Companies can’t afford to ignore women because they influence up to 85% of all purchasing decisions. And, they can’t afford to ignore women of color, a rapidly growing segment of the population, expanding “three times faster” than Caucasian women. Although the phrase “women of color” traditionally refers to African-American women, workplace-diversity expert Miriam Muléy uses the term to include black, Hispanic, Native American and Asian-American women. These women make $1 trillion in purchases annually as US consumers and generate $230 billion a year as entrepreneurs. Muléy presents an avalanche of statistics, mostly from 2007 to 2008, to convince companies to employ and market to this underserved American demographic. Her decision to emphasize statistics and downplay interpretive discussion may frustrate some readers, but even so, getAbstract recommends this marketing discussion and its data bank to CEOs, presidents, and other senior leaders, as well as to marketing and advertising managers seeking eye-opening statistical support.
In this summary, you will learn
- Which socioeconomic groups make up America’s women of color,
- Why these groups are valuable consumers and employees, and
- Why you should market to women of color.
About the Author
Workplace-diversity expert Miriam Muléy is CEO of The 85% Niche, a marketing firm.