Trends
Managing consumer and media inflation in 2023
As global price rises impact consumer spend and advertising costs, data and insight can optimise campaign planning and make budgets go further.
U.S. sports fans push pause on their daily routines to watch the 2022 World Cup
Among many things, the arrival of this year’s World Cup validated the immense draw of live sports on traditional TV. While the appeal of live sports is widely known, this year’s U.S. viewership illustrates that the allure is strong enough to entice many Americans to put their lives on hold to watch the action.
When inflation concerns persist for too long
Many economists—and the Federal Reserve—thought that the initial price rises in the middle of 2021 were “transitory.” More than a year later, inflation is still high, and concern appears to be widespread—the percentage of Americans concerned about rising prices for everyday purchases has failed to fall below 70% this past year.
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 projected the U.S. population will be 334,233,854 on Jan. 1, 2023. This represents an increase of 1,571,393 (0.47%) from New Year’s Day 2022, and 2,784,573 (0.84%) since Census Day (April 1) 2020. New Year's 2023.
2022 HMC HISPANIC MARKET GUIDE explores Hispanic Diversity, Cultural Blind Spots, Inclusive Advertising & Media Consumption [DOWNLOAD for FREE]
The Hispanic Marketing Council (HMC) has released its 2022 Hispanic Market Guide, the most comprehensive resource on the U.S. Hispanic market. Hispanics are impacting the multicultural mainstream at a faster pace than anticipated, shifting American culture and purchase behaviors. Brands who make continuous efforts to connect with the multicultural market are seeing results that demonstrate the economic power of Hispanics.
Florida Estimates Show Nation’s Third-Largest State Reaching Historic Milestone
After decades of rapid population increase, Florida now is the nation’s fastest-growing state for the first time since 1957, according to the U.S. Census Bureau’s Vintage 2022 population estimates.
Health Insurance by Race and Hispanic Origin
The U.S. Census Bureau released a brief on health insurance coverage and the rate of uninsured in the United States by race and Hispanic origin. The brief uses 2021 American Community Survey (ACS) 1-year estimates to describe how health care coverage — whether people have health insurance as well as the type of coverage they hold — varies across groups.
Growth in U.S. Population Shows Early Indication of Recovery Amid COVID-19 Pandemic
After a historically low rate of change between 2020 and 2021, the U.S. resident population increased by 0.4%, or 1,256,003, to 333,287,557 in 2022, according to the U.S. Census Bureau’s Vintage 2022 national and state population estimates and components of change.
Culturally focused Audio Ads drive relevance & favorability [REPORT]
MAGNA Media Trials, MAGNA’s proprietary research offering, and Identity, Mediabrands’ cultural consultancy arm, collaborated with SXM Media on a study, released, on multicultural audiences, including AAPI, Black/African American and Hispanic/Latino audiences. The study, titled “Challenging the ‘One & Done’ Approach,” reveals how critical it is for brands to invest in digital audio creative that culturally connects with multicultural audiences to drive growth. The study also highlights what levers brands should pull or avoid to connect with diverse audiences more authentically.
Beyond the Rainbow [REPORT]
Unite, WPP’s LGBTQ+ community launched Beyond the Rainbow, a new study into LGBTQ+ marketing and its future. The study surveyed 7,500 LGBTQ+ and non-LGBTQ+ people in the United States, United Kingdom, and Canada to better understand their perceptions and experiences of viewing LGBTQ+ identities in media and advertising. Beyond the Rainbow is intended to equip brands, advertisers, marketing communicators and others in the industry with actionable data and insights to help build a more inclusive future.
Multicultural Consumers Have Driven Home Improvements Despite Inflation
Multicultural (MC) segments are leading the growth in the Home Improvement category, despite the spike in the price of building materials. Multicultural segments account for 60% of the share of growth, with Hispanics accounting for 39%, Blacks for 9%, and Asians for 6% of the total growth of consumers making home improvements in 2022. The high share of growth among Hispanics, Blacks, and Asians is a strong indication that Multicultural segments refocused on their families during the pandemic by improving their homes. by Santiago Solutions Group
The future of Foodservice [REPORT]
With rising costs and a tricky economic climate ahead, what will the impact be on Foodservice going forward?
The Hispanic Healthcare Opportunity
MediaPost.com reported that according to the CDC, we are currently experiencing the worst flu season in over a decade. A new report from advertising intelligence company MediaRadar found that various over-the-counter (OTC) drug brands had increased their ad spend for cold and cough medicine in September and October by over 1000% to connect with consumers. By Roberto Orci
Nearly 68 Million People Spoke a Language Other Than English at Home in 2019
The number of people in the United States who spoke a language other than English at home nearly tripled from 23.1 million (about 1 in 10) in 1980 to 67.8 million (almost 1 in 5) in 2019, according to a recent U.S. Census Bureau report.
Inflation-weary Americans are increasingly pessimistic about the economy
High prices and low expectations: The job market still may be strong, but lingering economic conditions are taking a toll on the outlook of American households.
SPANISH BROADCASTING SYSTEM First-Ever Report Shows Added Value Of Investing In Hispanic-Owned and Targeted Radio [REPORT]
Spanish Broadcasting System, Inc. announced the release of a comprehensive report and marketer’s guide to investing in premium, Hispanic-owned and targeted audio content. Brands that consistently advertised on Hispanic-owned and Hispanic-targeted radio stations on between 2017-2021 showed an average return on advertising spend (ROAS) that was 12% higher than brands that did not invest.
Hispanic representation on both sides of the camera, drives bingeability and cultural watchability for Latinos and new audiences [REPORT]
Inclusion of Hispanic talent in front and behind the camera in streaming programs has a direct correlation on the bingeability and cultural watchability i.e. Hispanic share of the audience* of content for Latinos and all audiences, according to Nielsen's latest Diverse Intelligence Series (DIS) report: Latino Led Content and Viewers: The Building Blocks for Streaming Success.
Hollywood Diversity Report 2022 [REPORT]
The 2022 Hollywood Diversity Report: Part 1 examines relationships between diversity and the bottom line in a Hollywood context still distorted by the virus. It considers the top 200 theatrical and all major streaming, English-language film releases in 2021, ranked by global box office and total household ratings, in order to document the degree to which women and people of color are present in front of and behind the camera.
GDP Growth is Slower But Consumer Spending Remains Positive
Gross domestic product isn’t likely to grow as much in the final months of 2022 as it did in the third quarter, but consumer spending should remain strong even though its rapid pace is continuing to slow, National Retail Federation Chief Economist Jack Kleinhenz.
Meet the newest member of the consumer C-suite: The chief transformation officer
Consumer preferences continue to change, straining already tight margins and stranding companies that have not shifted effectively to digital and omnichannel. Supply chain problems and geopolitical turbulence are spurring regionalization, testing even the nimblest company’s ability to respond quickly. Meanwhile, persistent inflation and rising interest rates are increasing the cost of capital, forcing companies to restructure their balance sheets. Fears of a global downturn are growing; a recent survey of CEOs found that 81 percent expect a recession.
