Geoscape, a provider of technology for business intelligence, data and analyses, has announced the results of its exclusive Geoscape Back-to-School Spending Study on the buying habits of U.S. consumers when the kids head back to class. The report shows that Hispanic household expenditures increased by 55 percent between the years 2003 and 2011, topping all other ethnic groups by nearly 20 percent. Other finds indicate that Hispanics spend more on higher education, taking into account the cost of college tuition. This expense has increased by 124 percent in just eight years. At the same time the investment of Asian-Americans and African-Americans also increased, while spending by the general population has remained stable since 2009.”The growing value of multicultural consumers in the back-to-school shopping season can only be ignored at the expense of retailers and manufacturers who don’t see this powerful trend” says Geoscape CEO Cesar Melgoza. “As the buying power of emerging ethnicities continues to rise, it’s important for businesses to allocate more resources and marketing efforts to serve these increasingly profitable consumers”. For more information, visit the blog and infograph on Geoscapes Back-to-School.
