Have you been following the latest U.S. Census Bureau updates? And do you understand how it can affect your marketing strategy? Discover Collage Chief Insights Officer David Evans' latest post for more insight: #marketing #mrx #culture #marketresearch #marketingandadvertising #consumerinsights #purchaseintent #revenuegrowth #businessimpact
Wondering which way the country is going today? Yup, me too! The U.S. Census Bureau just updated their Vintage 2023 Population Estimates yesterday and I spent the evening diving into the numbers. These numbers are annually updated from July 1. What did I find? 💡 The headline: "country or region of origin" will matter more to authentic representation. Why? The percentage of multicultural growth driven by net migration increased from 37% to 42% from 2022 to 2023. 💡 Implication: consider representing multicultural experiences from the perspective of a single country of origin. This works for the mainstream if you use "Halo Effects" - meaning you represent consumers authentically with deep attention to cultural nuance and specifics, but through the lens of universal human interests, like shared love of family and friends. Other data points demonstrating the rapidity of change we are experiencing. 💡 Multicultural growth has accounted for almost 160% of total growth from July 1, 2020 to July 1, 2023, or 5.3 million people. 💡 The Non-Hispanic White population shrank by almost 2 million people in the same period. 💡 The Biracial/Multiracial, Asian and Hispanic populations accelerated out of the pandemic and have grown the fastest, by 7.4%, 5.7% and 4.8% respectively in that period. There is no turning back from this change. In a world where American consumers are becoming so culturally diverse, the best brands put culture at the center of strategy, seeing people for who they are, where they are. Learn more at https://lnkd.in/eMtyAHKN #mrx #diversity #inclusion #marketresearch #marketingandadvertising #consumerinsights
