American Demographics: The Rising Tide.

The lower middle class now accounts for one-sixth of the U.S. population, amounting to a market worth as much as $120 billion per year. Why have mainstream marketers paid so little attention to those in the lower-income echelons?

On a nippy afternoon in January, Bernadette Mosley joined the technology vanguard without knowing it.

With her 3-year-old daughter Stephanie in tow, Mosley entered the ATM vestibule at North Fork Bank in the Jamaica section of Queens, New York to cash her social security check. Rather than head to a teller, Mosley stood before a machine that looked just like an ATM, check in hand. She entered the check’s value into the machine, typed in her social security number, fed the check into a slot, and peered into the attached camera lens. Seconds later, the machine whirred, and a wad of cash poured out.

For complete article CLICK below – courtesy of American Demographics:

American Demographics, April 2001

The Rising Tide.

By Hassan Fattah

http://www.demographics.com/publications/ad/01_ad/0104_ad/ad010402.htm

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