Sunday, January 20, 2008

Hispanic & Black Consumer Purchasing Choices

Audio Report #1: Mary Kay Targets Hispanic Women For Cosmetic Purchases

Audio Report #2: A researcher ponders the consumer purchases of Hispanics and Blacks

Do minorities spend more on indulgences like cosmetics than other groups? Kerwin Charles, Steans Family Professor at the University of Chicago, considers the numbers behind an urban myth.

Hispanics and Blacks who are disproportionally poor have been shown to spend a greater percentage of money on the three points that the researcher had focused on - clothing & jewelry, personal care items and vehicle expenditures and of these points items that are portable and those which are visible to others. Poor people of all races express this same sentiments as a means of compensating for their perceived relationship to others in the national economic hierarchy.

Clearly both education and a greater purpose for the use of one's money are the vital elements in redirecting this vital issue.

More references on the subject:

Commentary on Professor Charles' work

article: Blacks & Footware purchases

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