(jckonline.com) - Asian-American and Hispanic millennials are a growing force in the luxury goods market, though jewelers have been slow to recognize the increasing importance of this demographic, according to a new report by MVI Marketing. We started realizing about six months ago that this is the biggest shopping bloc within luxury goods for most American brands,” says MVI Marketing CEO Marty Hurwitz. “These consumers are living in our most expensive cities, they are attending top universities, they are buying premium real estate. Some luxury brands are not aware of this demographic. Most jewelry brands are not. Yet this is the growth demographic for luxury goods.”
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