Study: The purchasing power, influence of the multicultural Millennial
Nearly half of multicultural Millennials use their mobile devices to compare prices and browse when shopping, and almost 80% agree that the internet is a great place to buy products.
The multicultural Millennial population consists of almost half of the Millennial generation (42%) and represents local markets that drive 47% of the total U.S. gross domestic product. And, a new report released by Nielsen, New York, explores key aspects of this population, including demographic information and trends, analysis of their choices of home cities and how culture, food and technology are essential points of entry for reaching this generation.
“In addition to the influence they command on their more non-Hispanic white peers, there is another reason marketers and advertisers should be interested in multicultural Millennials—many of them are first generation professionals who are in prime acquisition mode,” says Courtney Jones, vice president of multicultural growth and strategy. “A growing disposable income among multicultural Millennials is a ripe opportunity for companies that court them and make an effort to cultivate and earn their business.”