Don Montuori
Don Montuori
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Thanks in part to the success of high profile professionals who are helping to reshape the image of golf in a positive and hip way, the appeal of golf to younger generations, women, and more diverse ethnic groups is starting to evolve.
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They were this undiscovered yet potent demographic. They're actually a group that has more money than you think that they should have, given their age.
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Having roughly the same purchasing power as Hispanics, African Americans tend to be left behind when it comes to marketing and advertising because Hispanics are expected to have more rapid population growth. Marketers would be wise, however, to tap into the African American segments that outpace their Hispanic counterparts, such as those with incomes greater than $50,000; owner-occupied households; married-couple families; and African American women-all sectors which offer huge potential in the consumer goods markets.
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The days of the $150 pair of toddler jeans, the $1,000 high-chair and the $2,000 leather-lined stroller are upon us and manufacturers as well as retailers are accommodating. However, these consumers are also big on nostalgia, high-quality durable items that will last through multiple baby-lives, high-tech features that will make their lives easier, and high-fashion at bargain prices.
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Buying power, we know, is one key signal of the growth and size of the vital GLBT consumer market. In our report, we cite buying power as another term for 'disposable personal income,' which is the total after-tax income available to an individual to spend on personal consumption, personal interest payments or savings. According to economists, it roughly equals 86% of income.
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For perhaps the first time since the beginning of the hip-hop culture, we've been able to provide an empirical definition of what this market truly is. We finally have the hard data showing the difference in core values between young people who affiliate with hip-hop and those who don't, and the eye-opening differences span a wide range of areas from shopping behavior and purchasing decisions, to attitudes towards cars, media usage and fashion.
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Having a great ad campaign is not enough anymore. Any company wanting to succeed in selling nationwide needs to market with the following in mind: their audience in every area of the country; regional viewpoints and beliefs; purchasing drivers; information sources; -- and most of all -- what types of promotions (print, radio, TV, internet, etc.) work best in each given market. Many opportunities are being missed simply because marketers are unaware of the regional preferences affecting purchasing behavior.
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Without a doubt, the food industry, while not moving away from convenience, has begun to push health as the main driver of food packaging and promotion.
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We didn't have any quantitative analysis on the broad effect of digital on watches. It was more anecdotal and 'gut' sense that cell phone and other technology would begin to eat into watch sales.