The Buying Power of Diverse Communities in the US Is Rising

How the face of the American consumer is changing

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Americans’ disposable income is estimated to reach $22.8 trillion by 2026, up 23% compared to 2021. More than in past decades, this buying power will come from a diverse group of shoppers.

The University of Georgia’s Selig Center for Economic Growth anticipates that in a few years, more than $1 out of every $5 of U.S. disposable income will belong to Black, Asian, multiracial and Native American consumers. In 2000, that number was 66 cents.

Hispanic consumers are also set to grab a large share of this shift in disposable income: By 2026, these shoppers are expected to control 12.1%



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This story first appeared in the Oct. 31, 2023 issue of Adweek magazine. Click here to subscribe.