Saturday, July 25, 2015

4 new rules for multicultural marketing

The United States, and its multicultural composition, is ever-changing. According to the U.S. Census Bureau, there are 54 million Hispanics living in the U.S. Representing approximately 17% of the total U.S. population, those of Latino origin are the nation's largest ethnic or race minority. By 2020, that figure is expected to grow to 31% as the numbers of Latinos in the U.S. more than doubles. Also by 2020, more than 50% of all U.S. consumers will be classified as multicultural.

And, in terms of marketing to this population, tactics need to change as well. CMO & EVP Brands at Moët Hennessy USA Jon Potter says that in order to effectively market to Latino consumers, "brands need to develop strategies that integrate them into part of brand."

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