Consumer Spending Archives

New Diverse Consumer Insights for Q3 2022

Collage, Parents-Kids, Multicultural, Hispanic, African American, Asian, Gen-Z, Millennial

New Diverse Consumer Insights for Q3 2022

More than 250 of America’s top brands have access to the deep cultural insights needed to engage America’s diverse consumers. Do you?

June 27, 2022
David Evans – Chief Product Officer

Here’s an overview of the new reports we’re releasing in Q3 2022 and beyond that you’re missing out on.

Read on and fill out the form to contact us today to learn how you can gain access:

Passion Points

Discover each segment’s core passion points: the activities and areas of life of deep interest to consumers. These are the “things” that consumers prioritize when spending their time, money, and attention. Our research helps you engage diverse consumer groups based on their interests in food, fashion, sports, fitness, music, movies, TV shows, games, home improvement, and travel.

Understand & Embrace Multicultural Terminology – Update

Engage culture with a deep understanding of the words that define it. In this newly updated report, we cover diverse consumer perceptions of traditional terminology (Black, Hispanic, Latino, Asian American), cross-segment terminology (People of Color), and novel terms such as BIPOC and LatinX. Dig deeper into the labels and/or identifiers each consumer segment prefers and double-click by age, gender and more.

Activate American Parents through Culture: 2

Build connections with American parents with these consumer insights that differentiate parents from their non-parent peers along two dimensions: 1) their cultural values and related attitudes, and 2) their media habits. This presentation unveils in-depth profiles of both moms and dads through the lenses of both gender and race/ethnicity.

The Next Frontier: Young Gen Z and Older Gen Alpha

Learn more about America’s next frontier of consumers with this deep dive into kids between the ages of 9 and 17. This research applies the lenses of both gender and race/ethnicity to create cultural profiles that reveal similarities and differences among these young Americans. Join us and explore their attitudes and behaviors across key categories.

Media Habits and Channels

Build deeper connections with Americans through media with a deep dive into diverse consumer attitudes and behaviors across visual, social and audio channels. This research supports engagement and targeting with data including core locations of media consumption, the role of influencers, the Metaverse, potential disruptors, and key changes from 2021.

Contact us at the form below to learn more about how you can gain access to these diverse consumer insights and much more in our Cultural Intelligence Platform.

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June 27, 2022/by Vlad McNeally

Essentials of Black Consumers

Collage, African American

Essentials of Black Consumers

Collage Group’s Essentials of Black Consumers presentation explores three areas of our consumer fundamentals research: demographics and economic opportunity, identity, and Group Traits.

June 17, 2022
Sudipti Kumar – Associate Director

Black Americans are an important U.S. consumer segment, and their population and economic power are growing. Brands must better understand this influential consumer group to effectively engage with them through their marketing and advertising.

Collage Group’s Essentials of Black Consumers explores three areas of our consumer fundamentals research: demographics, identity, and Group Traits to help your brand authentically connect with Black Americans.

Read on and fill out the form for an excerpt from our Essentials of Black Consumers presentation.

Key Insight #1

Black Americans are a a large, diverse, and economically powerful segment.

Implication

Recognize and celebrate the diversity of the Black segment in America by including Multiracial, Afro-Latino, and Non-Hispanic Black Americans in your marketing.

Key Insight #2

The history of Black Americans in this country, including systemic and institutional racism and race-related violence that continues today, results in Black Americans identifying with their race stronger than any other segment.

Implication

Understand the historical context for Black Americans in this country and develop a clear strategy to holistically and authentically support the Black community over the long term.

Key Insight #3

Black Americans’ are increasingly unsatisfied with how they are portrayed in advertising.

Implication

When portraying Black Americans, showcase their daily lives authentically and in ways that are culturally relevant and relatable. Actively pursue diverse marketing teams to provide more accurate portrayals of Black consumers’ lives.

Key Insight #4

There are four unique Group Traits important to understanding Black Americans: Determined, Real, Believing, and Forward-Thinking.

Implication

Utilize the Group Traits as ways to connect with Black Americans authentically. For example, to activate on determined, demonstrate how your brand can help Black Americans reach their goals by staying on track and getting to the finish line.

Contact us at the form below to learn more about how you can gain access to these diverse consumer insights and much more in our Cultural Intelligence Platform.

