September 17, 2008 • 2:06 pm
Affluent African Americans Wield $29.8B in Spending Power – MarketingVOX
* Affluent African Americans most often read the The New York Times and Wall Street Journal newspapers, as well as magazines BusinessWeek and Newsweek, Jet and The Economist.
* 50 percent go out for fine dining and more than 25 percent go to clubs/bars at least once a week.
* More than 20 percent go clothes shopping at least once a week. Men focus their fashion spending on career wear, casual wear and shoes, while women spend on purses and shoes.
* 75 percent shop in higher-end, specialty department stores, and 66 percent shop in traditional department stores. Outlets and “last chance” stores also are popular destinations, suggesting that even affluent shoppers look for bargains.
* Luxury bottled water and wine (both domestic and imported) are the beverages of choice, though other high-end beverages are frequently consumed.
* More than 10 percent travel on business at least once a week and about one quarter shop during business travel.
* More than 70 percent have a passport and have used it on international travel in the past year. About one-third travel internationally at least three times a year and one-tenth travel internationally at least every other month.
* Nearly 10 percent plan to buy or lease a new vehicle in the next three months, and more than one-quarter more expect to do so in the next year.
* Luxury sedans are the most common current and future vehicle types preferred. Those who own mid-range and economy vehicles are looking to trade up in their next purchase or lease to a more prestigious option.
* While more than 60 percent have gym or fitness center memberships and one-third have home gyms, nearly 40 percent wish they were doing more to stay fit.
* 65 percent participate in cardio exercise and 57 percent participate in resistance/weight training to stay fit. About one-third jog, speed-walk or practice Yoga or Pilates. Another fifth say they run, swim or play tennis on a regular basis.
* Affluent African Americans are looking for insider information to satisfy their need for new social experiences. They see themselves as resources for friends and colleagues on what’s new and like to treat themselves to the very best and indulge in conveniences.
* Nearly 30 percent make the majority of their living through entrepreneurial activities, and another 10 percent aspire to do so in the next five years.
Filed under: affluent, African American
September 17, 2008 • 1:56 pm
MediaPost Publications – Banks Have Opportunity In Diehard Home Owner Wannabes – 09/15/2008
According to Mintel, Echo Boomers (those agea 13-30), African-American and Hispanic consumers plan to buy a house within the next five years. While only 23% of the general population intends to buy a house in that time frame, 38% of adults 18-24 and 39% of adults 25-34 said they will. Across all age groups, 42% of Asians, 37% of African-Americans and 30% of Hispanics say they will buy a home in the next five years, compared with 20% of whites.
Filed under: African American, economy, Gen Y, Hispanics
August 19, 2008 • 4:52 pm
U.S. to Grow Grayer, More Diverse – washingtonpost.com
The nation’s population will look dramatically different by mid-century, becoming more racially and ethnically diverse and a good deal older as it increases from about 302 million to 439 million by 2050, according to projections released today by the U.S. Census Bureau.
Filed under: African American, Baby Boomers, empty nesters, Hispanics, trends
Black women embrace tech gadgets
Five times as many black women — 36%– use cell phones for three or more hours a day compared to other women, according to research by Time Inc.’s Essence magazine. Black women also spend more extended time using iPods, computers, high-definition TVs and DVD players. The findings defy an image of technology consumers focused on young men, says Carmen Bryant, director of consumer research for the magazine.
Black women use technology to gain control over their lives, but also see it as a way to express style and personality, Bryant says.
The survey found 42% of black women report spending $100 to $499 or more on cell phones compared to 26% of other women. Black women also embrace new mobile technology, with 21% of them using cell phone Web browsers to make purchases compared to 8% of other women.
Bryant says it’s important for electronics marketers to recognize these women as influential consumers. “They tend to be the primary decision makers in households, in part because two thirds of African-American households are led by women,” she says.
Filed under: African American, Consumer, digital, gadgets, Media, Mobile, technology, Women
February 8, 2008 • 11:31 am
Jay-Z is joining forces with Steve Stoute to open an ad agency that will help marketers reach multicultural consumers.
A New Venture for Jay-Z, on Madison Avenue – New York Times
JAY-Z is a Grammy-winning rapper, a club owner, a clothier, a fledgling hotelier, the part-owner of a basketball team and the former president of a record label. Now, he gets to add adman to his résumé.
Jay-Z — real name, Shawn Carter — is joining forces with another African-American entrepreneur, Steve Stoute, to open Translation Advertising in New York, an agency that will help marketers reach multicultural consumers.
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Filed under: advertising, African American, Consumer, Hispanics
September 26, 2007 • 9:38 am
General Mills is filling a need discovered through a recent survey of young
African-American women that shows they are not very confident in the kitchen,
but want to learn how to cook soul food and pass the recipes on to their kids.
