Now in its sixth year, one of our most popular reports, ThinkNow Retail™, has just been released, chock full of multicultural insights that give us some visibility into what retailers can expect during the 2018 holiday shopping season. The insights reinforce some trends we’ve seen the past several years such as the steady rise of online and mobile shopping. But, the report also has some surprises like Walmart dethroning Amazon as the number one destination for holiday shoppers.
- African-American Market Research, Asian-American Market Research, Blog, Consumer Sentiment, Hispanic Market Research, Hispanic purchasing, Integrated Market Research, Multicultural Consumers, Online Market Research, Total Market ResearchView Cart
As marketers, we tend to group people into neat little boxes (that’s technically what segmentation is, right?). Of these segments, no generation has been more clearly defined as millennials, although Gen Z is catching up. But the measure by which we define millennials — age — is rarely questioned. For years now, millennials have been identified as 18- to 34-year-olds. But, that age range has shifted, now indicating that they fall in between the ages of 22-37. Pew Research has drawn the proverbial line in the sand for millennials, defining them as “those born between 1981 and 1996 and the first generation to come of age in the new millennium.”
When ThinkNow set out to build what became one of the first nationally representative Hispanic online panels in 2008, we thought a lot about what type of communication would work best with Hispanic panelists. While the concept of online research panels was mature by that time, it was a relatively new concept for Hispanic panelists, specifically first-generation U.S. Hispanics. At the time, email was the primary and usually exclusive mode of communication from the panel to the panelists. Interestingly, not much has changed over the past decade. Email is still the primary mode of communication from a panel to a panelist in 2018.
MarTech has traditionally focused on the execution of marketing and advertising campaigns. Whether it is DSPs, DMPs, content marketing, acquisition, etc., MarTech stacks concentrate on the implementation of marketing campaigns. However, as MarTech data becomes more diverse, there is an opportunity to help on the front-end of marketing campaigns—through segmentation and persona building—enabling marketing strategists to create more holistic pictures of their target consumers and ultimately increase marketing ROI on the backend. What is segmentation and persona building?
Almost 60% of the total market has heard of cryptocurrency. But if you are Hispanic or African-American, you are less likely to know what bitcoin is or how it works. Among Asian-Americans, however, this isn’t the case. According to our most recent study, “Cross-Cultural Cryptocurrency Insights,” nearly 70% of Asian-Americans are aware of cryptocurrency, followed closely by non-Hispanic whites at 61%. But awareness of cryptocurrency among Hispanics and African-Americans is low, which is surprising for two cohorts that typically over-index in digital usage and awareness. So what makes this technology so different?
ThinkNow Mobile App Report: Why Brands Are Turning Back To Mobile Apps Mobile apps are experiencing a retail renaissance. Nike’s revenue has done a complete 180 this year, showing one of their strongest quarters in the past decade, driven primarily by their new mobile strategy which leveled up its mobile app to include gamification features. Starbucks’ mobile app has transformed the way coffee lovers order and pay for their favorite brews, and McDonalds’ new mobile app strategy has managed to appeal to younger consumers and lower labor costs. For a technology that’s showing its age (apps have been around for a decade now), it’s exciting to see a renewed interest in it by retailers and brands, despite a string of headlines alluding to “the death of the mobile app.”
In marketing, it’s important to keep pace with demographic change. Even better to stay ahead. Right now, for instance, significant changes in the U.S. cultural landscape have made multicultural marketing imperative. As a small advertising agency in today’s economy, if you aren’t incorporating multicultural consumers into your work, you are hurting your agency’s growth and your clients’ growth. To put it bluntly, if you aren’t doing multicultural marketing, you will not succeed. Consider the following reasons: The Asian population in the U.S. grew by 72% within fifteen years (2000 to 2015), according to Pew Research, placing this population as the fastest growing of the major racial groups.
Research Live published a thought-provoking article by JD Deitch in February 2018 entitled “Programmatic 2.0: The Future of Sample.” He aptly broke down the role automation has played in the history of sample into two distinct phases: 1.0 to 2.0. Deitch shares: “Programmatic 1.0 did two things very well: it has made us quicker and more cost-effective”. […]and how, “Programmatic 2.0 can vastly improve the accuracy and reliability of our data and our operational dependability.” His point being that programmatic 1.0 helped the sample industry become more efficient in bidding and programmatic 2.0 put the respondent back at the center of the sample process, implementing algorithms that will filter good survey experiences from bad survey experiences in real-time and adjust accordingly.
Millennials have been ruining everything for the past five years. From the workplace to grocery stores, Millennials have been blamed for every marketers’ woes imaginable in the past decade. However, there’s a new disruptor in town, and they’re older: Boomers. Millennials have blamed them for almost everything as well but let’s not get into that. In our 2018 Total Market Media report, we found that Boomers are disrupting something that they aren’t typically credited for, live TV. An audience that marketers have relied on for tuning in for their regularly scheduled programs are now taking the leap into streaming like their younger counterparts
- African-American Market Research, Asian Market Research, Blog, Consumer Sentiment, Hispanic Market Research, Integrated Market Research, Multicultural Consumers, Online Market Research, Total Market Millennials, Total Market ResearchView Cart
Mobile apps are experiencing a retail renaissance. Nike’s revenue has done a complete 180 this year, showing one of their strongest quarters in the past decade,driven primarily by their new mobile strategy which leveled up its mobile app to include gamification features. Starbucks’ mobile app has transformed the way coffee lovers order and pay for their favorite brews, and McDonalds’ new mobile app strategy has managed to appeal to younger consumers and lower labor costs. For a technology that’s showing its age (apps have been around for a decade now), it’s exciting to see a renewed interest in it by retailers and brands, despite a string of headlines alluding to “the death of the mobile app.”