Friday, May 25, 2012

Don't forget demographics - don't forget race

I know that I am obsessed with demographics. Sorry, but that is just how it is.

However, I should weave into my thinking about the world the factor of race. Certainly if I was focusing on the US market I should.

A recently released U.S. Census Bureau report estimated that as of July 1, 2011, minorities made up 50.4% of the US's population.

The percentage of Americans who are Caucasian continues to fall steadily, especially among the youngest generation.

A demographer at the Brookings Institution summed-up the situation: “We’re moving from a largely white and black population to one [that] is much more diverse and is a big contrast from what most baby boomers grew up with.” You can say that again.

The situation in the UK is not so extreme but the subject of race and marketing gets far less attention than it deserves. I took this information and quote from another Wharton article. Dick Stroud

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