Linguistic anthropology dives into how people use language to create culture, enact different identities, tell stories, and create relationships. But language is continuously changing. In the U.S., Hispanics are becoming more English dominant. Spanish speakers or descendants of Spanish speakers are encountering a different linguistic experience as language evolves to meet the needs of Hispanics in the present day. The Spanish language has been influenced by the American ethos resulting in a hybrid language, known as Spanglish, which sits at the intersection of language (Spanish and English) and culture.
Bitcoin was introduced to the world in 2009 and has since seeped its way into the mainstream media. It’s grown into the world’s largest cryptocurrency despite a history of volatility. Among those in the know, investors and brands alike, the Bitcoin market is booming right now. Tesla recently purchased $1.5 billion worth of Bitcoin and announced that it would start taking Bitcoin as payments for its cars. In partnership with BlockFi, Visa released the first Bitcoin Rewards credit card and plans to offer additional cryptocurrency products in the future. Not to be outdone, Amazon announced they are in the early stages of developing their own cryptocurrency that consumers can use to purchase products and services on their platform.
The shift in American attitudes toward social justice and inclusivity following George Floyd’s death and subsequent protests has prompted some companies to consider creating targeted messaging for multicultural consumers. Consumers are paying more attention than ever to how companies navigate social and racial justice issues and reward brands that align with their values. Getting it right, though, can be a daunting task, even for experienced brand managers. The fear of offending consumers is often enough to prevent marketers from even attempting to create multicultural messaging. If done correctly, however, the benefits of targeted multicultural messaging outweigh the risks.
Humans, in general, use metaphors to assign meaning to various aspects of our lives. By creating images in our minds, we make sense of the world around us and form associations that guide our behavior. Those associations can be aspirational, pushing us to pursue a certain status, or protective, warning us to steer clear of perceived danger. Understanding those associations is essential for marketers to activate consumer groups and deliver engaging content that meets them where they are. To do this, marketers can look to metaphoric research to analyze deep metaphors shaping the human psyche.
Diversity, equity, and inclusion took center stage in 2020, with many brands rushing to restructure internal teams and re-evaluate advertising campaigns in response to calls for social justice. There was a cultural shift among the general population. Multicultural consumers became the focal point, and forward-thinking brands responded by creating culturally relevant marketing that appealed to multicultural consumers. But the relationship between the brand and the multicultural consumer extends beyond the register to those running the register.
U.S. consumers adjusted their expectations last year as COVID-19, social injustice, and contentious presidential and senatorial races sent the country into a tailspin. Given the unprecedented disruption, the findings of our sixth annual ThinkNow Pulse™ Report, a national survey examining consumer sentiment across key demographics in the U.S., are especially relevant as marketers scramble to get a pulse on the post-pandemic consumer. Fielded in December 2020, Americans report worsened personal finances and a perception of a weakening economy, and the outlook for 2021 didn’t fare much better.
Last year around this time, I published “The State of the Union – Privacy Law’s Impact on the Sample Industry” sharing my views on how privacy legislation impacted the sample industry in 2019. Since then, the world has radically changed. A worldwide pandemic sparked a global health crisis. Social and political unrest upended the status-quo, and Joe Biden was elected the 46th President of the United States. The election was so bitterly contested that it resulted in a violent attack by extremists on the U.S. Capitol. Many are wondering how we can collectively move forward.
A couple of years ago, I had a conversation with an SBA Business Opportunity Specialist who was lamenting the absence of SBA 8(a) program applicants. At the time, she was seeing three to five businesses graduate the Small Business Set-Aside program for every new one applying. I did the math and realized most of the graduating 8(a)s enrolled during the Great Recession. By 2018 things were going well enough in the economy that perhaps small businesses felt that pursuing government work was not worth their time and energy. Due to COVID-19, however, the economy is once again unsteady.
Latin American brands often feel overly confident in entering the U.S. market. Having experienced success in their home markets, they look to replicate that brand affinity north of the border, often using the same strategy that won at home. But, that affinity doesn’t always translate into a successful entry, especially when brands fail to realize and plan for the shift from a mostly homogeneous cultural group to a more diverse society composed of varied multicultural backgrounds, cultural influences, and behavioral drivers. The tendency of LatAm brands to target their core Hispanic constituency can cause missed opportunities to reach broader markets.
Across industries, the pandemic has radically altered the way we conduct business and communicate. Market research is no exception, with social distancing requirements prompting innovation in online survey instruments, panel selection, focus groups, and other data collection methods to mitigate the risk of coronavirus spread. Despite this year’s challenges, 2020 has also presented new opportunities for market researchers to pivot and connect with one another, clients, and respondents in more authentic ways. Digital tools like webinars, online chats and surveys, and a resurgence of traditional practices like conference calling and phone intercepts facilitate new networking and collaboration prospects and provide greater access to panelists.