Reach new consumer segments in 2017
Date: Jan 18, 2017
VSI Research is leading the way in the development of research practices that take into account cultural nuances critical to the success of marketing initiatives.
Brands are increasingly aware that multicultural consumers represent the greatest opportunity for increased sales and market share. Across all types of consumer categories, multicultural consumers are now considered critical to brand success.
The Impact of Hispanic Millennials
One out of every five millennials in the U.S. is of Hispanic origin. Hispanic Millennials, comfortably merging Hispanic and non-Hispanics cultures into their lifestyles, are having a tremendous and potentially underestimated impact on “Total Market” consumer culture. They are introducing non-Hispanic friends to traditionally Hispanic-only celebrations such as Quinceañeras and Three Kings’ Day (Día de Los Reyes Magos) celebrations. Even Dos Equis beer is blurring the cultural lines with its updated “Stay thirsty mis amigos” tagline.
We’ve seen research efforts that include a small number of Hispanic participants in order to provide cultural representation. This approach misses the mark and provides no additional insight. A better bet: Connect with multicultural consumers and generate insights that will add depth and richness to creative and communication platforms.
New and Improved Research Methodologies
Multicultural consumers are true influencers and provide a window into how popular culture is evolving. New research methodologies make it easier and more cost-effective to gather research findings among Hispanic and multicultural consumers who over-index in their use of online and social media.
With targeted research methodologies from online diaries to online panels and communities, we are able to generate new insights into digital engagement and test new concepts and creative executions quickly and cost-efficiently. Whether using SMS-based research among less acculturated Hispanics or tracking video or text journal entries among millennials, we have more research resources than ever at our disposal.
Don’t forget the Spanish-dominant consumer
Spanish-dominant consumers remain a vibrant population segment. According to Nielsen data, 19% of Hispanics are Spanish-dominant and another 55% are bilingual, meaning that Spanish-language communications remain relevant and necessary to reach a significant portion of the market.
Spanish-dominant Hispanics, typically first generation, have different brand relationships than millennials who were born or raised in the U.S. Their consumer experiences are marked by growing up in home countries. As a result, a unique research approach is required that avoids a ‘save-as’ adaptation of General Market research studies and instead leverages cultural insights into purchase habits and category experience.
Multicultural consumers represent the fastest-growing segment of the economy, and brands that increase their cross-cultural competency will reap the greatest rewards. Isn’t it time to get to know and engage with consumers already making a difference in your product sales?
Kick off 2017 with an innovative, culturally targeted, and actionable research study!
For more information contact: Carlos Cordoba