The Demographic and Economic Tides Are Changing


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If demographic trends continue, minorities will make up a majority of the US population by 2040. The demographic change will usher in a change way business will be conducted.  Currently, large companies have little economic incentive to develop products that address issues that minorities uniquely face because the buying power of White Americans significantly outweighs the combined buying power of all other groups.  By 2040, the relative buying power of minorities will be so great that it will no longer be in the best interest of companies to ignore the economic opportunities found in minority markets. Astute companies have realized that the economic tide will soon change and are diversify their workforce now so I that they will be able to better compete in the future. This article spotlights Tristan Walker’s effort to assist tech companies through the diversification process. Tristan’s goal is directly aligned with the mission of NSBE; the Society must support leaders like Tristan going forward.

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