For market researchers, 2016 was one for the record books. Election poll predictions were an epic fail. Historic demographic shifts rocked traditional models. And we’re still arguing over the definition of Total Market. It’s fair to say that the market research industry is in dire need of some soul searching. And as a researcher myself, I’ve done a little of my own and have come up with three Hispanic market research predictions for 2017:
Gen Z is a wholly unique generation and carving their own path as we see on our latest research initiative, We Are Gen Z, a collaboration between our research agency and Sensis. They are the largest, most ethnically diverse generational cohort the U.S. has ever seen. With Gen Z representing 26% of the population at 83 million strong, Gen Z will be reshaping multicultural marketing as we know it. They will be the last white-majority generation with non-Hispanic whites only representing 52.9% of the generation and Hispanics representing almost a quarter of Gen Z at 23.5%. One of the most interesting developments in Gen Z is the high rate of multiracial Gen Zers, with 1 in 10 births being multiracial as of 2013.
3 Reasons Why Market Research Is An Ideal Career For Recent College Grads What does the future hold for careers in the market research industry? The ambiguity leads some to conclude that we’re experiencing an existential crisis of sorts; that our industry is struggling to exist in its current state but is as equally uncertain about how to change in the future. It’s fair to say that the industry, as a whole, is doing a little soul searching. One of the revelations revealed thus far is its need to attract fresh, young talent. Support for this sentiment has been growing, sparking new pseudo-market research positions such as data scientists, strategic planners, and the like.
Making Room for the Unexpected in Qualitative Research Recently, I wrote about how qualitative research plays a role in market research that big data and social listening will have a difficult time replacing. This month, I’ll discuss how to best use Qualitative Research so that it helps generate new thinking that guides future plans versus big data results which, by their nature, focus on past behaviors.
Emotional Effect that Bilingual Advertising Has ThinkNow Research co-founder, Roy Eduardo Kokoyachuk, was asked by National Geographic’s Spanish language cable channel, NatGeo Mundo, to help conduct some research on the effects of bilingual advertising on U.S. bilingual Hispanic consumers. NatGeo Mundo wanted to explore the emotional effect that bilingual advertising has on the human brain.
As Big Data Rises So Does the Need to Talk Directly to Consumers When big data came on the scene a few years ago there was a lot of hand wringing in the market research industry about what the future was going to look like if all online consumer data was going to be available for marketers to analyze and exploit. In-person qualitative research, with its old-school approach and methodology, seemed to be a good candidate for extinction in an age of pixels and clicks. Why would marketers want to talk to consumers if they could see their every purchase and eavesdrop on their online conversations? Wouldn’t consumers reveal their likes, dislikes and motivations for all to see and marketers to exploit?
We’ve been hearing the death knell for acculturation for the past several years now in the Hispanic marketing world. A large percentage of Fortune 1000 companies, however, still use acculturation as a point of reference for segmentation so as a research company we still see acculturation models regularly. However, a call with an ad agency last week made us do a double take and question, is acculturation really dead?
“I need 500 Spanish-dominant Hispanics that are primary grocery shoppers.” This is a common Hispanic sample request. While straightforward, this request is missing a critical component that could boost the integrity of the data; country of origin. Hispanics in the U.S. come from 22 different countries of origin. The top three have been changing as Hispanics from El Salvador are poised to surpass Cubans as the 3rd highest country of origin in the U.S. While all of these countries share a common language, culturally they are distinct and unique.
Although I was brought to the U.S. as a child I considered myself a proud citizen of Argentina until my mid-twenties and didn’t care much about politics until 1996. What happened that year? Passage of the 1996 welfare law which conditioned eligibility for many government benefits on citizenship status rather than legal status. The law essentially placed eligibility restrictions on legal immigrants like myself that had traditionally applied only to undocumented immigrants.
The Consumer Confidence Index hit 92.2 in February, from a revised 97.8 in January, the Conference Board said. That’s lower than the 97.3 expected by analysts, and the lowest level since July, according to Thomson Reuters. We recently conducted our annual consumer sentiment study with readable base sizes of Hispanics, African-Americans, Asians, and non-Hispanic whites. A segmented view of the cohorts paints a different picture and emphasizes why 2016 is an ideal year to shift some spend to Hispanics.