Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report analysing the young urban consumer market in the U.S.
Young Urban Consumer Market in the U.S. reports that despite controversy surrounding hip-hop music, it has become part of mainstream American culture. The report finds that young urban consumers form a highly influential consumer segment that plays a major part in setting trends and determining fashion.
The report shows that although originally formed in the inner-cities, hip-hop culture has crossed over into suburbia. More than half, or 57%, of urban youth, age 12- to 34, are white, although the proportion of African Americans and Hispanics who are Young Urban Consumers is greater within their own ethnic segments than is the case for non-Hispanic Whites.
Authors of the report note that this group is important to the U.S. economy. Aggregate income of these 37 million young urbanites will grow from $594 billion in 2007 to $684 billion in 2012, much of which will be spent on luxury items. They further note that at the core of the trendsetting power of young urban consumers is their ability to influence the consumer choices of their friends. This demographic is among the first to try new things and spend their income on favourite product brands.
The study highlights that urban youth shoppers put a high priority on brand loyalty, and brands achieving the greatest success have formed a connection with hip-hop artists. It further notes that significant sales can be attributed to products prominently featured in lyrics, spontaneously embraced by the hip-hop world and products that appear to be genuinely used by an artist prior to the relationship.
The report analyses the consumer choices of the tens of millions of 12- to 34-year-olds that connect with hip-hop. This report provides an in-depth look at market size, trends and opportunities as well as the core values driving consumer behaviour. It identifies all aspects of young urban life, including where they live, race, education, employment and income.
Young Urban Consumer market in the U.S.
Report Buyer product ID: PKF00113
Report Buyer category: Consumer Goods & Retail
