than their low-income white peers.
Just 35 percent of white consumers say that they enjoy shopping, even when they don't buy anything, compared with almost half (47 percent) of Asian, 43 percent of black and 42 percent of Hispanic shoppers who say the same. Almost two-thirds (62 percent) of white consumers say they go shopping only when they absolutely need something, versus 57 percent of Asians, 54 percent of Hispanics and 47 percent of blacks who say they do the same. With that in mind Caucasian Americans tend to make a list prior to going going shopping and tend not to be impulse buyers. And nearly half of white consumers don't stick around to browse: 49 percent say that when they do go shopping, they usually just get what they want and leave. Things to consider is are you positioning merchandise that caucasians are guaranteed to purchase in the location on the shelves? Are you utilizing shelf space property? Where do Caucasians naturally gravitate to when they enter your business? These are questions that are answered with a Undercover Customer Experience Assessment (come up with a unique name).
Indian Today Indian-born Americans number 2m and they are probably the most successful minority group in the country. Compared with all other big foreign-born groups, they are younger, richer and more likely to be married and supremely well educated. Median annual household income for Indian Americans in 2010 was $88,000, much higher than for all Asian Americans ($66,000) and all U.S. households ($49,800) — perhaps not surprising, given their high education levels. This means they have a surplus of disposable income to patronize your business. Why not learn they buying habits and tab into that disposable income.
Hispanic With 57 million Hispanics in the U.S. alone, this group now represents almost 18% of the country’s population and significant spending power. In fact, Hispanic buying power reached $1.4 trillion in 2016—and we expect it to reach $1.8 trillion by 2021 with a projected population of 94 Million. Hispanics reply on coupons for the majority of their in store purchases. As a business owner if you are thinking on serving the Hispanic community then incorporating coupons into your growth and marketing strategy is paramount.
With a current $825 billion in consumer buying power—which is expected to rise to $1.1 trillion by 2020, Asian American and Pacific Islanders (AAPI) are the fastest-growing U.S. population segment with an expanding geographic footprint in the Midwest and South—beyond traditional immigrant enclaves in the West and Northeast—the Asian-American impact on consumer preferences is rippling across mainstream America, with far-reaching implications for brands and marketers. AAPI women own more smartphones than any other female racial group in the United States, are avid users of social media, and are influencing mainstream health and beauty trends, among other findings. AAPI women value healthy living, with 50 percent of respondents reporting that they regularly consume organic food. They also place importance on self-care based on the amount of purchases of health and beauty products, and they are avid travelers. This is definitely a force to be reckoned with and if they are part of your demographic, it would behove you to appease this subculture.