The Multicultural Edge: Rising Super Consumers
On this edition of In Black America, producer/host John L. Hanson Jr. speaks with Cheryl Pearson-McNeil, Senior Vice President of U.S. Strategic Community Alliances and Consumer Engagement for Nielsen. Nielsen is a leading global provider of information and insights that measure what consumers watch and buy in more than 100 countries around the world.
Multicultural consumers are transforming the U.S. mainstream. Propelled by population growth and expanding buying power, they are at the leading edge of converging demographic and social trends that are reshaping how marketers and advertisers use culture to connect with increasingly diverse customers. By understanding the cultural essence that drives multicultural consumer behavior today, marketers and advertisers are getting a glimpse of future market trends and forging a long-term relationship with the most dynamic and fastest growing segment of the U.S. consumer economy.
With multicultural consumer spending in this country at $3.4 trillion, this "super consumer" group has tremendous impact on U.S. mainstream culture, according to a Nielsen report released earlier this year. The report, The Multicultural Edge: Rising Super Consumers, identifies multicultural consumers as the most dynamic and fasting growing segment of the U.S. consumer economy.
The report builds on Nielsen's previous series of reports on the attitudes and spending behaviors of African-American, Asian American and Hispanic consumers.
The report also identifies multicultural Super Consumers, which refer to the top 10% of households who drive at least 30% of sales, 40% of growth and 50% of profits of any consumer product category. The report suggests that by understanding the cultural essence that drives multicultural super consumer behavior today, marketers and advertisers can better understand future market trends.