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Upwardly Mobile Immigrants Drive Luxury Market
The forward-facing immigrant (FFI) has become a force to be reckoned with when it comes to marketing and merchandising luxury goods and experiences. This demographic segment is sophisticated, discerning and rapidly growing into a significant segment of the American luxury consumer population, says MVI Marketing.
A consumer study among wealthy, millennial age Asian-Americans and Hispanic/Latino-Americans found that while most conduct research online, their shopping preferences differ among product types. Luxury travel and spa experiences are most likely to be purchased by mobile device, but other areas such as fashion and jewelry still require the in-store, in-person experience.
“Despite the ongoing Trump bombast, the new luxury market is clearly being driven by the growing wealth and upward mobility of immigrant consumers,” said MVI president Liz Chatelain. “Brands hoping to reach the FFI luxury consumer segment must embrace their uniqueness, and recognize the achievements of their families in the USA.”
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- ◦Economy
