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by Sophie L. Gibson
Marketing your services and products online has taken on a whole new way of life for all of us and is now being taken as seriously as traditional marketing. The Asian, Hispanic and African-American communities once again have corporate brands and government agencies jumping and making serious strides to reach them…online. What's your online strategy to reach your own community?
It is absolutely critical for companies who want to sustain their brand and be successful in today's environment to actively reach Asian-American, Hispanic and African-American consumers and do so online. It is no secret that by the year 2020 40% of Americans will consist of "ethnic" consumers. Of the 84 million-person surge expected by 2020, 69-75% will be of diverse ethnic backgrounds.
Let's look at the numbers as they exist today. There are approximately 35 million Hispanics and 35 million African-Americans living in the U.S. today and spending approximately $600 billion each year. Talk about economic power and the significant contributions both groups are making to the U.S. economy. Asian-Americans according to a new study by Forrester Research are at the top of ethnic consumer groups for online shopping. On average, all consumers purchase 3.2 times per year yet Asians make an online purchase 6 times a year. The study points out youth and wealth are key drivers for online shopping and Asians are the youngest and wealthiest group in the U.S. Whites shop 3.3 times per year; African-Americans, 1.8; and Hispanics, 3.
Forrester also found that both the African-American and Hispanic consumer groups are reluctant to spend online because of a preconceived notion that purchasing products and services online cost more than walking into a store and purchasing the same product or service. It is up to marketers to win over the Hispanic and African-American consumer that has the ability and the purchasing power to do online shopping.
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