Why Multicultural Marketing is a Need of Our Times
The ever increasing consumer market in the United States and the burgeoning consumerism in the country have indicated certain repetitive trends.
38 percent of the population in the United States is from a multicultural background. This can include groups which belong to any number of racial, ethnic, religious group or even people with disabilities or varying sexual orientation.
The consumer market is increasing in diversity and number and brands and companies like Netflix, McDonalds, Toyota, Cheerios and Coca Cola and many more are catching on to the importance of employing these strategies to stay relevant.
The emphasis is on establishing real connections with more inclusive branding, marketing and advertising across all communication channels.
Multicultural consumers are also avid buyers
Participation of diverse communities in the expanding economy as both, consumers and generators of income, points to a very clear direction for marketing directors to head on.
Multicultural marketing has become a necessity of the times we live in and no longer remains a niche. There has been a general increase in consumer spending and a vast majority is by the multicultural segment.
According to Forbes, people from the Hispanic community in the United States have the purchasing power of $1.7 trillion, and this is expected to grow in the years to follow. Different ethnic groups have different purchasing power and companies need to strive to understand their needs better.
Multicultural audiences also happen to be largely made of the millennial population. These younger consumers are growing and evolving in a rapidly changing world.
Since they are growing in the digital age, there is generally more awareness and acceptance of the reality of diversity amongst them.
Information is more accessible to them through many digital mediums and social media platforms. They don’t shy away from embracing their cultural heritage, and culture as a choice is a widely held notion.
Multicultural marketing, when done right, thrives on being more inclusive and selling the authentic self.
Change in values and need for tolerance
The cultural make up of a society can change and simultaneously transform the values of a shared community. In the current political climate, diversity of the community has become a central discussion. It has also made it all the more urgent for brands to embrace the inclusivity of its consumers and reach out to communities to make them feel heard.
About Go Diversity
We pride ourselves with the best talent in the industry of multicultural marketing and advertising. We believe in tapping into the market to effectively seize the opportunity of branching out. Contact us for more information.
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