Research
Top 2023 Multicultural & Inclusive Marketing Learnings to Bring into 2024 [REPORT]
As we welcome the new year, we at Santiago Solutions Group (SSG) have reflected on the accomplishments within our industry, the growing insights per consumer segment, and the technological advancements that have taken charge in our business landscape. There have been many unique learnings for all segments – through partnerships with brands and organizations, attendance at numerous industry-wide conferences, and more. Here are 6 key insights we’ve learned throughout the year 2023: Women of color, especially Latinas, drive spending and set new trends in the beauty industry where building brand trust and adapting to a more diverse audience becomes imperative.
US Multicultural Media Spend to Grow at Accelerated 8.3% to 45.8B in 2024, as Hispanic, African & Asian American Markets Benefit from Influx of Political & Sports Dollars
United States multicultural advertising and marketing spending, including Hispanic, African and Asian American markets, is expected to surge 8.4% to a record $45.83 billion in 2024, following decelerating growth of 5.7% in 2023 compared with the strong upswing in 2022, according to new research released today by PQ Media, the world's leading provider of media econometrics.
Census Bureau Projects U.S. and World Populations on New Year’s Day
As the nation prepares to ring in the new year, the U.S. Census Bureau today projected the U.S. population will be 335,893,238 at midnight EST, on Jan. 1, 2024. This represents an increase of 1,759,535 (0.53%) from Jan. 1, 2023, and 4,443,957 (1.34%) from Census Day (April 1) 2020.
2023 HMC – Hispanic Market Guide explores Inclusivity, Intersectionality, Trust, Bingeability in Entertainment, Media Consumption & More …. [DOWNLOAD REPORT HERE]
The Hispanic Marketing Council (HMC) has released its highly anticipated 2023 Hispanic Market Guide, the most comprehensive resource on the U.S. Hispanic market featuring top trends, business-building insights, up-to-date market data as well as in-depth reports on the proliferation of Hispanic-focused audio and the disruptive power of Hispanic creativity. Latinos are driving a cultural and demographic transformation as the U.S. heads towards a multicultural majority—already a reality for people under 35. With $2.8 trillion in Hispanic buying power, there are deep implications for marketers who must lead with cultural insights to create effective and relevant campaigns that connect with today’s multicultural mainstream. This new publication, geared towards newcomer and veteran brands alike, is available to view online or download for free.
Education Does Not Resolve Gender Wage Gap
Even among bachelor’s degree holders in the same field of study, women generally earned significantly less than men in 2022, according to new data released by the U.S. Census Bureau.
Wealth Surged in the Pandemic, but Debt Endures for Poorer Black and Hispanic Families [REPORT]
The economic downturn caused by the COVID-19 pandemic put the financial security of U.S. households at risk. The initial shock caused about 25 million workers to lose their jobs within three months, from February to April 2020, and it took about two years for the nation’s employment level to fully recover. Workers’ earnings also took a hit as consumer prices began to increase sharply in 2021.
The economic state of Latinos in America: Advancing financial growth
Financial-services revenues from Latinos may grow by up to $93 billion by 2030. To get more of that market, institutions would need to tailor their offerings.
Unwrapping the Top Five Multicultural Holiday Shopping Trends in 2023 [REPORT]
The 2023 holiday shopping season kicked off strong, with Adobe Analytics reporting a record $9.8 billion in Black Friday online sales, up 7.5% from 2022.Cyber Monday numbers were even stronger, with consumers spending $12.4 billion, a 9.6% increase over last year. So, what does this mean for December sales and the rest of the holiday shopping season? ThinkNow recently conducted a nationally representative quantitative survey of 1,500 consumers revealing insights into what Americans buy and spend for the holidays. From shopping habits to spending patterns, let's delve into the top five trends shaping the 2023 holiday shopping season.
Teens, Social Media and Technology 2023 [REPORT]
Despite negative headlines and growing concerns about social media’s impact on youth, teens continue to use these platforms at high rates – with some describing their social media use as “almost constant,” according to a new Pew Research Center survey of U.S. teens.
Attitudes on an Interconnected World [REPORT]
Exploring views about international engagement, travel and closeness to others around the globe
The Hispanic Financial Journey
Adsmovil, in collaboration with Publicis Media and ThinkNow, announced the findings from their latest research study: "Embrace the Collective: The Hispanic Financial Journey." This comprehensive study provides a fresh perspective on the financial behaviors of the Hispanic community as compared to the non-Hispanic market, offering invaluable insights across acculturation levels and age groups, including Millennials, Generation X, and Baby Boomers.
U.S. Poverty Rate Varies by Age Groups [REPORT]
The U.S. official poverty rate as measured by the American Community Survey (ACS), was 12.6% in 2022 but the rate was significantly different for the nation’s oldest and youngest populations, according to a Census Bureau report . The ACS shows that in 2022 the child (people under age 18) poverty rate was 16.3%, 3.7 percentage points higher than the overall rate. But the poverty rate among those age 65 and over was 10.9%, 1.6 percentage points lower than the overall rate. The poverty rate for those ages 18 to 64 was 11.7%.
Majority of Consumers Actively Avoid Ads Across Podcasts, Streaming, and Live TV Platforms [REPORT]
Nielsen released the Nielsen 2023 Consumer Survey Report. The survey, which polled 3,000 U.S.-based consumers earlier this year, uncovered consumers’ feelings about macroeconomic trends, their preferred platforms and channels, and sentiments around influencers, advertisements, and ad-avoidance. The study found that marketers are up against two major challenges when it comes to reaching and ultimately influencing audiences: the prevalence of ad-avoidance and the effects of inflation.
Here’s Why Multicultural Consumers Are More Concerned About Privacy Issues
Given their significant cultural and economic impact on the market, multicultural consumers are more likely to be concerned about their privacy than White consumers due, in part, to several factors, like discrimination, language barriers, and lack of awareness of consumer rights.
About 8.2 Million People Moved Between States in 2022
The number of people who moved between states rose from nearly 7.9 million people in 2021 to approximately 8.2 million people in 2022, according to newly released U.S. Census Bureau estimates.
Guidelines for AI Use [REPORT]
PR practitioners have a new resource to help them navigate the growing world of artificial intelligence (AI).
Winning Gen Z Hearts: 15 Tips to Rock Your Marketing
By 2025, 85 million U.S. customers will be in the gen Z age group, according to MarketSplash. Gen Zers, born between 1997 and 2012, is a generation that's reshaping the rules of engagement between brands and their audience. Born into a world of smartphones, social media, and instant connectivity, these digital natives approach shopping and brand interactions in unique and innovative ways.
Creating marketing impact with the Hispanic community
Diversity, equity and inclusion have been on the top of the agendas for business leaders from the CMO to the boardroom for quite some time, but 2023 was a watershed year of polarity and backlash. So, what are consumers actually thinking about these issues and what are their concerns as it relates to marketing? And what’s most important to Americans when it comes to DEI from business leaders and marketers?
Retail Principles for Artificial Intelligence [WHIEPAPER]
The National Retail Federation released its Principles for the Use of Artificial Intelligence in the Retail Sector to support the industry’s artificial intelligence (AI) governance and strategic planning. Developed through its Center for Digital Risk & Innovation, the principles encourage appropriate and effective governance of AI, promote consumer trust, and facilitate ongoing innovation and beneficial use of AI technologies.
Population Projections by Age, Sex, Nativity, and Hispanic Origin [INTERACTIVE CHARTS]
The analysis covers projected births, deaths and net international migration in addition to population size and composition by age, sex, race, Hispanic origin and nativity.
