Gallery: Multicultural consumers present significant sales opportunity

Asian Americans, African Americans and Latinos possess close to $3 trillion in spending power, but a portion of it remains untapped by marketers who fail to understand what motivates these consumers, said panelists during the Nielsen webinar “Demystifying Multicultural Consumers.”

“The multicultural population is evolving very rapidly,” said James Russo, SVP of global consumer insights for Nielsen. “It’s young, it’s more educated than ever, embracing culture, making money, adopting new technology, becoming more socially connected and expanding geographically.”

Read related story: Marketers should address cultural nuances 

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