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June 17, 2022/by Vlad McNeally

Engaging Women Small Business Owners

Collage

Engaging Women Small Business Owners

Small businesses drive the American economy, and the number of women-owned small businesses is growing. Read on for more information about how to connect with women small business owners by understanding how they see themselves, their goals, challenges, and motivations for partnering with larger companies.

June 16, 2022
Jenny Wolski – Analyst

Nearly all private businesses in the U.S. are small businesses and 1.2 million of those companies are women-owned. The number of women-owned small businesses is growing, and women small business owners are highly engaged in the day-to-day decisions about their business. As a result, women small business owners make up an important segment with whom marketers and larger businesses should engage and build partnerships. In our recent Small Business Owners Study we look at small business owner’s identity, future outlook, operations, and relationship with larger companies. Read below for highlights of the study related to women small business owners and download the deck for the full picture.

Key Insight #1

Women small business owners self-identify as purposeful individuals who think about their impact on the world and value community involvement. They possess a strong desire to have their business connect to other women in their community.

Implication:

Women small business owners see themselves as perseverant, conscientious, and community-oriented, so focus in on those attributes in your communication with the segment.

Key Insight #2

Women small business owners are feeling less confident than men small business owners about the current health of their business. As a result of a more tepid business outlook, they are less likely to aim for expansion.

Implication:

Recognize that women small business owners haven’t had the easiest year and focus communications on how your company may be able to lend a hand.

Key Insight #3

Women small business owners are hands-on leaders that play a significant— if not complete role— when making operational decisions including benefits, finance, technology, etc.

Implication:

Address marketing communication directly to women small business owners. Despite their busy and varied schedules, owners are usually at the heart of their company’s day-to-day decisions.

Key Insight #4

Women small business owners are looking for product innovation partnerships with large companies.

Implication:

Provide women small business owners with the tools and knowledge they need to innovate.

Contact us at the form below to learn more about how you can gain access to these diverse consumer insights and much more in our Cultural Intelligence Platform.

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June 16, 2022/by Vlad McNeally

Essentials of Millennial Consumers

Collage, Gen-Z

Essentials of Millennial Consumers

Collage Group’s Essentials of Millennial Consumers presentation explores three areas of our consumer fundamentals research: demographics and segment context, identity, and Group Traits.

May 26, 2022
Giana Damianos – Senior Analyst, Syndicated Research

Millennials are one of America’s most diverse generations to date. Almost half of the segment is multicultural, and more than one in ten identify as LGBTQ+. Millennials today range in age from 26 to 42, placing them squarely in the midst of some transformational lifestages – including their prime career years as well as parenthood. In their lifetimes, Millennials have lived through not one, but two, major periods of change: the Great Recession, and then the COVID-19 pandemic. The Millennial worldview has been irrevocably shaped by coming of age under these circumstances.

Read on and fill out the form for an excerpt from our Essentials of Millennial Consumers presentation.

Millennials are a generation that’s taken a lot of blame and ridicule. They’re often stereotyped as “self-centered, immature, snowflakes”—yet evidence shows that they’re smart, strategic, hardworking, and compassionate. And while they may be fun-loving and experiential, “Millennial” can no longer be synonymous with “youth.”

Brands today must understand Millennials on a multitude of levels—from their demographics to how they identify and even what they value—to effectively understand and engage them.

Collage Group’s Essentials of Millennial Consumers explores three areas of our consumer fundamentals research: demographics, identity, and Group Traits to help your brand authentically connect with Millennials.

Download the attached presentation above and take a look at a few key insights and action steps:

Key Finding #1: Demographics & Segment Context

Millennials are delaying important life milestones, such as having kids and buying houses, primarily in response to challenging financial circumstances.

A Deeper Look:

Millennials have been impacted by difficult circumstances time and time again: the Great Recession, high unemployment, student debt crisis, and then the COVID-19 pandemic.

Action Step:

Give Millennials credit for the storms they’ve weathered. Validation goes a long way with this segment. Steer clear of stereotypes or tropes, even if intended as a lighthearted joke.

Key Takeaway #2: Identity

While parenthood is becoming an important aspect of Millennial identity given their life-stage, many are instead opting to be “child-free by choice.”

A Deeper Look:

Millennials’ financial setbacks and stunted entry into “adulthood” have caused many to feel unprepared and ill-equipped to raise children. Today’s turbulent social, political, and environmental problems further compound feelings of uncertainty around parenthood.

