Last month, Illinois became the 11th state to allow the adult use of recreational marijuana. Its state legislature is the first to legalize selling the drug. Marijuana remains illegal at the federal level, for now. But that hasn’t stopped blue chip companies from exploring cannabis-based products as many believe that federal legalization in the U.S. is only a few votes away.
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Attracting and engaging consumers paves the road to sales and revenue for companies. Of these consumers, one segment, in particular, will represent more than 50% of the total consumer base within the next 20 years. For companies focusing on younger consumers ages 18-29, this consumer will be more than 50% of all consumers in less than ten years. Chances are, your company, like most, doesn’t understand these consumers despite the significant impact they will have on your company in the future. So, how do you gain insight into an audience with so much potential yet no relationship with your brand? Would you turn to a company focused solely on this consumer or one with a department, or more realistically, a person that heads up a division within a large organization?
Chances are, you’ve noticed an uptick in sample requests for Colombian respondents over the past few months which prompted us to launch an online market research panel in Colombia. Our expertise in multicultural market research makes us uniquely qualified to meet this need and brands are entrusting us to source high-quality sample in the area. But, have you wondered why brands are investing so heavily in trying to understand Colombian consumers better? We had a few thoughts but did a little more digging to get the facts.
With the not so lofty goal of 1 billion viewers for the 2019 FIFA Women’s World Cup in France, this year’s tournament is poised to be the most exciting to date for a few reasons. France is still buzzing from a Men’s World Cup win in 2017, and the U.S. women’s team is still heavily favored to win this year. But it’s the off the field conversations about gender equality, or the lack thereof, that signal the importance of this year’s games and has helped drive interest to an all-time high. Surprisingly, we know little about who’s watching the games, however. It’s tempting to make assumptions here and just assume that it’s women, but our research tells a different story. We spoke to a nationally representative sample of over 1,200 respondents in the U.S. to help us define the persona of the typical FIFA Women’s World Cup viewer
“A rising tide raises all ships.” We’ve all heard that expression and many companies are hoping it’s true as the U.S. economy experiences the lowest unemployment rate and the longest period of growth in U.S. history. Under such circumstances, we could reasonably expect all our ships to be riding high, right? Not quite. In fact, many companies are struggling and wondering why they’re not experiencing the growth they believe they should be. As a consumer insights company that works across multiple verticals and consumer segments, we have a good vantage point from which to observe the rise and fall of the tides and the individual ships trying to stay afloat. Take a closer look and ask yourself these questions:
The rise of micro-mobility and auto technology has changed the landscape of transportation, but a few things remain the same. Consumers still prefer to shop for vehicles in-person and they want to own their cars. These insights and more are found in the ThinkNow 2019 Auto Purchase Trends Report which takes a closer look at vehicle purchases, purchase preferences, and the impact of technology on the industry.
Amplifying the voice of the multicultural consumer is at the heart of what we do at ThinkNow. Our research studies dig deeply into this multifaceted audience to uncover the cultural nuances that make them unique and the impact acculturation has had on immigrant communities. We believe in the power of this data, and often reach out to companies who have never interacted with us when the research impacts their business directly. A common objection we get from cold outreach calls is, “sorry, but we don’t do multicultural research.” That response stings. To say that you’re not willing to get to know over a quarter of the U.S. population is both offensive and tragic, because not only does it send a message that you don’t care, but it’s just bad business.
Autonomous Driving and Micro-Mobility Gaining Ground With Consumers It has been two years since we released our last report on auto purchase trends. While 2017 doesn’t seem like that long ago, a lot has changed in the automotive industry. Back then, Lyft was still a private company and Bird was a scrappy start-up. Tesla autopilot wasn’t really autopilot, and Ford was still making sedans. The change in the automotive, and more broadly, the transportation segment since then has been nothing short of amazing. In response to the changes, we’ve released our 2019 Auto Purchase Trends Report which takes a closer look at vehicle purchases, purchase preferences, and the impact of technology on the industry.
What’s a little misconception among marketers? Well, in some cases, a minor misconception can lead to a huge missed opportunity. For instance, despite a significant, well-documented increase in multicultural consumers in the U.S., marketers of premium and luxury goods show little interest in this demographic. Why the indifference? It appears to stem from an assumption that the higher their income, the less people are influenced by their culture when making buying decisions. Makers of premium wine, beer, and spirits, for example, are in a prime position to take advantage of the growing opportunity with higher-income multicultural consumers. But to do so, they should consider what role culture plays in the purchasing decision.
As a market research company with a robust multicultural practice, we’re often asked about how to market to Asian Americans. Often, clients have heard that Asian Americans are wealthier and better educated than other groups and they want to tap into these appealing consumers. However, when we walk them through the different country of origin groups and languages spoken, they’re often surprised by the variety and complexity within this market. One way to simplify the discussion is to look at shared cultural values and craft messages that can be adapted to various subgroups within the Asian American community.