Marketing
Consumers to Spend Nearly $900 to Celebrate the Winter Holidays
Those celebrating the winter holidays expect to spend $875 on average on gifts, decorations, food and other key seasonal items, according to the National Retail Federation’s latest consumer survey conducted by Prosper Insights & Analytics. The amount is $42 more than consumers planned to spend in 2022 and is in line with the average holiday budget over the last five years.
On Trust. The Future Does Not Fit in the Containers of the Past.
A case can be made that today the most important asset is that of trust. While a Brand seeks attention its goal is to become a trust mark. By Rishad Tobaccowala - the Chief Growth Officer at Publicis Groupe
The 5 Best Practices in Hispanic Marketing
Any smart, modern marketer knows there is no question that the U.S. Hispanic population continues to grow and evolve rapidly. Some even realize that this consumer segment is the primary growth driver for their categories and brands. In fact, according to a recent report from UCLA Center for the Study of Latino Health and Culture, if the U.S. Latino population were its own country, the GDP would be the world's fifth largest, outpacing even the United Kingdom, France, and India. What's more, out of the world's top 10 largest GDPs, U.S. Latino GDP would be the second-fastest growing from 2020 to 2021, second only to China.
Why Brands Should Unlock the Hispanic Pet Market for Growth
The pet industry is booming, with a significant contribution from Hispanic pet owners. Here's a condensed look at why brands should focus on this market to drive growth
Latino and Latinx/e: Finding a Solution for a Challenge That Is Dividing Our Community
There are many studies that show that the number of people within the LATINO/HISPANIC community who use the term "Latinx/e" is less than 5%. Yet, I've seen articles asking the community to accept the term, while the community has expressed it LOUD AND CLEAR that it's not happening. Marketers know that IF YOU DON'T KNOW or UNDERSTAND your target audience, it's over. Using the term LATINX/E for the Latino community is the same thing. While many are trying to make it STICK, my recommendation to ALL MARKETERS is to stay away from the term until the COMMUNITY agrees on how this term should be used, not the 5%. By Luis Solís
Why Radio Can’t Afford To Ignore The Multicultural Majority
This week, the Hispanic Marketing Council unveiled It’s Time: The Growing Power of the Multicultural Majority. This research reveals that non-Hispanic whites (NHW) between the ages of 13 and 49 are now more influenced by Hispanic, Black, and Asian cultures than ever before. This pivotal shift has important implications for radio, audio, and audio advertising industries as they navigate an increasingly multicultural audience. Courtesy of Radio Ink
Fandoms: The Next
The concept of fandom is not new. People have always been passionate about the things they love, whether it's a sports team, a TV show, or an artist. However, in recent years, fandom has become more than just a community of enthusiasts. It has proven to be a powerful economic force that brands are leveraging to drive sales and grow their businesses.
Transparency Gaps Are Leaving the Door Open to Bad Actors
While fraud still complicates the programmatic landscape, marketers armed with the right questions can navigate their way through
Latina on a mission to save bodegas
Bodega Makeover brings stories of vibrant characters, communities, and intersecting cultures to the well-loved makeover format. We’re traveling from city to city to help families reimagine their bodegas, corner shops, and groceries to re-energize their neighborhoods through uplifting transformations.
ANA announces 2023 Multicultural Excellence Award Winners
Now in their 23nd year, the awards recognize client-side marketers and their agency or media partners who produced multicultural and inclusive advertising campaigns between June 2022 and June 2023. The winners of this year’s competition, open to both ANA members and nonmembers, were announced last night during a dinner celebration at the annual ANA Multicultural Marketing & Diversity Conference in Las Vegas.
Is Hispanic Advertising Now Victim of a Wolf in Sheep’s Clothing?
