If you have children, then you already know what time of year it is. The back-to-school shopping season is a yearly tradition for many families – and a tradition that retailers have capitalized on through deals and promotions for decades.
But there’s something that’s changing about the back-to-school shopping season: it’s becoming an increasingly multicultural experience.
In fact, we released a study today looking at U.S. Census, Bureau of Labor Statistics and our own report, the American Marketscape DataStream report, which we release every year. The study examined common back-to-school purchases between 2003 until the last Census data release in 2011.
Its results paint an increasingly diverse picture of back-to-school consumer. During that timeframe, Hispanic household spending rose 55 percent – nearly 20 percent higher than the national growth rate on back-to-school items. When it came to higher education-related expenses, the results were even more dramatic, as Hispanic growth outpaced the national average by a 2:1 margin.
The infographic linked here illustrates the growth in the Hispanic back-to-school market.
What does this mean for your business? It’s another example that emerging ethnicities are creating a New Mainstream American consumer. Any effective business strategy must follow from a clear understanding of exactly who these consumers are and how they interact with the brands and stores they like. If you’re interested in looking at how successful businesses reach these ethnicities – not only during back-to-school, but throughout the year– check out a few of our recent successes.
Let me know if your experiences in back-to-school shopping mirror these findings. Please Reply below with your comments.