The 2018 U.S. midterm elections saw a dramatic increase in voter participation for younger generations. Here’s what brands and companies need to know about Millennial and Gen Z voter turnout to build consumer equity through the 2020 election and beyond.
The coronavirus crisis is changing everything in ways we never expected. Read more below to understand our research and review custom options for obtaining detailed reporting and proprietary insights.
The coronavirus crisis has now emerged as a once-a-century transformation in the global economy, with radical impacts on trade-flows, consumer behavior, and spending across every industry. Collage Group members are now in the throes of intensive investigation into consumer response across every category.
Two factors reinforce why this initiative is so important.
Cultural differences impact consumer behavior even more a time of crisis.
Cultural backgrounds significantly influence the neuroloigical “defaults” in human behavior, especially when it comes to health. Consider the progress of COVID-19 in South Korea vs Italy, both democracies in which multigenerational households are common. The differences could not be starker. Indeed, the difference in outcomes could not explained without recourse to an understanding of differences in culture.
The multicultural contribution to growth increases in an economic downturn.
Multicultural consumers will continue to drive the majority of spending growth through this crisis. Indeed, the multicultural contribution to growth has historically increased when the economy shrinks. Indeed, all our projections indicate the contribution can only increase in the future. As you can see from the chart below extracted from our Big Shift research, multicultural response is even more important at this time than in periods of economic strength.
We cover four components in our coronavirus crisis research:
1. Deep Dive Syndicated and Omnibus Survey
Our main survey goes deep into culture factors that are critical to differences in consumer behavior. We incorporate cultural attitudes that impact health and response to risks to health, such as social proximity conventions, multigenerational contact, fatalism, compliance with authority and other factors. The difference between the Italian and Korean situation cited above is probably due to these factors in no small part
We will look at a variety of questions including:
- How does consumer reaction to the coronavirus vary across race, ethnicity, and generation, gender?
- How do cultural factors such as social proximity, risk aversion and multigenerational interaction impact behavior and motivations across demographics segments?
- How are consumers across all segments altering purchasing behavior across and within categories, including stockpiling?
- How are consumers viewing the future, where will they spend when the crisis passes and what will be the long-term effects on behavior?
2. Tracking Survey
Our tracker goes beyond top-line reporting. We will look at levels of concern in multiple areas (financial, health, etc) as well as with government and media response. We will also track behavior adoption change which can be used by brands to encourage consumers to “do the right thing” and which may be predictive
3. Revised Spend Projections and Brand Response
We will updating our Annual Population and Expenditure analysis. We will look at a variety of questions including:
- How are population and spending projections likely to be altered across race, ethnicity, generation, and gender?
- How will these projections alter the outcomes by category?
- What are emerging examples of effective marketing during the Coronavirus crisis?
4. Custom Solutions
Questions we are currently address on behalf of members include:
- How are consumer behaviors changing with respect to my specific category, brand and consumer segments?
- How are my marketing efforts being perceived by consumers?
- How is my size of prize changing?
Dive into More Insights
Harder Times Ahead: Updated Economic Forecast and Survey Results on Consumer Finances and Purchasing
As the COVID-19 Pandemic tightens its grip on America, consumer attitudes regarding financial security and social activities continue to change. Here’s the latest information brands need to strategically prepare for both short-term needs and long-term expectations.
A Mile in Your Shoes: What Brands Need to Know about Sneaker Culture and the Multicultural Youth Consumer
Many Gen Z and Millennial Americans are passionate about fashion. We’re providing a closer look at the shoe industry, a corner of fashion where iconic brand collaborations create a highly competitive market.
Public support for the Trump Administration risks serious consumer backlash across multicultural segments. Here’s what brands need to know about multicultural politics in 2020.
To genuinely reflect and connect with multicultural consumers, brands need to lead by example and take meaningful action.
How Multicultural Consumers Want Brands to Support Change: Consumer Response to Racism & Current Events
Entering the conversation on race can be an intimidating step for your brand, but in this day and age, it’s imperative. Our latest research on current events helps you unpack this topic and provides the guidance you need to take action.