Over the last month, data and research reports have validated the ongoing momentum of several trends about the U.S. Hispanic consumer audience. The common take-away? This segment continues to be the primary growth-driver across many business verticals, categories and brands. Perhaps most profound and compelling, a recent report from the UCLA Center for the Study of Latino Health and Culture: If the U.S. Latino population were its own country, the GDP would be the world’s fifth largest, outpacing even the United Kingdom, France, and India. What’s more, out of the world’s top 10 largest GDPs, the U.S. Latino GDP would be the second-fastest growing from 2020 to 2021, second only to China. Additionally, the latest Claritas Hispanic Market report shows Latinos are adding 4,021 people per day to the U.S. population, offsetting population daily declines in the non-Hispanic White segment (-2,340) and far outpacing the gains in African American/Black and Asian/Pacific Islander segments, at 918 and 828 added per day, respectively. In short, the Latino purchasing power and consumerism is showing no signs of plateauing, let alone declining. By Louis Maldonado
How Fintech is Changing the Way Gen Z Manages Money [PODCAST]
In this episode of The New Mainstream podcast, Lilah Raynor, CEO of Logica Research, explores the money management habits of Gen Z and Millennials and sheds light on AI's impact on financial services.
Why Cultural Competence Is Critical In The Age of Multicultural Data
Cultural competence is the ability to understand, appreciate, and interact with people from cultural backgrounds, values, and beliefs different from one’s own. While necessary for companies and brands aspiring to reach and engage multicultural audiences meaningfully, cultural competence is essential for programmatic media buyers who rely on data-driven strategies to target their ads.
People Believe Sustainability is Important, but Perceive Cost and Convenience Barriers [REPORT]
MAGNA, the investment and intelligence arm of IPG Mediabrands, today announced the release of a study conducted in partnership with Teads, the global media platform, and Project Drawdown, a nonprofit focused on climate solutions, entitled Sustainability Speaks: Breaking the Barrier of Climate Communication via the MAGNA Media Trials program.
Multicultural Marketing Excellence Doesn’t Just Happen
Multiculturals are Fortune 500 companies target sweet spot and the core growth customer to futureproof their business given the majority of consumers under 45 are Multicultural or Multi-racial, rising to 48% of the total population over next decade, and their prime earning years. They lead 100% of population, job and HH growth, drive digital and pop culture trends, and decide which brands win. Multiculturals are THE business imperative. By Liz Castells-Heard, CEO & Chief Strategy Officer, INFUSION by Castells
Hispanic? Latino? How the language of identity is shifting over time
Hispanic Heritage Month celebrates a U.S. population of 64 million that’s diverse, growing and constantly changing. But can a single term like Hispanic or Latino describe a group with such varied ancestry and geographic origin? Mark Hugo Lopez from the Pew Research Center and Cristina Mora from UC Berkeley’s Department of Sociology join John Yang to discuss.
Nurturing trust: Engaging with Hispanic audiences in a diverse media landscape
With an ever-expanding media landscape, audience preferences are pivotal. Creators and distributors want to engage audiences, and brands seek relevant content opportunities where their messages can truly resonate. Any meaningful engagement with audiences requires a deep understanding of people, but building meaningful relationships with Hispanic audiences can be more complex.
For US consumers, it’s a matter of ‘and’—not ‘or’
Across the country, consumers’ spending habits are evolving—and, in some cases, going in opposite directions at the same time.
R.I.P. GENERAL MARKET: THE MAINSTREAM LEADS WITH CULTURE
In the latter half of the 20th century, a theory emerged—and is still promoted today—that the cultural orientations of Hispanic and Asian immigrants and their descendants would diminish as they “became more acculturated.” A new study by the Hispanic Marketing Council (HMC) shows the opposite is true: non-Hispanic white (NHW) 13-to-49-year-olds have been more influenced by Hispanic, Black and Asian cultures. With the multicultural majority already a reality for Americans under 25 & estimated for all people under 35 by the end of this year, it is safe to say that the construct of a white American “general market” is dead, upending long-held marketing paradigms centered around an increasingly non-existent NHW majority.
The Significance of Cultural Relevance: The Spark That Ignites Brand Loyalty
In an age where each customer is evolving into a 'Segment of One,' brands must pivot from simplistic translations and stereotypical portrayals. The Hispanic culture, with its rich tapestry, should be seen as an asset from which to draw from, not a challenge to avoid. Gone are the days when brands could adopt a laissez-faire attitude. A mere linguistic translation falls short of capturing the essence of culture, values, or identities. By Daniel Sokol - EVP, Digital Solutions / eContent Digital
