If you live in the U.S., youre starting to hear more and more about the upcoming census. Even before we get data back from the country-wide headcount, we know that Americas demographic profile is undergoing major changes. By 2050, more than half of the U.S. population will be non-white (African-American, Asian, Hispanic). This dynamic growth represents not only significant cultural shifts, but also one of the more remarkable marketing opportunities in history. By that same 2050 milestone, the economic opportunity for brands in the multicultural CPG space is projected to exceed $500B.
Being able to keep pace with these increasingly diverse and demanding segments will require marketers to have a detailed view of what ethnic households buy as well as how they consumer media across TV, Internet and Mobile. When compared against the general population, minority households tend to over-index on some key shopping and media metrics.
Topline Multicultural Buying Insights
When compared to the general population, on average
Tend to spend more on categories for babies and children (Hispanic households represent 11.8% of CPG total spending, but 16.6% of disposable diaper sales.)
Tend to spend more in traditional mass merchandise and warehouse clubs
Tend to spend more on food consumed at home
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