The American demographic has changed drastically over the past few decades. Minorities have become an integral part of the nation’s fabric. Hispanics have surpassed the African American population and the Asian demographic is rapidly growing. Marketers have to take all of these considerations into mind when crafting a marketing plan. We are familiar with tailoring messages to certain age groups and gender but race now has to be a key factor. Minority groups are spending record amount of money on products. Check out the graphs below to see the spending habits of minorities.
Companies interested in growing profits realize the shift and are working hard to gain minority customers. Social media is an area where minority usage differs from whites. For example, Twitter, is a medium mostly used by blacks which surpasses the usage of Hispanics and whites respectively. Blacks’ usage of Instagram (23%) also outnumbered Hispanics’ (18%) and Whites’ (11%). The chart below from pewresearch.org highlights the key differences between the different demographics.
Buying habits also differ between minorities as it does with whites. Hispanics spend the most of the demographics on diapers, Blacks on beauty products and Asians in club stores. This means companies that sell these merchandise have to tailor their marketing strategy to benefit from minority spending habits. It will take both qualitative and quantitative research, observation, relationship building and focus groups to learn about each community to make marketing efforts successful.
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