Multicultural Consumers are Private-Label Growth Drivers
Over 120 million strong in the U.S., multicultural Americans make up a large, young and growing segment. In fact, 24% of households in the U.S. are considered multicultural, and the growth shows no signs of slowing down. By 2020, Nielsen expects the Hispanic population in the U.S. to grow by 6.8 million, complemented by an additional 2.3 million Asian-Americans and 1.8 million African-Americans.