The news: Multicultural consumers—a segment whose buying power has grown 345% over the last 20 years—now expect brands to prioritize representation in ads, per a Snapchat study.
- 70% of multicultural consumers feel it’s important for brands to positively represent people like them, while 67% value brands whose ads authentically represent people from diverse backgrounds.
- Representation is a key driver of action: 53% of multicultural consumers are more likely to purchase from brands that represent people from diverse backgrounds, and 51% are willing to pay more for brands that represent them.
- 67% of multicultural consumers said that it was important for brands to speak up on social issues like free speech and mental health, while almost one-third are interested in how brands give back to their communities.
The importance of multicultural advertising: Diverse consumers’ buying power and growing portion of the population makes it critical for brands to reach them, and multicultural ads lead to better outcomes overall.
- Multicultural audiences, including Black, Hispanic, and Asian consumers, will represent the US majority by 2045.