Pleasing Multicultural Consumers’ Palates Can Drive Growth for Alcoholic Beverages
Over 120 million strong in the U.S., multicultural Americans are a large, young and growing segment. And similar to the Millennial demographic, of which they comprise 40{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}, they’re a key group for the alcoholic beverage market.
Sales of beer, wine, and spirit are trending up, and multicultural consumers of legal drinking age (LDA) are a key force behind this growth. In the last year, penetration of alcoholic beverages ticked up for Asian-Americans and Hispanics. Additionally, estimated expenditures for both African-Americans and Asian-Americans in the alcoholic beverage space (+6.6{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} and +10.2{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}, respectively) eclipse the category rate (+3.7{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}) by several points.
So what are these diverse consumer groups looking for in the alcoholic beverage aisle? Nielsen – Read more…
Sales of beer, wine, and spirit are trending up, and multicultural consumers of legal drinking age (LDA) are a key force behind this growth. In the last year, penetration of alcoholic beverages ticked up for Asian-Americans and Hispanics. Additionally, estimated expenditures for both African-Americans and Asian-Americans in the alcoholic beverage space (+6.6{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea} and +10.2{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}, respectively) eclipse the category rate (+3.7{845d44a2f09c0018d802e19e78941a85dc2180e4ed7410cee0b34e8cb134ecea}) by several points.
So what are these diverse consumer groups looking for in the alcoholic beverage aisle? Nielsen – Read more…
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