Within four years, multicultural groups will account for 30% of the nation’s $17 trillion spending power, but the large majority of multicultural consumers say brands and retailers are not doing enough to represent them in their campaigns, according to “Reaching Multicultural Audiences Through Experiential Marketing,” published by Eventus, an Advantage Marketing Partners agency, and Advantage Customer Experience.
Experiential marketing is one of the quickest and most visible ways to demonstrate representation, because it occurs on- and offline in real time, the report noted.
“But to be truly representative, we must understand and value the audience,” according to the report. “It’s about human connection. To develop these connections in the multicultural space demands going beyond simple demographics into deeper, more meaningful areas requiring the utmost sensitivity and care.”
“Reaching Multicultural Audiences Through Experiential Marketing” outlines key insights into the three largest and fastest-growing ethnic groups in the United States: Hispanics, African Americans and Asian Americans.