According to demographic analyst Peter Francese, key population changes are forcing marketers to re-think how they do business. In a report commissioned by Advertising Age, Francese highlighted these transformational trends:
- There’s no longer an “average American.” Previously, marketers focused on what was widely accepted as an even society; one in which the majority of people had the same needs for the same consumer products and services.
- We’re now a multi-segmented nation and a multi-generational society. In our 10 largest cities and four states — California, Texas, New Mexico and Hawaii — no race or ethnicity is a majority anymore.
- The multi-cultural shift is driven by immigration, and the fact that the non-minority part of the population — white non-Hispanics — is aging very rapidly. This is in contrast to the past decades during which well over two-thirds of U.S. births were white non-Hispanics.
- More than ever before, marketers will need to treat each generation or age segment as independent entities. It will be essential to address the multi-dimensional nature of our society today, and to use greater precision in identifying customers and developing messages.
- Despite the tremendous growth in digital media, tools that reach people in their homes and in their own languages will continue to produce strong results. Direct mail, especially when combined with QR (Quick Response) codes, is expected to be among the most effective in this category.