The ethnic composition of the American marketplace is changing. Today, nearly one-third of the U.S. population is represented by Hispanics, Asian-Americans and African-Americans, and these groups are projected to account for half of the American market by 2040. Retailers who compete effectively for these customers will be in a position to profit from this growth.
The grocery industry still has a long way to go in terms of ethnic merchandising. The present challenge for food retailers is to build flexibility into their organizations to respond to consumers on a local level, and in turn become more market-driven in an increasingly diverse space. Read the North America Council report on this market research below to learn how to enhance customer experience in your store through diversified marketing.