Dive Brief:

• In the U.S. in 2013, spending by Hispanics, African-Americans, and Asian-American consumers added up to about $2.9 trillion, according to a seminar by consumer research company Nielsen. 

• That number is equivalent to the gross domestic product of Germany, which is the world’s fourth-largest economy. Yet these groups are often neglected by retail marketers, according to Nielsen.

• Each set of consumers brings unique cultural outlooks and preferences that can confound marketers, who nevertheless should be making stronger efforts to appeal to these highly influential consumers, according to Nielsen experts who presented the seminar entitled “Demystifying Multicultural Consumers.”

Dive Insight:

While politicians quibble about how to handle immigration policy, retailers have great reasons to embrace immigrants and African-Americans in this country, whose numbers and influence on American culture are growing. Otherwise, retailers are leaving good money and opportunities for growth on the table.