Page 4 - Hispanic Market Guide 2022

INSIGHTS The multicultural majority is coming fast and here to stay. This diversity is rich in nuance, with mixed races and identities that are shifting American culture and purchase behaviors. The bottom line is identity does not often fit into a single, neat box. Many Hispanics are Afro-Latinos—and most Blacks and many Hispanics identify as both in their race and ethnicity, consider themselves “people of color,” and share common areas of culture (like family and respect) and of discrimination. As many brands wrestle with casting choices, DEI initiatives and whether or not to invest in minority-owned media, they cannot forget to invest in multicultural marketing and partner with the right segment marketing experts, found in this guide. If a company does not understand and portray the realistic nuances of people, they risk alienating them, especially if they continue developing campaigns through the lens of white culture. Here are the top 10 facts and trends marketers must pay attention to in 2022–2023. The mu1 Americans under 35 could be a multicultural majority as early as 2023. lticultural majority shift is 2020 was believed to be the “official” year that the first full generation in America was a multicultural majority, BUT based on preliminary 2020 Census information, we estimate this landmark occasion to have happened in 2015! Percentage of Multicultural Americans under 18 2020 Projections (2010) 2020 Actuals 50.2% 52.7% Estimates based on non-Hispanic white population decline 8 years ahead of original Census projection. happening faster than expected. Why? Partially due to an aging non-Hispanic white population with a most common age of 58 compared to 27 for the multicultural segment. What else contributed? Non-Hispanic white population decline was 8 years ahead of 2010 projections. Fewer white births in 2010–2019 An uptick in non-age- related deaths among non-Hispanic whites Slower non-Hispanic white immigration The Brookings Institution, 2021 4 HMC 2022 HISPANIC MARKETING COUNCIL