Does your credit union know what matters to multicultural consumers?
Key findings from the 2018 What Matters Now research indicate that most multicultural consumers ranked considerably higher than whites in six key areas: optimism, hustle, living in the moment, worry, generosity and community spirit. These rankings show important differences in which financial products/services multicultural consumers buy – and how and why they buy them.
Why is it important to know what matters to multicultural consumers?
The multicultural consumer population is growing, they are spending faster than whites, and on top of that, they fall into the sweet spot for credit unions – middle income.
Here’s a fun fact: in each population segment, nearly half of consumers are actually middle income. Having a better understanding of the values, needs, and challenges driving the financial behavior of multicultural consumers will enable credit unions to better meet their needs. To learn more about how to better serve this segment, download the eBook.
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