If asked which consumer group is most likely to be planning vehicle purchases in the next 12 months, you might automatically think of all those car-hungry Gen-Xers and boomers. So you may be surprised to learn that millennials account for 35% of those looking to purchase a vehicle this year, according to our research. Statistically, that is significantly more than the number of boomers (at 19%), who plan to buy a vehicle within the year. Boomers, in fact, are the least likely age group to be in the market for a car, with 39% indicating no near-future plans to buy or lease a vehicle.
The rise of micro-mobility and auto technology has changed the landscape of transportation, but a few things remain the same. Consumers still prefer to shop for vehicles in-person and they want to own their cars. These insights and more are found in the ThinkNow 2019 Auto Purchase Trends Report which takes a closer look at vehicle purchases, purchase preferences, and the impact of technology on the industry.
Autonomous Driving and Micro-Mobility Gaining Ground With Consumers It has been two years since we released our last report on auto purchase trends. While 2017 doesn’t seem like that long ago, a lot has changed in the automotive industry. Back then, Lyft was still a private company and Bird was a scrappy start-up. Tesla autopilot wasn’t really autopilot, and Ford was still making sedans. The change in the automotive, and more broadly, the transportation segment since then has been nothing short of amazing. In response to the changes, we’ve released our 2019 Auto Purchase Trends Report which takes a closer look at vehicle purchases, purchase preferences, and the impact of technology on the industry.
As a market research company with a robust multicultural practice, we’re often asked about how to market to Asian Americans. Often, clients have heard that Asian Americans are wealthier and better educated than other groups and they want to tap into these appealing consumers. However, when we walk them through the different country of origin groups and languages spoken, they’re often surprised by the variety and complexity within this market. One way to simplify the discussion is to look at shared cultural values and craft messages that can be adapted to various subgroups within the Asian American community.
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For the first time, a brand development agency that specializes in cross-cultural marketing is bringing the following message to suppliers and advertisers of alcohol who think minority populations shed their social and cultural identities when purchasing premium products: You’re wrong. In response to a belief that most high-end beer, wine and spirits brands promote themselves in a way that’s far too color-blind, WPP’s Geometry, a commercial marketing agency, has partnered with the cultural insights research agency Think Now to survey more than 1,000 Asians, Hispanics, African-Americans and LGBTQ+ individuals living in the U.S. to find out what influences their purchasing decisions. They discovered that background does, in fact, heavily impact their shopping behaviors.
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Special Report Brought To You By Abasto & ThinkNow. The steady growth of the U.S. Hispanic population has caught the attention of the Latin American food and beverage industry. The United States is the second largest Spanish speaking population in the world and represent a sizable opportunity for smaller, more localized Latin American brands to engage with a large pool of consumers more likely to try their products. Successful brands like Bimbo and Novamex have paved the way for other Latin American food and beverage companies aspiring to take up residence in the U.S.
“Milestones” were the hallmark of 2018 as consumers weathered the highs and lows of another eventful year in America. Snowboarding icon Shaun White shred major powder on the men’s halfpipe to earn America it’s 100th Winter Olympics Gold Medal. African-American girls, clad in their Sunday best, sipped tea to salute the first African-American woman to become British royalty. And most recently, the midterm elections, coined the “most expensive” and “most watched” captivated the country in an epic battle for congressional seats and equality. In our final report of the year, ThinkNow Snapshot: 2018 Total Market Markers & Milestones™, we highlight some of the major shifts in trends that impacted economic outlook, holiday spending, and digital media use.
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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.
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.”
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.”