Demographics in the UK are changing: the number of people from Minority Ethnic groups will double to almost a third of the UK adult population by 2061, while their estimated annual disposable income will rise to £575 billion, more than double what it is today.
Businesses who fail to engage meaningfully with these consumers stand to miss out on a cumulative disposable income of £16.7 trillion by 2061.
The study was a two year-long collaboration between WPP, GroupM and Ogilvy Consulting with original research from Kantar, BAV and Choreograph, and features data from 8,300+ participants from six ethnic groups: Black, East and South East Asian, Middle Eastern, Mixed Ethnicity, South Asian, and White.
Businesses who fail to engage meaningfully with these consumers stand to miss out on a cumulative disposable income of £16.7 trillion by 2061
