While multicultural media spending is growing, it is a small fraction of overall spend and far from proportional to the populations it is meant to target.
It certainly seems as though marketers are missing out: a report from Horowitz Research reminds that diversity in advertising can have a positive impact on the purchase decisions of multicultural consumers.
Earlier research from Adobe found that a brand’s diversity impacts three out of 5 (62%) adult consumers’ perception of its products or services.
As might be expected, representing the cultures and lifestyles of Hispanics, Asians and African-Americans in advertising has a much greater positive than negative impact on purchase decisions for adults that identify with those groups (+50% net impact).
This positive impact on purchase decisions is not exclusive to members of multicultural groups.
Ads that show mix-raced couples and families, as well as ads with both Spanish and English on English-language TV, also have a positive impact on the overall public (+31% net impact and +19% net impact, respectively.) Read the rest at Marketing Charts.