A $33 billion housing and housing services market, $16 billion motor vehicle and services market, $13 billion food and food services market, among others.
New York, NY (PRWEB) December 13, 2011
A first-of-its-kind grass-roots, American Muslim market landscape and consumer needs study has been released by DinarStandard, a market research and advisory firm specializing in the emerging Muslim markets. The Study provides marketers with actionable insights to benefit from this lucrative, niche, multi-cultural market.
The American Muslim Market 2011: Business Landscape & Consumer Needs Study leads with a nation-wide survey of consumption habits, satisfaction levels and demand gaps of an estimated 5.8 million to 6.7 million Muslims in America (2010) with an aggregate 2010 disposable income ranging between $107 billion to $124 billion. Benchmarking with national average house-hold spending, this would translate to a $33 billion housing and housing services market, $16 billion motor vehicle and services market, $13 billion food and food services market, among others. Based on the Study survey, Food & food services and Education ranked a higher expense category in American Muslim households relative to the national average.
The Study was exclusively released at the 3rd Annual American Muslim Conference, held on October 29, 2011 where major national brand representatives and entrepreneurs were in attendance reflecting the growing importance of this sizeable market. "No doubt, this market presents a significant opportunity for businesses. While brands such as Walmart, Best Buy, Whole Foods, and others are beginning to engage with this market in a targeted way, the potential is still mostly un-tapped," said Rafi-uddin Shikoh, Managing Director of DinarStandard.
The Study survey showed 80% of the respondents feel mainstream companies should pay special attention to Muslim consumers, while a majority of the respondents (52%) said they 'sometimes' experience unpleasant customer service which they feel is due to their Muslim identity.
The Study provides fact-based insights to equip marketers with a) the demand profile, satisfaction levels, and expectations of American Muslim consumers, and b) actionable resources and a framework for best engaging with this large, complex market.
A key dynamic of success in the American Muslim market is navigating the role of ethnic and indigenous sub-clusters (Arab, South Asian, African American, others) that exist today within this market. The Study provides major ethnic sub-cluster profiles that include their centers of population, cultural dynamics and national interaction. The full-study also presents marketers with a prioritized list of over 100 major Muslim or related ethnic and indigenous influential organizations as well as media channels. The study concludes by offering new market entrants frameworks to best evaluate, identify, and communicate with this growing, dynamic market.
A free Executive Summary is downloadable from the American Muslim Market 2011: Business Landscape & Consumer Needs Study page.
DinarStandard™ is a business media, research and advisory firm specializing in driving growth for companies in the emerging global Muslim markets. For more than five years, DinarStandard.com has been a pioneer business media delivering original analysis highlighting the emergence of the global Muslim Lifestyle Market. Its anchor report, DS100-Top 100 Businesses of the Muslim World, Social Responsibility in Islamic Financial Institutions and other original reports are regularly covered by global media such as The Economist, Forbes, Zaman (Turkey), Malaysian Star, and many others. Through its Research & Advisory services, DinarStandard™ delivers market opportunity analysis, business planning, marketing/media planning, and campaign execution for its clients.