Action Step:

Normalize Millennials’ choice to not have kids by sending an empowering message that becoming parents isn’t an essential step on the road to fulfillment – and being childless by choice is equally valid.

Lean into Millennials’ “cool aunt” vibe by framing your product/service as a point of connection for them to show up in the lives of their friends or family members children.

Key Finding #3: Millennial Group Trait – Worldly

Millennials welcome diversity, prioritize new experiences, and pride themselves in being knowledgeable of many cultures.

A Deeper Look:

Millennials are an inherently diverse and highly educated generation with access to huge amounts of worldly information at their fingertips. These factors drive their intense interest in culture. Their desire for experiences is further compounded by the material things they desire feeling out of reach.

Action Step:

Play into Millennials’ gravitation towards cultural knowledge by pairing it with an experience. They want to both learn and do.

Feature cultural elements in your advertising to capture Millennial’s interest.

Key Finding #4: Millennial Group Trait – Connection-Seeking

Millennials are more expressive than other generations and use this as a tool to forge connections with others.

A Deeper Look:

Millennials’ “pioneering” experience on social media provided them with the first opportunity to widely find and connect with those who shared their interests and experiences. They’ve carried this connection-seeking spirit with them as they’ve moved onto new life stages, such as parenting.

Action Step:

Provide Millennials with opportunities to engage with one another—whether online or off. This is a great opportunity to capture both their desires for experiences and connection by showing how your product/service delivers on both of those aspects.

Key Finding #5: Millennial Group Trait – Tenacious

Millennials are motivated by competition, they don’t let fear hold them back, and they’re not willing to settle.

A Deeper Look:

Millennials were raised to seek achievements, a value instilled by their Boomer parents. But as fate would have it, they came of age at a less-than-optimal time to find success. The Great Recession caused them to stumble off track, but Millennials never lost ambition. Instead, they pivoted and cultivated a resilient spirit as a result.

Action Step:

Prove to Millennials that your brand’s products/services are worth chasing after.

Celebrate stories of resilience and tenacity in your marketing, such as a spotlight on someone who has overcome a challenge or who has created an innovate solution for their problems.

Contact us at the form below to learn more about how you can gain access to these diverse consumer insights and much more in our Cultural Intelligence Platform.

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May 26, 2022/by Vlad McNeally

Parents & Kids: Category Essentials

Collage, Parents-Kids

Activate Parents & Kids Within Categories

Part of understanding parents and kids is appreciating how decisions are made in specific categories. Explore usage, drivers, and channels for specific categories that are top of mind for parents and kids, as well as additional insights brands need to fully understand parents and how they differ across diverse segments.

May 20, 2022
Natalie Griffith – Director, Product & Content

Collage Group’s Parents and Kids Category research explores dynamics of parents and kids by ethnicity within key categories: food, beverage and QSR, personal care and beauty, infant care, media, toys and games, and travel.

Read on and fill out the form for an excerpt from our
Activate Parents & Kids Within Categories presentation.

Part of understanding parents and kids is appreciating how and who makes decisions in specific categories. It’s also crucial to understand how parenting styles vary based on key characteristics such as race, ethnicity, generation, and gender. In this presentation, we explore usage, drivers, and channels for specific categories that are top of mind for parents and kids, including:

- Food, beverage and QSR
- Personal care and beauty
- Infant care
- Media
- Toys and games
- Travel

Key Finding #1: Consider the multiple factors impacting parenting style and values

Parents today are overwhelmed with information and influence – from competing information sources, to competing parenting styles, it can be hard to make decisions in any category.

Action Step:

Understand the specific factors that drive purchases in your category, as well as how they differ by ethnic segment.

Key Finding #2: Mealtime is an opportunity for familial and cultural connection

Mealtime is an important connection point for families, especially for multicultural parents who seek to introduce their culture to their children through native cuisine.

Action Step:

Message not just around the importance of mealtime, but around the cultural connection it enables. Also consider providing parents with accessible ways to introduce native foods to their children.

Key Finding #3: Today’s parents give let kids share in family decision making

From mealtime and personal care to travel, parents today are involving their kids in decision making processes, big and small.

Action Step:

Recognize that there are two key decision makers when messaging to the families of today, and make sure you are communicating benefits that appeal to both parents and kids.

