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ANA: Marketers Missing Opportunity to Drive Growth by Not Engaging Multicultural Consumers
Liz Unamo| 8 de agosto de 2019
Bob Liodice
Multicultural consumers comprise almost 40 percent of the total U.S. population, yet multicultural media investments make up only 5.2 percent of total advertising and marketing spending, according to a new study. The study, conducted by PQ Media on behalf of the ANA’s Alliance for Inclusive and Multicultural Marketing (AIMM), revealed that overall multicultural advertising and marketing spending totaled $25.9 billion in 2018. Spending targeting Hispanics totaled almost $18 billion, a 5.3 percent increase over the previous year and far ahead of the amount of spend aimed at African-Americans ($7.2 billion, up 6.1 percent) or Asian Americans ($722 million, up 7 percent). According to 2017 U.S. Census Bureau figures, Hispanics comprise 18.1 percent of the overall population, while African-Americans make up 13.4 percent and Asians represent 5.8 percent. The goal of the report, U.S. Multicultural Media Forecast 2019, was to provide ANA and AIMM members with a comprehensive examination of multicultural media investments by demographics, media platforms, and media buying strategies. “This is a landmark study that clearly shows most companies are missing an opportunity by not focusing more of their marketing efforts on multicultural consumers,” said ANA CEO Bob Liodice. “The report reveals an opening for new ways to drive growth and offers a roadmap for how advertisers can compete more effectively.”
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