PURCHASING POWER

Women’s Purchasing Power in the Marketplace

• Women are responsible for 83% of all consumer purchases in the U.S. The following is a list of certain types of items: (Barletta, Martha, Marketing to Women, 2003)
• Women control most of the spending in the household, about 80%. (Marketing to the Most Lucrative Target of All—Women 50+, Martha Barletta)
• Women dominate a substantial portion of the market for cars, computers, and cell phones. (Marketing to the Most Lucrative Target of All—Women 50+, Martha Barletta)
• Women’s spending is an astonishing $5.2 trillion. (Barletta, Martha. Marketing to Women, 2003)
• With the Hispanic population over 44 million (including Puerto Rico) and an estimated purchasing power of over $700 billion, the domestic Hispanic population on a global scale would qualify as the 8th largest economy in the world surpassing that of Canada, Spain, Mexico, Brazil, and India. (HACR Corporate Governance Study) 
• Hispanics spend more than 700 billion dollars a year on good and services (Selig Center 2005)
• Hispanic consumers were the target audience for advertisers in 2000; $2.1 billion was spent in advertising. (“Multicultural Marketing News,” Advertising Age, November 19, 2001)
• In 2004, 86% of advertisement was directed towards the Hispanic demographic, compared to 70% in 2002. (Diversity Inc., 2005)
• Hispanics buying power will increase from $220.0 billion in 1990 to $1,014.2 billion in 2008, an increase of 357%, significantly higher than the growth rate for any other race or ethnicity. Its projected share of the consumer market versus other demographic groups in 2008 is the largest of people of color at 9.6%. (Jeffery M. Humphreys, “The Multicultural Economy 2003:  America’s Minority Buying Power,” Georgia Business and Economic Conditions, Vol.63, No. 2, Second Quarter 2003)