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.
The study from the multicultural and urban marketing division of Alloy Media + Marketing offers data on the spending power and influence of what it terms “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%) live in suburban areas and a similar amount (39%) are white.
- They moreover believe in their own influence – almost three-quarters (73%) 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%) 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.
- That $90 billion constitutes nearly one-third of all discretionary spending across the 12-34 age group.
- 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% more on clothing, accessories and shoes than non-urban consumers each month.
- One-fifth of the $90 billion spent goes toward clothing, shoes and accessories, with annual numbers totaling $17.4 billion.
- They spend 2.5 times more each month on sneakers than non-urban consumers: close to $6 billion per year on the latest “kicks.”
- Two-thirds of Urban Hustlers spend at least some money on fashion items like clothing and accessories monthly, and almost 40% – vs. only 17% of non-urban consumers – spend money on sneakers each month.
- More than half (54%) own a laptop, higher than the overall market. In addition, Urban Hustlers are more likely than non-urban consumer to use cell phones frequently.
- They spend close to $9 billion yearly, or one-tenth of their total annual spending, on recreational activities.
- Though personalities like Jennifer Lopez, Oprah Winfrey and Jay Z top their list as those they’d most want to be like, most (22%) aspire to be like Bill Gates, who easily beat out P Diddy (6%).
About the study: The survey was conducted online within the United States by Harris Interactive on behalf of Alloy Access between February 22 and March 5, 2007, among 1,386 children and adults (ages 12-34), of whom 478 were between the ages of 12 and 17, and 908 were between the ages of 18 and 34. Respondents were given an Urban Hustler score based on their responses to select attributes.