Early in the digital era, Hispanics lagged significantly in internet access, but that’s changed mainly due to smartphone adoption. These days, Hispanics are avid users of social media and digital video—though they do lag behind in having home broadband.
“Half my advertising spend is wasted; the trouble is, I don’t know which half.” This quote is regularly attributed to either U.S. retail magnate John Wanamaker or to UK industrialist Lord Leverhulme, depending on which side of the Atlantic you were trained. The quote has become a cliché for the uncertainty about the effectiveness (or ineffectiveness) of advertising.
The U.S. Multicultural Media Forecast 2019 is a new study conducted by PQ Media on behalf of ANA’s Alliance for Inclusive and Multicultural Marketing (AIMM) that identifies a clear opportunity for more marketers to engage multicultural consumers to drive business growth. The following provides ten interesting insights from the study. By Bill Duggan
As the summer movie season winds to a close, and the conversation around immigration continues to simmer, one place where audiences won’t find the Latino community is in popular films, according to a new study.
The consumer packaged goods (CPG) industry spends billions of dollars on traditional advertising such as TV, out-of-home (OOH) and print. But digital advertising is changing the way CPG brands market their products.
Currently, more than 64 million Hispanics live in the United States, making this group the second fastest-growing population segment since 2000, with 83% growth.
In the latest edition of its annual report, the Selig Center for Economic Growth at the University of Georgia’s business school pegged total buying power of the US Hispanic population at $1.539 trillion in 2018. Having added more than $500 billion since 2010, this figure is expected to grow nearly $400 billion more by 2023.
America is responsible for nearly half (48%) of the world’s advertising spending. This is followed the closest by measured nations in Europe, which represent 30% of ad spending. Together, these two regions account for nearly 80% of Nielsen-estimated global advertising budget and are driving the most annual growth in these investments. You’d expect this wide reach to result in consumers addicted to the new products that surround them. But interestingly enough, compared to the rest of the world, consumers in these two regions are the least open to trying new things.
In this report, you will find an in-depth look at Hispanic-owned small businesses – where they are located, who owns them, and what and how they like to buy.
The average tenure for chief marketing officers of leading U.S. consumer brand companies decreased to 43 months from 44 months, according to the 15th annual CMO tenure study by leadership consulting firm Spencer Stuart.
The U.S. Census Bureau released new tables from the 2017 and 2018 Current Population Survey.
Social media isn’t a stagnant thing – it continuously evolves, as does the way users engage with it. The only way to reach these users efficiently is to stay on top of the latest insights into social platforms and allow them to inform your strategies.
Three of the first four businesses on STORES Magazine’s Hot 100 Retailers list are supermarket chains ultimately owned by foreign-based companies. At the top of the chart is Lidl, part of Lidl Siftung & Co., based in Neckarsulm, Germany. In the No. 3 slot is Grupo Comercial Chadraui, Mexico’s third-largest retailer whose stores in the United States operate under the El Super banner. Right behind at No. 4 is Don Quijote, Japan’s largest discounter, which bought the Hawaiian chain Time Supermarkets two years ago.
We’ve heard it before: Don’t treat your agencies as mere vendors, unless, of course, a commodity is what you are seeking. But the label “vendors” shouldn’t be such a dirty word. In principle, “vendors” are delivering services that have reasonable commercial value and getting paid for them. The real issue is in such a competitive environment, relying on a “vendor” or transactional type of relationship to fuel your growth won’t cut it anymore.
It’s increasingly clear that societal fragmentation is at least partly driven by fragmentation in personal identity. The acceleration of lifestage fluidity, the rising multiracial population, the expanding gender spectrum, and a plethora of other identity markers intersect uniquely for everyone. The emergence of microculturalism is a major test for businesses seeking to understand, reach, and accurately depict consumers.
In the U.S. today, Latinx consumers are melding the physical and digital worlds to create personalized, culturally relevant shopping experiences on their own terms. These consumers’ paths-to-purchase, or consumer journeys, are social and circular. Purchase decisions can be frequently traced to the recommendation of a friend, family member or consumer review website. And, because Latinx consumers are so digitally connected—97% of Latinx households own a smartphone, and Latinx consumers spend over 27 weekly hours using apps and the web on smartphones—the consumer journey plays out in real-time. Brands that are not attuned to Latinx values and habits stand to miss out on this powerful market, which is reshaping the U.S. mainstream.
Multicultural consumers comprise almost 40 percent of the total U.S. population, yet multicultural media investments make up only 5.2 percent of total advertising and marketing spending, according to a new study.
When I sit down with marketers who claim their multicultural marketing efforts didn’t work, I try to dissect the underlying reasons of this potential failure and curious enough, most marketers don’t even know these reasons themselves. In this article, I am focusing on my experience comparing what separates successful from unsuccessful multicultural marketing programs. By Isaac Mizrahi – CCo-President of ALMA
The Puerto Rico Association of Advertising Agencies suspended the membership of KOI advertising agency due to its president’s participation in the controversial chat messages that have rocked the administration of Gov. Ricardo Rosselló Nevares.
Though it’s been available for last several years, influencer marketing has shot to the top of the marketing stack for a growing number of savvy brands, especially those in the fashion, beauty, gaming, and lifestyle sectors that are looking to lend more authenticity when they engage their audiences.
