MIAMI--(BUSINESS WIRE)--As multicultural leaders gather for the 11th Annual New Mainstream Business Summit, America’s cultural landscape is looking increasingly diverse.
America’s increased cultural diversity is highlighted through the 2015 American Marketscape Datastream report, an annual study of new mainstream population growth, buying power and targeted industry best practices for Hispanic, African American and Asian American consumers. Published by Geoscape, the report is the leading analysis of America’s multicultural community, comprised of Geoscape’s proprietary demographic and economic estimates and projections for the years 2015 and 2020.
This year’s report highlights the increased power and influence of America’s New Mainstream consumers:
- Since 2000, the population of the United States has grown by slightly over 40 million people – 35 million (or 90 percent) is from Hispanics, Asian Americans and African Americans.
- Hispanic, Asian American and African Americans now account for 36 percent of the total population of the United States. By 2020, that total will rise to 39 percent.
- The U.S. Hispanic population jumped to 58.2 million in 2015, an increase of 2 million during the past year.
- By 2020, there will be 66.4 million Hispanics in the United States.
- The U.S. Asian population rose to 17.4 million in 2015, and will rise to 20.2 million by 2020.
- The cumulative lifetime spending of today's household’s rest of life is more than $300,000 higher among Hispanics and more than $800,000 higher among Asians, compared to Non-Hispanic White.
- In 2042, the Non-Hispanic white population will decrease below 50 percent of the total population of the United States.
- There are 372 counties in the United States that are “majority -minority,” including many of the most populated areas in the country.
The report also includes a detailed breakdown of the cultural nuances of the Hispanic population, a proprietary metric developed by Geoscape called Hispanicity™. This year, the largest percentage of U.S. Hispanics fall into the “Nueva Latina” category, categorized as American-born, second-generation Hispanics that share both American culture and their family’s legacy culture. In contrast, the largest proportion of the Asian American population defined by Geoscape’s Asianicity™ scale falls under the “very westernized” category. Nearly 38 percent of all Asians are English language dominant, have lived in the U.S. for more than three generations and show very few native Asian cultural preferences.
“While many major corporations have embraced this demographic shift, most are still either experimenting or not committed to aligning their companies with this growth trend,” said Cesar Melgoza, CEO and founder of Geoscape. “More CEO’s would do well by their board and investors if they would equip their organizations to tap into the growth that will yield dividends well into the foreseeable future.”
To download the full report, visit the link here. For more information on the New Mainstream Business Summit agenda, venue and registration, visit the full event page at Geoscape.com.
About Geoscape:
Geoscape provides automated intelligence systems, unique data products, research and analytic services for companies seeking to tap into the growth of new mainstream consumers in the U.S., Canada and Europe. The online Geoscape Intelligence System (GIS), the DirecTarget® database enrichment system and a variety of geo-demographic, consumer, business and media databases enable actionable insights that lead our clients to gain significant business advantages. Geoscape is a privately held company owned by NMS Capital and Cesar M Melgoza, Founder & CEO, and is headquartered in Miami.