Buying power, we know, is one key signal of the growth and size of the vital GLBT consumer market. In our report, we cite buying power as another term for 'disposable personal income,' which is the total after-tax income available to an individual to spend on personal consumption, personal interest payments or savings. According to economists, it roughly equals 86 of income.
More Quotes from Don Montuori:
Supermarkets are being beaten at their own game by other food retail outlets that are doing a better job of continuously innovating, technologically advancing, and cautiously up-scaling food choices -- steps that are better servicing today's value-driven, gourmet-seeking consumers. Many supermarkets will either suffer a 'slow death by stagnation,' or self-revolutionize to meet today's consumers' expectations.Don Montuori
For perhaps the first time since the beginning of the hip-hop culture, we've been able to provide an empirical definition of what this market truly is. We finally have the hard data showing the difference in core values between young people who affiliate with hip-hop and those who don't, and the eye-opening differences span a wide range of areas from shopping behavior and purchasing decisions, to attitudes towards cars, media usage and fashion.
Don Montuori
The days of the 150 pair of toddler jeans, the 1,000 high-chair and the 2,000 leather-lined stroller are upon us and manufacturers as well as retailers are accommodating. However, these consumers are also big on nostalgia, high-quality durable items that will last through multiple baby-lives, high-tech features that will make their lives easier, and high-fashion at bargain prices.
Don Montuori
Having roughly the same purchasing power as Hispanics, African Americans tend to be left behind when it comes to marketing and advertising because Hispanics are expected to have more rapid population growth. Marketers would be wise, however, to tap into the African American segments that outpace their Hispanic counterparts, such as those with incomes greater than 50,000 owner-occupied households married-couple families and African American women-all sectors which offer huge potential in the consumer goods markets.
Don Montuori
We're seeing a phenomenal trend of 'humanization' in the pet industry, both in how owners treat pets as members of the family and how pet products are mirroring human products. There's a 'what's good enough for me is good enough for my pet' attitude driving growth in this market, particularly among affluent consumers, including aging boomers, empty nesters, seniors, singles, and gay couples, who spare no expense when it comes to premium pet supplies.
Don Montuori
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