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Community Global Villages
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Ethnic Buying Power Tops $1.25 Trillion in the U.S Over 1 1/4 trillion dollars is the annual combined spending level of Blacks ($572 billion,) Hispanics ($452) and Asian-Americans ($254). And, ethnic consumers are much more brand loyal than Whites. Increasing education and affluence make these markets ever more attractive. Asian-American have median incomes of $43,276, Hispanic $24,906, African-American $23,482 vs. Whites at $38,787. Ethnic Internet usage is strong. Access to the Internet is 68% for Asians, 43% for Hispanics and 40% for Blacks vs. 44% for White's according to Forrester projections. Attractive purchasing practices are reflected in car buying. The percentages buying vehicles new are 63% Asian-American, 59% Black, 27% Hispanic vs. 42% Anglo. Ethnic media works. Research documents that running culturally relevant messages in ethnic media is twice as effective in selling to Ethnic Americans as non-ethnic media. REASONS for advertising in Ethnic Media "Almost 30 percent of the population is people of color, destined to be 53 percent by 2040. Who is committing marketing suicide by ignoring that market?" Al Schreiber, Managing Partner, New America Strategies Group "Not only are African-Americans, Asians and Hispanics becoming more numerous in the U.S., they are also becoming more affluent, better educated and more visible. "Marlene Rossman in Multicultural Marketing "Being a mainstream company is not going to work for you anymore. You have to be aware of cultural differences." William Orton, Director of Target Marketing, Metropolitan Life Insurance Company "Today's minority consumers are looking to invest their money in products and services that have made an investment in them, creating a preemptive emotional bond." Samuel Chisholm, CEO, The Chisholm-Mingo Group "Minorities consume more media than the general market and respond directly to the media that are targeting them." Samuel Chisholm, CEO, The Chisholm-Mingo Group RESULTS to expect from advertising in Ethnic Media Multicultural "advertising pioneers (are) companies such as JC Penny, Procter & Gamble, Coca Cola, Colgate Palmolive, Sears and Target, who know that ethnic marketing is good business and are fully committed to it." Victoria Varela Hudson, President, Cartel Creativo (strategic marketing communications firm) (For example, Sears has) "been building a case study for the last 10 years that has clearly demonstrated that the more we invest in this marketplace, the better the stores perform. For us, reaching out has worked." Gilbert Davila, Director of Multicultural Marketing, Sears, Roebuck and Co. "By the end of our first year (of ethnic marketing,) Honda had leapfrogged over our competition to the number one spot in (target market) passenger car sales. Interestingly, we have kept the number one spot for the past 10 years even when we have been outspent by all major competitors." Eric Conn, Assistant VP of National Advertising, American Honda Motor Co., Inc. "We began formally in the Asian market back in the early 1980's. There is certainly a good return on investment, more than anything else." William Orton, Director of Target Marketing, Metropolitan Life Insurance Company - highlights from Pacific New Service
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