Multicultural shoppers are key drivers of growth
The need for more investment to reach multicultural consumers is clear. But it’s not just about an increase in marketing budgets. Companies that want to be successful in a multicultural future need a culturally nuanced roadmap to the youngest and fastest-growing segment of the U.S. population.
Our report provides that roadmap while showing that multicultural consumers already represent more than their numerical share across a wide swath of product categories. In fact, in many product categories, they are “super consumers,” which means they are the highest spenders in a given category, making their dollar key to driving growth.
Multicultural shoppers’ status as key drivers of future growth is not simply attributable to their population growth trajectory and economic clout. These powerful consumers also wield unprecedented influence on the attitudes and consumption habits of non-multicultural consumers. Marketers and advertisers who grasp and activate the multicultural edge will be poised to thrive in an increasingly multicultural mainstream.