SEPTEMBER 12, 2006
Hispanics: Top minority spenders in 2007
Hispanic buying power in the U.S. will draw even with African-American buying power in 2006 -- at just under $800 billion -- and is projected to exceed it in 2007, according to a report on minority buying power released by the Selig Center for Economic Growth at Univ. of Ga.'s Terry College of Business. The Selig Center estimated Hispanic buying power will be $863.1 billion in 2007, an 8.1% increase over 2006. Next year, Hispanics will control more disposable personal income than any other U.S. minority group. The gains in Hispanic buying power are largely explained by immigration and population growth. Better employment opportunities and higher business ownership are also boosting the Hispanic consumer market.
Gas prices could drop this fall
Gas prices could keep falling for months to come, USA Today reported. One analyst said consumers should see prices closer to $2 than $3 by Thanksgiving. Lower gas prices could be a shot in the arm for the economy. Richard DeKaser, chief economist at Nat'l. City in Cleveland, told the paper that continued lower prices may act like a tax cut and stimulate spending. He calculated that higher energy prices the first six months cut consumer spending 1%.
NYC will host Nat'l. Garden festivities
New York City will again host a festival in April commemorating Nat'l. Garden Month. The 1st NYC Grows Garden Festival was held this April in Union Square Park. "Next spring may be several seasons away but it is never too early to look forward to the blooming of New York City," said NYC parks commissioner Adrian Benepe. "We eagerly look forward to Nat'l. Garden Month 2007 and anticipate more flowers will bloom in our city than ever before."
Neighbors fume over urban campfires
The soaring popularity of outdoor firepits has caused a backlash in some communities. Minneapolis Star-Tribune reported last week that neighbors are complaining about poor air quality caused by urban campfires. City halls and fire departments are dealing with calls about smoke seeping into people's houses through open windows. Some have complained that neighbors are having fires too often or are burning materials that create too much smoke. Regulations on recreational fires vary in the Twin Cities. Some places are scaling back hours when fires are allowed.
Deadline nears for perennial display contest
Perennial Plant Assoc. and Plant Publicity Holland remind garden center managers that the deadline to enter this year's Perennial Marketing Contest is Oct. 1. A few digital photos and a brief written description of your creative perennial marketing display is all it takes to make you eligible to win a trip for 2 to the Netherlands. Entry forms are available online. Garden Center Magazine is the media sponsor for the event.
Worth a visit
When all is said and done, retailing is about consumers. This month we asked our exclusive consumer panel about their personal shopping habits. Only on GreenBeam.com