The company has launched a dedicated Web site and will host a series of supper
clubs this fall.
It’s important to be authentic, and if you’re not consumers will call you out. Do you think Betty Crocker and soul food are a good fit?
MediaPost Publications – Betty Crocker Leading The Way To Soul Food – 09/26/2007
ALL ABOARD THE SOUL TRAIN at General Mills. Leading the charge is the unlikely Betty Crocker, cultural icon of the kitchen, whose newest recipes focus on soul food dishes.
General Mills is remixing old standards and creating new traditions for 2008, the “Year of the Supper Club.” Think uptown, think A train, think Harlem.
Or, as the food giant’s press release puts it: “Black-eyed peas cornbread salad. Sweet potato pie smoothies. West African peanut stew.” They are just a few of the 100 recipes at ServingUpSoul.com, where consumers also will find advice and instructions for easy cooking and entertaining. The site is a partnership with celebrity-hostess entrepreneur B. Smith.
Filed under: African American, CPG, families, Moms, Women
September 18, 2007 • 8:18 am
A new report from Yankelovich shows that marketing today is perceived as relevant to white consumers far more often than it is to African American or Hispanic consumers. The point the study makes clear is that a marketing campaign should be more integrated and relevant in messaging to create a stronger brand connection.
Ethnic Consumers more receptive than Peers to Marketing – most believe messaging lacks relevancy
According to Yankelovich’s 2007/2008 MONITOR Multicultural Marketing Study, African American and Hispanic customers are almost twice as likely to “enjoy looking at or listening” to advertising than their peers, but most find current messaging is not relevant..
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Filed under: advertising, African American, Consumer, Hispanics
September 4, 2007 • 1:29 pm
Gain laundry detergent became one of Procter & Gamble’s billion-dollar
brands–there are 22 of them–this past fiscal year by taking the unusual tactic
of going after a narrow audience. Just 16% of users account for 88% of sales
volume, P&G says.
The low-priced laundry detergent–launched in
1969–had grown a small following among cost-conscious consumers in the South,
but failed to build nationwide appeal. P&G’s research showed that scent was
a particularly important factor in Hispanic households, so in 1981, it decided
to give Gain one more chance by repositioning it as a heavily fragrant
How P&G Led Also-Ran To Sweet Smell of Success – WSJ.com
Gain was nearly a loss for Procter & Gamble.
The low-priced laundry detergent, launched in 1969, had grown a small following among cost-conscious consumers in the South but failed to build nationwide appeal. With sales dwindling, in 1981 P&G decided to give Gain one more chance by repositioning it as a heavily fragrant detergent.
Touting scent, instead of cleaning performance, was a departure from the long-held formula of laundry marketing. But P&G’s research showed that scent was a particularly important factor in Hispanic households, and it believed a fragrant detergent would draw the growing Hispanic population in the U.S. Emphasizing fragrance also allowed P&G to differentiate Gain from its other laundry brands, including Tide, Cheer and Era — marketed, respectively, for superior cleaning, color protection and stain fighting.
Filed under: African American, Consumer, Fragrance, Hispanics, laundry
American Airlines has recently taken a number of steps to focus on market
segments including Hispanics, women, and the gay-and-lesbian community. Currently, the airline struck a deal with Steve Harvey in order to reach African American consumers.
American and Harvey Team Up – WSJ.com
American Airlines has struck a marketing deal with Steve Harvey, the popular African-American comedian and syndicated morning radio-show host, as part of a broader push to target minority consumers.
The deal includes commercials voiced by Mr. Harvey on his program, “The Steve Harvey Morning Show,” as well as a co-branded Web site with business and leisure travel tips. The airline, a unit of AMR, will also have a once-monthly live travel segment on the show, which airs on 44 stations in the U.S. and reaches nearly five million listeners a week, most of them African-American.
Filed under: African American, Consumer
According to Mintel, bottled water has taken the steam out of water filters,
but the strength of the bottled water market is an opportunity as well. The
consultancy sees bottled-water buyers–25- to-34-year-olds, and parents–as a
potential market for filter devices. Younger people, urbanites and African
Americans are good prospects because they report being dissatisfied with their
MediaPost Publications – P&G Adds Flavor To Its PUR Water Filtration System – 05/24/2007
PROCTER & GAMBLE’S PUR WATER filtration system is adding a new spin on filtered water. It’s creating a new version that includes flavors.
The Flavor Options SKU lets consumers insert a flavor cartridge into a redesigned PUR pitcher or onto the faucet-mounted version, and use a button to vary the concentration of flavor in the water dispensed by the pitcher or tap.
Filed under: African American, Consumer, CPG, families, Young Adults