Rudy Bozas - Marketing to Multicultural Millennials

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    17-May-2015

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Marketing to Multicultural Millennials - Rudy Bozas, President of Plvora Advertising, Multicultural Marketing, from the Animal Agriculture Alliance Stakeholder Summit Titled Cracking the Millennial Code Stakeholder Summit, May 8 - 9, 2014, Crystal City, VA, USA. More presentations at http://www.trufflemedia.com/agmedia/conference/2014-cracking-the-millennial-code

Transcript

1. Marketing to Multicultural Millennials A Brave New World 2. MILLENNIALS ARE ABOUT 77 MILLION STRONG Source: Nielsen Pop. Facts 2013 3. They are the most racially and ethnically diverse generation Nearly 20% Hispanic Nearly 15% African American 5% Asian Source: Nielsen Millennials Breaking the Myths 2/14 4. 71% of Millennials say they appreciate the influence of other cultures on the American way of life (compared with 62 percent of Boomer) 5. They live primarily in the West and SW but with concentration in Urban Areas 1. Austin, TX (16%, 120) 2. Salt Lake City, UT (15%, 117) 3. San Diego, CA (15%, 117) 4. Los Angeles, CA (14%, 109) 5. Denver, CO (14%, 109) 6. Washington, DC (14%, 109) 7. Houston, TX (14%, 108) 8. Las Vegas, NV (14%, 108) 9. San Francisco, CA (14%, 107) 10. D/FW, TX (14%, 106) 6. They wont leave the nest! Nearly 31% still live with parents Hispanics are even higher at 45% 2/3s are not planning to move out until they are ready Source: Nielsen Millennials Breaking the Myths 2/14 & Pew Hispanic Center 7. Multicultural Millennials put importance in taking care of family. Being a good parent is most important goal in life 63% 55% its their responsibility to take care of and elderly parent Source: Nielsen: Newswire 2.18.14 8. Millennials care about programs that help them manage their well-being & make healthier choices. Source: Nielsen: Newswire 2.18.14 9. 9 10. They are savvy shoppers always on the lookout for a good deal never compromising in quality. BUT 11. They also want the latest and greatest products and tend to make impulse purchases. 12. Millennials are less committed to traditional grocery channels for acquiring food; more open to specialty, online & big box channels. -10 +5 +3 Millennials 13. Good-Doer Generation 14. Millennials who got burned by the recession feel a resentment to consumerism Robbie Blinkoff, Consumer anthropologist 15. 47% say that they buy a brand every month because they support a cause. 16. M-Ms are more likely to spend more for goods and services from companies that implement programs to give back to society. 17. Over 60 % are also willing to pay more for a product if its good for the environment. 18. & Hispanic Millennials are 66% more likely to connect via mobile than non-Hispanic white Millennials Twice as likely to own a tablet Source: Pew Hispanic Centers Latinos and Digital Tech. Study 19. The top 20 apps among M-M are either retail or discount focused. 20. Social media also impacts their relationship with brands: They are more engaged in activities such as ratings of products & services. Millennials are far more likely to favor brands that have Facebook pages and mobile devices. 21. Millennials are avid users of technology. When interacting with companies via social media, they want to feel like they have a personal, direct interaction with the brand. In return, they will advocate and endorse that brand. 22. M-Ms are Foodies 23. 5 out of 10 refer to themselves as FOODIES They want stay on top of current food trends and seek out new places with unique flavors & great atmosphere Source: Nielsen. Millennials Breaking the Myths. February 2014 24. 14% of Millennials are 1st generation 12% are 2nd generation strong ties to their familys home country recipes Source: Nielsen. Millennials Breaking the Myths. Feb. 2014 Multigenerational households are also more prominent in these cultures, making moms and grandmas big influencers. 25. Food is not just about nourishment for M-Ms: Its about self-expression and entertainment Its about personal storytelling They publish pictures of what they eat They follow food celebrities on Twitter, & discover new places and brands to eat Source: Nielsen. Millennials Breaking the Myths. February 2014 26. Multicultural Millennials are informed consumers who actively look at the ingredients and nutritional information of the products they eat. Ingredient Tracing Transparency 27. Facts do not cease to exist because they are ignored. -- Aldous Huxley 28. In short - Multicultural Millennials are: The fastest growing segment of the population With cultural differentiations that make them unique Consumers with a conscience They look for authentic relations with brands But they want you to provide it in a convenient way Remember technology is at their fingertips 29. Q&A 30. PolvoraAdvertising.com @PolvoraAds /PolvoraAdvertising