Key Finding #4: Use media to enable cultural connections

Media is an important cultural connector for families today. Asian and Hispanic parents seek out shows and movies in their native language, and Black parents feel it is important for their kids to see characters that look like them.

Action Step:

Provide representation in ways that are culturally specific, and enable the learning experiences parents hope to provide – whether that is through language or representation.

Contact us at the form below to learn more about how you can gain access to these diverse consumer insights and much more in our Cultural Intelligence Platform.

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May 20, 2022/by Vlad McNeally

Aligning Multicultural Marketing to the Evolution of the American Consumer

Collage, Parents-Kids, Multicultural, Asian

Aligning Multicultural Marketing to the Evolution of the American Consumer

Collage Group Joins Ad Age for a Conversation About Multicultural Marketing.

May 17, 2022
Zekeera Belton– Vice President of Client Services

An incredible cultural transformation of the American consumer is now fully underway. Brand after brand sees the massive growth opportunity that 140 million multicultural consumers represent. These consumers–particularly prevalent among younger generations–are fueling more than 100% of U.S. population growth and are remaking the consumer landscape.

Fill out the form below to watch the replay and hear how brand leaders responded.

As the U.S. consumer landscape evolves, there’s a need for brands and agencies to improve their understanding of culture–across race, ethnicity, generation, sexuality, family relationships and more–and, in turn, evolve marketing strategies for authentic engagement. Understanding culture is grounded in the journey to Cultural Fluency, the ability to tap into shared experiences and intersectional expressions to truly activate and engage today’s diverse consumers.

Representation alone is not enough to prove that your brand cares about consumers across culture. Does your brand truly understand America’s diverse consumers? And, are you effective in authentically engaging across consumer segments?

In a recent collaboration with Ad Age, “Ad Age Next: Multicultural Marketing,” Collage Group had the pleasure of joining other leading brands, including Unilever, Twitter, BET Networks and PepsiCo, to dig deeper into multicultural consumer engagement strategies. The conversation of the panel I joined centered on the term “multicultural,” and the state of multicultural marketing–how it is evolving, best practices and lessons learned.

I was pleased to share key insights that brands need to keep top of mind to continue to be relevant and drive growth across diverse segments.

What we’re seeing across segments is that satisfaction levels of portrayals in advertising have dropped. There is a rising increase in importance of race, but also a backlash in inauthentic portrayals in advertising. Clearly, there is more work to do.

Recent Collage Group research shows multicultural Americans are increasingly interested in supporting brands that support them.

However, they are becoming less satisfied with how they’re portrayed.

With insights like this in mind, Collage Group has developed a range of solutions to help brands succeed. Our shared-cost syndicated research model embedded into our world class Cultural Intelligence Platform, gives brands access to more than 10 years of diverse consumers insights with new reports weekly. Our members also have access to our CultureRate reports that assess the Cultural Fluency of brands and ads–our database is the largest of its kind, growing annually by more than 200,000 responses. And we offer SO much more.

Contact us at the form below to learn more about how you can gain access to these diverse consumer insights and much more in our Cultural Intelligence Platform.

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May 17, 2022/by Vlad McNeally

Essentials of Asian American Consumers

Collage, Asian

Essentials of Asian Consumers

Collage Group’s Essentials of Asian American Consumers presentation explores three areas of our consumer fundamentals research: demographics and economic opportunity, identity, and Group Traits.

May 4, 2022
Jenny Wolski – Analyst

Asian Americans are a rapidly growing U.S. consumer segment both in terms of population and economic power. Brands must better understand this influential consumer group to effectively engage with them through their marketing and advertising.

Read on and fill out the form for an excerpt from our Essentials of Asian American Consumers presentation.

Collage Group’s Essentials of Asian American Consumers explores three areas of our consumer fundamentals research: demographics, identity, and Group Traits to help your brand authentically connect with Asian Americans.

Download the attached presentation for more information. In the meantime, take a look at a few key insights and action steps.

Key Takeaway #1: Demographics & Segment Context

Asian American purchasing power is growing faster than any other segment, and far outpaces their population size.

Implication

Acknowledge Asian Americans’ economic power today. As their population and purchasing power grows, they will increasingly influence the national culture.

Key Insight #2

Asian Americans are not a monolith. They are a diverse community whose race and country of origin matter to their identity.

Implication

Highlight the rich heritage and contributions of Asian Americans in this country. Include messages that speak to the segment’s different countries of origin and the challenges the segment has faced.

