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.
Of the three primary groups , African Americans possess $87.3 billion in purchasing power, Asian Americans possess $90.2 billion, and Hispanic Americans hold $104.5 billion.
Although they account for only 2.4 percent of all ethnic individuals in the country, they represent 39 % of total income, a significant portion of wealth that shouldn't be ignored.
While these recessionary times have luxury marketers overly cautious, brands may benefit by attracting new audiences that could otherwise help them survive and thrive.
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