Ties that bind
Lynn Russo Whylly
A recent study by Diversity Affluence, a marketing and business development consultancy in Hamburg, N.J., found that affluent ethnic consumers wield $110 million in purchasing power. As a greater number of minorities become affluent, multicultural markets throughout the U.S. are expected to grow in economic muscle. “Today, we're in Multicultural 2.0,” says Larry Moskowitz, vice president of integrated marketing and business development at New York–based Global Advertising Strategies. “Minorities are the majority in one-third of the most populous counties and the top 10 [designated market areas] in America. If you're still wondering whether or...