Ethnic consumers represent strong potential
New York - Ethnic consumers represent strong potential for retailers, according to new data released by the Nielsen Company. For example, the 43 million African-Americans in the U.S. (about 14% of the population) buy more hand and body lotion products than the average consumer.
And the nation’s 52 million Latinos (close to 20% of the population) are the fastest-growing segment of the U.S. population and will have $1.5 trillion in purchasing power by 2015. These groups are also much younger than the general U.S. population (54% of African-Americans and 75% of Latinos are under the age of 35).