Key Insight #3

Asian Americans’ satisfaction with their portrayal in advertising is poor and worse than a year ago.

Implication

Support the Asian American community by portraying them accurately and authentically in your advertising. Showcase Asian Americans in all the different roles they assume – as family members, workers, love interests, etc. – and in the unique moments of their everyday lives.

Key Insight #4

There are three unique Group Traits important to understanding Asian Americans: Culture-focused, Prudent, and Inquisitive.

Implication

Utilize the Group Traits as ways to connect with Asian Americans authentically. For example, to activate on prudent, demonstrate how thoughtful you are and continue to be in developing products and services that perfectly suit your customers’ needs.

Contact us at the form below to learn more about how you can gain access to these diverse consumer insights and much more in our Cultural Intelligence Platform.

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May 4, 2022/by Vlad McNeally

Connect with America’s Diverse Parents

Collage, Parents-Kids

Connect with America’s Diverse Parents

Are you effectively engaging the 62 million parents currently living in the US with kids under 18? To win in a rapidly diversifying America, it’s crucial to understand these individuals and how they’re raising their children. Keeping reading to learn more about how Collage Group can help you better connect with parents and kids in America.

April 28, 2022
Bryan Miller – Director, Syndicated and Solutions

There are currently more than 62 million American parents living with children under 18. These individuals constitute an outsized opportunity for brands as they’re making spending decisions for both themselves and their kids. To fully capture parental attention, organizations must understand and address these individuals as parents. But as America continues to diversify, it’s becoming harder to know how to authentically connect with parents of different cultural backgrounds.

Read on and fill out the form for an excerpt from our Parents and Kids : Connect with America’s Diverse Parents presentation.

Collage Group’s Parents & Kids Program offers organizations the insights they need to fully understand parents and how they differ across race, ethnicity, and generation on important issues and topics, at both the consumer and category level. The program also provides primary research on young kids to ensure organizations appreciate the full picture of the current American family. The program’s inaugural webinar series consists of 5 presentations, listed below.

The first presentation is attached here as both a downloadable pdf document and a webinar replay. It offers brands three recommendations to better connect with parents, as well as a warehouse of insights to help brands activate on the recommendations. The recommendations are:

1. Speak to the stresses and challenges many parents face
2. Position your brand as a tool to help parents move their kids closer to their goals
3. Help parents educate their kids around core culture and identity issues

Several key findings and next steps from this presentation include:

1. Younger parents, especially Gen Z, are less likely to think that having kids should completely change their lives. Embrace younger parents’ desire to have it all by acknowledging this sentiment and how it shapes their reality.
2. Multicultural parents place a higher emphasis on their children achieving financial success. Position the desire for their kids’ financial success within the context of persevering through challenges, children realizing the fruits of their parents’ labors, and having the means to take care of loved ones.
3. Moms are more likely than dads to teach or plan to teach their kids about other identities, including other races, other cultural groups, LGBTQ+ identities, and differently abled people. Prioritize communicating with moms when offering tools to parents that want to teach their kids about these identities.
4. Around two-thirds of Hispanic and Asian American parents are raising their kids to be bicultural—i.e., actively and fully embracing both being American and of another culture. Consider light-lift social media activations around culturally-specific holidays to drive resonance within the segment, and educate those outside of it.
5. Almost half of all parents—and 3 in 5 black parents—believe that girls will have a harder time achieving success because of their gender. Acknowledge the gender-related challenges many moms have faced in their own lives, while clarify the steps you’re currently taking to reduce sexism.

Contact us at the form below to learn more about how you can gain access to these diverse consumer insights and much more in our Cultural Intelligence Platform.

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April 29, 2022/by Vlad McNeally

Essentials of Gen Z Consumers

Collage, Gen-Z

Essentials of Gen Z Consumers

Collage Group’s Essentials of Gen Z Consumers presentation explores three areas of our consumer fundamentals research: demographics and segment context, identity, and Group Traits.

April 22, 2022
Giana Damianos – Senior Analyst, Syndicated Research

Gen Z is America’s most diverse generation to date. About half of the segment is multicultural, and a quarter identify as LGBTQ+. Gen Zers today range in age from 10 to 25 – born between 1997 and 2012, making them the first digitally native generation. In their short lifetimes, they’ve witnessed rapid change and turbulent political, economic, and social crises – including coming of age in the unprecedented COVID-19 era. Their worldview has been distinctly shaped by all of these factors.

