Millennials Outnumber Baby Boomers and Are Far More Diverse [INSIGHT]
Millennials, or America’s youth born between 1982 and 2000, now number 83.1 million and represent more than one quarter of the nation’s population. Their size exceeds that of the 75.4 million baby boomers, according to new U.S. Census Bureau estimates. Overall, millennials are more diverse than the generations that preceded them, with 44.2 percent being part of a minority race or ethnic group (that is, a group other than non-Hispanic, single-race white).
U.S. Hispanic Population is Growing More SlowlyThe U.S. Hispanic population has been a key driver of the country’s population growth since at least 2000. But the group’s growth has slowed in recent years, and that trend continued in 2014, as evidenced by new figures released by the U.S. Census Bureau.
The ANA seeks a third-party organization that can dig deep with agencies, marketers, media organizations, suppliers, and vendors. It is the ANA’s belief that the industry requires an independent, objective individual or organization to provide indisputable marketplace clarity and to help set the record straight.
The Interactive Advertising Bureau (IAB) released “Madison Avenue Meets Silicon Valley and Silicon Alley: Building Collaboration Between Creativity and Technology,” a whitepaper that crystallizes insights and advice that emerged during high-level, West and East Coast IAB summits. They brought some of the biggest names in the technology, publishing, agency, venture capital and marketing communities together to discuss and debate how best to bridge the gap between creativity and technology in order to build better, more sustainable consumer advertising experiences.
But what about today’s Hispanics? Will they go the way of prior immigrants and amalgamate into the category of “white,” “black” or “Asian?” By David Morse / New America Dimensions
Federal policy defines “Hispanic” not as a race, but as an ethnicity. And it prescribes that Hispanics can in fact be of any race. But these census findings suggest that standard U.S. racial categories might either be confusing or not provide relevant options for Hispanics to describe their racial identity. By Ana Gonzalez-Barrera and Mark Hugo Lopez
Dr. Robert Heath is a professor at the University of Bath and a pioneer in establishing the value of emotion in advertising. His research includes the development of the Low Attention Processing Model of advertising, as well as an advertising research system known as the CEP® (Cognitive Emotive Power Test), which analyzes Information and Emotive Power. Nielsen is collaborating with Dr. Heath to incorporate CEP into its new TV Brand Effect module, Creative Evaluation. Creative Evaluation will allow marketers to measure how consumers are connecting with their ad compared to competitor ads and across key demographics.
As America becomes more racially diverse and social taboos against interracial marriage fade, a new Pew Research Center survey finds that majorities of multiracial adults are proud of their mixed-race background (60%) and feel their racial heritage has made them more open to other cultures (59%).
Changes to the American demographic landscape is absolutely changing the way corporations market to consumers, overall. This new demographic reality has profound implications on a number of business disciplines, especially market research. David Burgos, Senior Vice President at TNS recently published a paper titled, Total Market: Driving Strategy in a Multicultural Nation, in a Multicultural Marketing Special Issue in the Journal of Brand Strategy, published by Henry Stewart Publications. This Special Issue, in addition to The Journal in Cultural Marketing Strategy soon to be published in 2015, were conceived by Jake Beniflah.
The top 500 U.S. marketers are allocating about 8.4 percent of their overall ad spend to Hispanic dedicated efforts, this is up from 5.5 percent in 2010, according to a new report from AHAA: the voice of Hispanic marketing. Over the past five years, the top 500 advertisers boosted their spending in Hispanic targeted media by 63 percent or $2.7 billion from $4.3 billion in 2010 to $7.1 billion. The top 500 advertisers boosted their average spending from $9 million in Hispanic targeted media in 2010 to $14 million now.
AHAA: The Voice of Hispanic Marketing announced today that Toyota Motor Sales, U.S.A., Inc. was selected as the 2015 winner of the AHAA Marketer of the Year Award. It joins a prestigious short list of elite brands that have received the award, including Walmart and McDonald’s.
From 2000 to 2013, 78 counties in 19 states, from California to Kansas to North Carolina, flipped from majority white to counties where no single racial or ethnic group is a majority, according to a new Pew Research Center analysis of Census Bureau data. (Our analysis includes only counties with a minimum population of 10,000 in 2013.)
The roles of the CMO and CIO are changing, and those organizations with the most mature collaborations tend to be the most successful in driving the performance of their teams and the growth of customer-focused initiatives, according to Deloitte Digital’s “CMO Quarterly Study: The CMO-CIO Relationship.”
With the buying power of the U.S. Hispanic market now eclipsing $1 trillion annually, marketers are more focused than ever on attracting this lucrative segment to their brands. But understanding the “how” in consumer spending is just as important as the “how much.” As the number of payment options available increases, the connection between purchase and payment has far-reaching implications: from how marketing should be planned, to how products are distributed, and even how sales are forecasted and measured.
A survey of 750 U.S. consumers and a separate analysis of how U.S. retailers operate across multiple sales channels indicate that, in order to win consumer loyalty and achieve growth across all channels, retailers must enhance their mobile commerce offerings and improve the in-store shopping experience. Only 42 percent of shoppers found it easy to complete a purchase using a mobile device, and when asked which aspect of the shopping experience is most in need of an upgrade, 39 percent ranked the physical store first, showing that retailers have not made much progress in these categories since last year’s survey.
The survey, completed this March, revealed that 70 percent of respondents considered their blog their business, with 41 percent being solely accountable for all aspects of the blog’s production and amplification, including content creation, editorial posts and social media sharing.
Total advertising expenditures increased 0.7 percent in 2014 and finished the year at $141.2 billion, according to data released by Kantar Media, the leading provider of strategic advertising and marketing information. Ad spending during the fourth quarter of 2014 decreased 1.6 percent versus the year ago period.
Multicultural consumers are transforming the U.S. mainstream. Propelled by the twin engines of population growth and expanding buying power, they are at the leading edge of converging demographic and social trends that are reshaping how marketers and advertisers use culture to connect with increasingly diverse customers. By understanding the cultural essence that drives multicultural consumer behavior today, marketers and advertisers are getting a glimpse of future market trends and forging a long-term relationship with the most dynamic and fastest growing segment of the U.S. consumer economy.
Co-sponsored by California State University, the National Association of Hispanic Journalists, Florida International University and Hispanicize Wire, the second annual survey sought to gauge the perceptions of Latino journalists amid the current media landscape.
A new U.S. Census Bureau report released provides an in-depth analysis of the nation’s population looking forward to 2060, including its size and composition across age, sex, race, Hispanic origin and nativity. These projections are the first to incorporate separate projections of fertility for native- and foreign-born women, permitting the Census Bureau to better account for the effects of international migration on the U.S. population.
