For the past several years, Collage Group has published the Big Shift, a project which examines the role of multicultural consumers in America’s economy.
A 2016 study by the Life Insurance Marketing and Research Association (LIMRA), estimated that 48% of U.S. households have an average coverage gap of $200,000. This unmet life insurance need adds up to over $12 trillion in total market opportunity. So how can brands capitalize on this? We examine the roadblocks that multicultural consumers face when it comes to buying life insurance, as well as opportunities for brands to connect with them across the purchase journey – pre-purchase, purchase, and post-purchase.
Multicultural consumers are changing the retail landscape and the way brands approach shopper marketing. Convenience store marketing, however, is often neglected and poorly understood, especially across multicultural segments. But why? According to Nielsen, convenience-store sales represent 17% of total retail sales, and reached $140 billion in 2016, up from $126 billion in 2012. This trend, combined with the rising purchasing power of multicultural consumers, reveals a big need for multicultural insights within the convenience-store channel.
In 2017, cell phones, internet, and watch-anywhere TV have become appendages of consumers’ bodies. We’ve conducted several studies about digital behaviors and attitudes, but our latest work goes deep into how consumers make the critical decisions around which telecommunications products to buy, and what features are important to them. The research uncovers a broad array of insights, with explorations into the telecom landscape, deep-dives into cell phone, TV and internet providers, and path-to-purchase.
It’s no secret that American modern families in 2017 look vastly different from 50, or even 30 years ago. They are more diverse; going from Leave it to Beaver to Modern Family. But what do these changes mean for marketers? How can brands tap into these shifts to connect with modern families on a deeper level?
We set out to answer these questions in our latest study around modern families, here are just a few key takeaways:
In light of the new immigration policies by the Trump administration and dramatic increases in ICE raids on undocumented Hispanics, clients came to us with concerns regarding declining sales driven by Hispanic consumers. This merited a study, looking at Hispanics’ perceptions of and reactions to the early days of the Trump administration.
Chances are you’ve heard someone talk about an “authentic recipe” or an “authentic dish” at some point. In fact, during conversations about cooking, the word authenticity is usually hard to avoid. But what does “authentic cooking” really mean? Does the meaning change depending on who you talk to?
We often think of checking and savings accounts as commonplace, but in reality over a quarter of the U.S. population doesn’t have either one. This translates into 67 million individuals being financially underserved in America. These consumers are referred to as “underserved” because they’re not fully leveraging traditional financial offerings of a bank.
In today’s media landscape, consumers are deluged with advertisements: on TV, before YouTube videos, sandwiched between Instagram posts, you name it. In the sea of content, it can be hard for consumers to differentiate between ads and remember brands.
We constantly assess what makes certain spots stick, while others fall by the wayside. Over time, the pattern is clear: consumers like content that authentically mimics their experiences, cultures, and values.