hispanics in business
Buying Power
Buying Power–What Is It?
Buying power is defined as the total
personal income of residents that is
available, after taxes, for spending on
good and services. It is also called
“disposable income.”
Women’s Buying Power
In general, buying power is chal-
lenging to measure, and this is partic-
ularly the case when trying to measure
the buying power of women. Census
data is reported by household unit.
Since 50% of women are married
householders, heir individual spending
is lost in the “household” spending,
and thus difficult to find. The finding
that most women are the “principal
shopper” in their household implies
that women make the majority of
household purchases, but there is no
financial data associated with that
implication. Census findings do imply
that spending increases with income, doctorate degrees, $1,427 for people ing, and $807 on furnishings and
so a case can be made that as with professional degrees, equipment.
women’s incomes increase, so does $1,165 for people with master’s
their spending. By combining statis- degrees, and $987 for people with square6 Women currently earn more
tics below, some evidence for both bachelor’s degrees, compared to $740 bachelor’s (57.5%) and master’s
trends are supported. for those with associate’s degrees (60.0%) than men, and by
degrees, $604 for people with high 2016-2017, are projected to continue
school degrees, and $428 for those to grow their share to earn more
Income & Labor with no high school diploma. degrees than men in bachelor’s
Statistics Show Women (59.9%), master’s (62.9%), doctorate
Are Working and Earning square6 College graduates’ average (55.5%), and first professional
More annual expenditures in 2006 were (53.3%).
square6 Education is a factor in income $63,864, compared to $39,305 for
and spending – higher degrees lead to high school graduates. They also square6 Married couple families in
higher median salaries as well as spent $7,353 on food, $21,818 on which the husband and wife work had
increased expenditures. housing, and $2,449 on household far higher median incomes ($81,891)
furnishings and equipment compared than married couple families in which
square6 The median weekly earnings in to $5,432 spent by high school the husband worked but the wife did
2007 was $1,497 for people with graduates for food, $13,195 for hous- not ($55,429).
76 Celebrating 15 Years of Embracing Diversity WWW.HNMAGAZINE.COM
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