Read on and fill out the form for an excerpt from our Essentials of Gen Z Consumers presentation.

Gen Z is a complex, multifaceted consumer group that’s often misunderstood. In fact, over half of Gen Z consumers are not satisfied with how people of their generation are portrayed in advertising.

Representation alone is not enough to prove that your brand cares about Gen Z consumers. Brands today must understand Gen Z on a multitude of levels—from their demographics, to how they identify, and even what they value—to effectively understand and engage them.

Collage Group’s Essentials of Gen Z Consumers explores three areas of our consumer fundamentals research: demographics, identity, and Group Traits to help your brand authentically connect with Gen Z.

Download the attached presentation for more. In the meantime, take a look at a few key insights and action steps:

Key Takeaway #1: Demographics & Segment Context

Gen Z has the highest intrinsic diversity of any American generation. They’re about 50% multicultural, and about a quarter identify as LGBTQ+.

A Deeper Look:

Every succeeding generation in America has trended towards increased diversity. For Gen Z, this means that diversity is their “norm”, which gives them a unique perspective and worldview from what previous generations experienced.

Action Step:

Make sure that your advertising includes diverse representation and accurately reflects who Gen Z is. Recognize that for Gen Z, gen pop is diverse led.

Key Takeaway #2: Identity

As they continue to come of age, Gen Z is increasingly focused on expressions of Gender, Sexuality, and Race.

A Deeper Look:

Diversity is the norm to Gen Z, and they think about all the things that make themselves and their peers unique – not just race – with increasing attention. Gen Z takes an intersectional approach to identity and expects brands to do the same.

Action Step:

Take a multifaceted approach to portrayals of Gen Z’s diversity – giving unique identity to one individual beats showing many who are only differentiated on a single dimension.

Key Takeaway #3: Gen Z Group Trait – Individuality

Gen Z is highly expressive and proud of what makes them unique.

A Deeper Look:

Gen Z is the most inherently diverse American generation—both in terms of race/ethnicity as well as sexuality. This diverse upbringing has shaped their perspective to be more accepting of differences and individuality, therefore making them feel more comfortable “being themselves”.

Action Step:

Communicate to Gen Z that your brand is a proponent of their individuality.
Give Gen Z the tools they need to be creative and help them show it off.

Key Takeaway #4: Gen Z Group Trait – Game-Changing

Gen Z is laser focused on the future. It’s their top-ranking attitude, and it significantly differentiates them from all other generations.

A Deeper Look:

It’s a natural life-stage occurrence for younger people to think about the future more than older people do. But for Gen Z, they’re not just thinking about it – they are innovating the future as an antidote to the harsh realities of coming of age in a turbulent world of economic, political, environmental, and social crises.

Action Step:

Appeal to Gen Z change-makers by showing them how your brand is intentionally thinking about the future and what action steps you’re taking now to be socially and politically engaged.

Key Takeaway #5: Gen Z Group Trait – Pressured

Gen Z faces intense pressure – ranging from academic to social and even career pressures.

A Deeper Look:

These pressures may seem typical for young adulthood, but they are compounded for Gen Z by the social media highlight reel they face on a daily basis.

Action Step:

Gen Z wants help forging connection and combating loneliness – offline and on. Provide them with the tools to connect with others who share their common interests and attitudes.

Contact us at the form below to learn more about how you can gain access to these diverse consumer insights and much more in our Cultural Intelligence Platform.

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April 22, 2022/by Vlad McNeally

America Now: Economic Inequality

Multicultural, Hispanic

America Now: Economic Inequality

This research is part of a series that expands on our 2021 Roundtable Presentation, America Now. Read on to learn how Americans feel about income inequality in the United States today.

Income inequality is a significant issue in the United States today, especially for many non-White Americans. Data from the Federal Reserve shows that the top 10 percent of earners in the country hold almost 70 percent of the nation’s wealth. And findings from the 2019 Survey of Consumer Finances reveal that White families’ median wealth ($188,200) is almost eight times that of Black families ($24,100) and five times that of Hispanic ($36,100) families. Brands and companies have an opportunity to connect with diverse America by understanding their perceptions on income inequality and taking steps to address the gap.

