10 Facts On Lucrative Ethnic Market
10 Simple Fact on lucrative and profitable Ethnic Market.
- It’s estimated that nearly 30% of companies make no attempt to target their good and services at ethnic minority consumers, but fifth of those who do reckon their marking strategies successful. Growing ethnic diversity is not just characteristic to UK markets but to all global players.
- Ethnic market spending power is £12 billion annually and highest rates of EM consumers are in London, Bristol , Birmingham, Bradford, Manchester, Leicester and Sheffield.
- 2/3 of Asians have a disposable income over £30,000.
- Asians are the fastest growing middle class and account for half of all new UK millionaire. Mintel records reveal high ownership of computers , TVs and multiple ownership of care and houses among EMs.
- Ethnic Youth are major shapers of trends and tastes in lucrative.
- 15-24 age group is especially influential in fashion, music entertainment sectors.
- For 57% of London’s population English is the second language.
- 60% of chemists and pharmacist in the UK are multicultural.
- In Wales, more than a quarter of babies have foreign-born mothers, who are mostly housewives.
- The UK ethnic community is well educated and younger than the UK average.