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MarketingVOX: Termed a new brand of consumer and accounting for 19.6 million of the highly coveted 12-34-year-old demographic, the "urban hustler" is responsible for nearly one-third of spending across critical influencer categories, according to a new study by Alloy Access, MarketingCharts reports.
The study from the multicultural and urban marketing division of Alloy Media + Marketing offers data on the spending power and influence of what it labels "an emerging and powerful consumer market," particularly in the entertainment, fashion and technology categories.
As much a mindset as a geographical designation, Urban Hustler refers to those "closely connected to hip-hop, ethnically diverse with aspirations to succeed and a shared set of passions," according to Alloy:
- Nearly four in ten (39 percent) live in suburban areas and a similar amount (39 percent) are white.
- They moreover believe in their own influence - almost three-quarters (73 percent) characterize themselves as someone their friends seek out for advice on the latest trends.
Some other key findings from the study:
- Numbering 19.6 million, the Urban Hustler consumer segment comprises just over one-fifth (21 percent) of consumers between the ages of 12-34.
- They are responsible for a $90 billion in annual discretionary spending across critical consumer categories including entertainment, technology and fashion.
- Urban Hustlers are spending, on average, over $100 more than the non-urban population monthly; their overall discretionary spending reaches $383 per month.
- Urban Hustlers are spending 45 percent more on clothing, accessories and shoes than non-urban consumers each month.
- More than half (54 percent) own a laptop, more than the overall market.
- They spend close to $9 billion yearly, or one-tenth of their total annual spending, on recreational activities.
MarketingCharts offers additional findings from the study.
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