One the unique characteristics of the youth market is their diverse ethnic and racial make-up. Simply put, this generation of young people is the most culturally and ethnically diverse in history. Nationally, Asian Americans represent only about 4.5% of the population compared to about 10% of the youth population while Latinos represent 15% of the national population and about 19% of the youth population. It's taken some time but with pervasive communications technologies, first and second generation tweens, teens and college aged kids are introducing some of their culture-specific elements to their group of friends. To date, the categories of influence included mostly music and entertainment. Illustrations would include the reggaeton music genre and manga comics. Over the next few years we anticipate a "ramp up" of influence against a wider net of product categories ranging from food and beverage tastes to the retail and shopping categories. Music and entertainment is just the start. Moving forward, we will refer to this lifestyle paradigm shift as multicultural trend currency.
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