In a recent survey, we asked Americans how serious of a problem they feel economic inequality to be in the country today. While almost half of all Americans believe it’s a “serious problem”, Black and Hispanic Americans were much more likely to hold this belief. Non-Hispanic White respondents are clearly divided on this issue based on party affiliation – with 60% of White Democrats viewing it as a serious problem compared to only 26% of Republicans.

Further, when asked what political and societal issues were most important to them in today’s climate, 27% of Black Americans named reducing economic inequality followed closely by Asian Americans (24%) and Hispanic Americans (22%). For White Americans, the percentage who listed reducing economic inequality as a top three priority issue, was far lower. However, far more White Democratic Americans listed it as a top issue.

And it is not just that multicultural Americans are more sensitive to income inequality—they’re also more willing to reward brands that take active steps to reduce it. In fact, 40% of Asian Americans, 39% of Black Americans, and 34% of Hispanic Americans share this sentiment, compared to just 27% of White Americans. Again, White Democrats are more closely aligned to the multicultural segment – 43% of White Democrats are more likely to buy from brands who support reducing income inequality, compared to only 15% of White Republicans.

Now you may be thinking, what can my brand do to address a systemic issue as challenging as income inequality? The answer: quite a lot! Below are some examples of what brands and companies are doing.

- Costco, among other retailers, recently raised their minimum wage way above state and federal mandates. The move resulted in significant media attention.
- Mastercard has launched the Center for Inclusive Growth ; their twitter page (@CNTR4growth), provides daily updates and insights for the public.
- Noodles & Co teamed up with the app Even to offer instant pay options to their employees as well as a suite of financial wellness tools that include budgeting and organizational guidance.

Sources:

- Federal Reserve Data. “Distribution of Household Wealth in the U.S. Since 1989.” October 2021.
- Federal Reserve Data. “Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances.” Sept 28, 2020.
- ABC News. “Costco raises minimum wage to $17 an hour as businesses hike pay to retain workers.” October 28, 2021.
- Mastercard Center for Inclusive Growth. Mastercardcenter.org
- Payments Dive. “Noodles & Co. teams with Even.com on financial wellness benefits.” September 16, 2019.

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Other Recent Research Articles & Insights from Collage Group

David EvansChief Product Officer

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There's a world of just for you

Read on and fill out the form for an excerpt from our Essentials of Black Consumers presentation.

Other Recent Black Research Articles & Insights from Collage Group

Sudipti KumarAssociate Director

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There's a world of just for you

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Other Recent Women Research Articles & Insights from Collage Group

Jenny WolskiAnalyst

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There's a world of just for you

Read on and fill out the form for an excerpt from our Essentials of Millennial Consumers presentation.

Other Recent Millenial Research Articles & Insights from Collage Group

Giana DamianosSenior Analyst, Syndicated Research

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There's a world of just for you

Read on and fill out the form for an excerpt from our Activate Parents & Kids Within Categories presentation.

Other Recent Parents Research Articles & Insights from Collage Group

Natalie GriffithDirector, Product & Content

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There's a world of just for you

Fill out the form below to watch the replay and hear how brand leaders responded.

Other Recent Research Articles & Insights from Collage Group

Zekeera BeltonVice President of Client Services

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There's a world of just for you

Read on and fill out the form for an excerpt from our Essentials of Asian American Consumers presentation.

Other Recent Multicultural Research Articles & Insights from Collage Group

Jenny WolskiAnalyst

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There's a world of just for you

Read on and fill out the form for an excerpt from our Parents and Kids : Connect with America’s Diverse Parents presentation.

Other Recent Parents Research Articles & Insights from Collage Group

Bryan MillerDirector, Syndicated and Solutions

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There's a world of just for you

Read on and fill out the form for an excerpt from our Essentials of Gen Z Consumers presentation.

Other Recent Gen Z Research Articles & Insights from Collage Group

Giana DamianosSenior Analyst, Syndicated Research

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There's a world of just for you

David Evans
Chief Product Officer

Sudipti Kumar
Associate Director

Jenny Wolski
Analyst

Giana Damianos
Senior Analyst, Syndicated Research

Read on and fill out the form for an excerpt from our
Activate Parents & Kids Within Categories presentation.

Natalie Griffith
Director, Product & Content

Zekeera Belton
Vice President of Client Services

Jenny Wolski
Analyst

Bryan Miller
Director, Syndicated and Solutions

Giana Damianos
Senior Analyst, Syndicated Research