Multicultural Millennials The Multiplier Impact

Decent Essays
Millennials born between 1980 and 2000 overtake Baby Boomers as America’s largest generation (Fry 2016). Specifically, there are about 75.4 million millennials according to the U.S Census Bureau of April 2016 (Fry 2016). Young immigrants are a positive influence in the growth of the millennial generation. With millennials beginning to reach their prime working and spending years, it will have a huge impact on the economy going forward. According to the Nielsen report, Multicultural Millennials: The Multiplier Effect, “Spending more than $65 billion each year and influencing upward of $1 trillion in total consumer spending, multicultural Millennials are bridging the gaps between their birth culture, their own children, and mainstream society” (Nielsen 2017). This millennial demographic is controlling the market with their high spending power. In addition, Courtney Jones, the Vice President of multicultural growth and strategy at Nielsen, stated, “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. 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” (Nielsen 2017). With the diversity there is amongst millennials, there is an opportunity for
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