Marketing

Brands need to be more agile than ever, as consumer behavior keeps shifting amid the pandemic

Product development and innovation in the consumer-goods industry has never been easy. The involvement of many stakeholders creates a multitude of opportunities for even the most promising innovations to go off track. And competing priorities can cause organizations to lose sight of the initial product and business goals.

Brands need to be more agile than ever, as consumer behavior keeps shifting amid the pandemic

Multicultural audiences are significantly driving mainstream identity and influencing emerging trends. According to UM’s Annual Cultural Dimension study, two out of five general population consumers indicate being influenced by Latino, Black, and Asian segments when it comes to passion points like music, fashion, hair care, food, sports, and more.

As the COVID-19 pandemic extends beyond seven months, the year-end holidays are next in line for disruption.

Multicultural consumers are poised to become the majority in the next twenty years. One of the largest demographics in the multicultural ecosystem is U.S. Hispanics, who account for about half the population growth in the country. With slowing immigration, most of that growth is supported by U.S. births. The burgeoning numbers are driving a  1.2 trillion dollar  Hispanic/Latino consumer market, making them an attractive target for companies and brands.

With the pandemic adding uncertainty for marketers, it’s more important than ever to understand the media landscape. Findings from Kantar’s inaugural Media Reactions 2020 study reveal that marketers lack the understanding and the data they think they need. Nearly half of marketers (48%) — a growing proportion — feel that they don’t have all the data they need to make decisions in their roles. The research also finds that two-thirds are worried about the future and think that an inability to track digital media via cookies will dramatically disrupt the industry — a situation that could further impede marketers’ ability to monitor advertising effectiveness.

Geoff Ramsey of eMarketer discusses COVID-19’s effects on the industry, e-commerce, and mobile advertising

inZa Lab announced the release of its 2020 Gen Z Consumer Insights Report: How Gen Z Confronts Uncertainty. The report provides an in-depth look at how Generation Z (born between 1996-2010) has changed amidst the political, environmental, economic, and social turmoil of the past year.

The Center for Hispanic Marketing Communication (HMC) has announced a partnership with Farmer-to-Farmer Colombia and Fundación SalvaTerra to help support smallholder farmers in Colombia that are transitioning out of the informal economy, forming cooperatives to grow and taking advantage of economies of scale, while expanding their range of buyers.

From search to content consumption, purchase to advocacy, Hispanic consumers take a unique collective approach to e-commerce. The ethos of this collectivist culture greatly influences brand experience and purchasing behavior.

Business leaders and consumers have adapted after the initial shock of the widespread lockdown that followed the outbreak of the COVID-19 pandemic. Demand patterns have started to normalize, supply chains are largely stable, and shelter-in-place orders are being lifted and replaced by physical distancing across the United States.

Influencer marketing can be an effective way to boost brand awareness and exposure, and reach highly targeted groups that will likely be interested in your brand. And that’s particularly relevant among younger audiences – according to research, 70% of teens now trust influencers more than they do traditional celebrities.

Ocean Spray Cranberries, Inc. unveils its first ever national Hispanic marketing campaign “Sabor Único. Bueno Para Todos™,” highlighting the brand’s commitment to connecting farms to families and introducing the cranberry superfruit to new audiences

When the COVID-19 pandemic upended our notions of normality, it forced us to reexamine the path forward. We found new ways to interact as social distancing quickly became a necessity. Companies redesigned jobs so people could safely and productively work from home. And, almost overnight, milestones as joyous as birthdays and interactions as consequential as mental health sessions were moved to video conferencing.2 As things unfolded, a reckoning of systemic racism also came to a head, compelling businesses, institutions, and individuals to reflect on our values and what it means to be human.

As the pandemic forces consumers to spend more time online, brands must adopt a digital, data-driven approach

In 2020, 77% of people say wellness is very or extremely important to them. Yet, consumers are still hungry for more: Hungry for more wellness—80% of people want to improve their wellness; Hungry and expecting—75% feel brands could do more for their wellness; Hungry and frustrated—only 46% feel that brands take their wellness as a priority.

Advertisers are realizing anew that where their ad appears is just as important as what the ad says.

There’s been a great deal of media coverage in the advertising industry of a recent report from the World Federation of Advertisers (WFA) and The Observatory International. With good reason, because in many ways, it doesn’t bode well for external agencies.  By Mark Duval – The Duval Partnership

The next phase of the data game is upon us. Winning will require a new playbook.