December 17th, 2007
Changes in buying power (2000-2006), Selig Center for Economic Growth, June 2006
The inappropriately labeled "business case for diversity" has many components, and its makeup can vary a great deal across industries and organizations. There are a couple of components that apply to all industries and all organizations; 1) changing populations demographics, and 2) changes in buying power.
The Selig Center (out of the Terry College of Business, University of Georgia) has provided a lot of great data regarding the continuing and substantial changes in buying power by racial / ethnic groups. According to their research from 1990 – 2011 the combined buying power of the African American, Asian and Native American communities will increase by close to 300%, reaching $1.8 trillion.
How is this going to impact your industry / community / organization? If you have not yet thought about it, this might be a good time. Here is some great information to get you started.