December 15, 2018

ThinkNow released its ThinkNow Snapshot: 2018 Total Market Markers + Milestones, identifying the top trends that shaped multicultural research. Milestones range from shaky consumer sentiment to the proliferation of mobile shopping and from the rise of stream-ing services to the new multicultural mainstream consumer. The top multicultural market-ing trends this year include the following:

Mobile Shopping Gains Traction

Consumers are more likely to browse for holiday gift ideas online than in-person. Ninety percent of American adults own a smartphone and more than half own a tablet. Most shoppers purchasing online this year will use their smartphone to make purchases—especially Hispanics and African-Americans.

Younger Consumers Power Mobile Apps

Mobile device owners average nearly 30 total apps across devices and download new mobile apps at least once a month. Teens and Millennials are most active in terms of downloading and deleting mobile apps. Gen X is more likely than other age groups to use banking/finance apps. Consumers across all segments use their apps an average of eight times per day with peak times between 6pm – 9pm.

Rise of the New Mainstream Consumer

By 2044, the U.S. becomes a multicultural majority with 50% or more representing His-panic, African-American or Asian populations. The Multicultural Digital Report in partner-ship with The Center for Multicultural Science and MAGNA, revealed for the first time using ThinkNow ConneKt, digital advertising spend by ethnicity and race to inform mar-keters to keep pace with changing multicultural populations.

ThinkNow 2019 Marketing Predictions

  • Consumer sentiment slides downward among multicultural consumers. Hispanic and African-American consumers were most affected by the political climate and eco-nomic tension in 2018. As wages among Hispanic and African-Americans stagnant and political upheaval continues—we will see a further dip in consumer sentiment among these key demographics leading to a slowdown in their purchasing behavior in 2019.  
  • Walmart goes mobile and beats Amazon. Walmart has been laser focused on im-proving their mobile and online shopping experience attracting more Hispanic and African-American consumers. Walmart’s investment in a “mobile first” marketing strategy will give them a clear advantage in 2019 beating out Amazon among mul-ticultural consumers.  
  • Cord-cutting accelerates but cable makes a comeback. As content continues to become more fragmented, consumers are searching for the variety cable provided. Internet TV streaming services will fill the gap and provide access to all major net-works without the cord or the major bill. This trend will accelerate in 2019 as streaming services attract multicultural consumers.

To download report, CLICK HERE.


 

 

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