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Multicultural Millennials: Connect for Growth

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Multicultural Millennials: Connect for Growth
Becky Arreaga, Mercury Mambo

Published in: Business
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Multicultural Millennials: Connect for Growth

  1. 1. CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION A P R E S E N T A T I O N F O R DIGITAL CROSSROADS 2017 11 | 0 3 | 2 0 1 7 P R E P A R E D B Y CONNECTING FOR GROWTHMU LTIC U LTU R AL MILLEN N IALS
  2. 2. 2 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION AGENDA WHY MULTICULTURAL MILLENNIALS MACRO-TRENDS • URBAN RENAISSANCE • MULTICULTURAL AFFLUENTS ACTIONABLE WAYS TO ENGAGE
  3. 3. 3 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION WHY MULTICULTURAL MILLENNIALS MATTER
  4. 4. 4 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION MAJORITY OF FUTURE GROWTH IS DRIVEN BY HISPANICS
  5. 5. CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION Found in: Nielsen – The Multicultural Edge: Rising Super Consumers OVER 106 CITIES ACROSS US NOW MINORITY-MAJORITY MARKETS INCLUDING 22 MAJOR MARKETS 5
  6. 6. CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION YEARS OF EFFECTIVE BUYING POWER STRONGEST AMONG LATINO CONSUMERS
  7. 7. 7 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION #MILLENNIALSRISING 75M REPRESENTING 27% OF THE US POPULATION Millennials 27.4% Gen X 26.6% Baby Boomers 26.4% Silent GI Gen 13.0% Other 6.6% Total US Population
  8. 8. 8 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION MOST DIVERSE GENERATION EVER 42%OF US MILLENNIALS ARE OF AFRICAN-AMERICAN, ASIAN-AMERICAN AND HISPANIC HERITAGE 58% 14% 6% 22%Non-Hispanic White African American Asian American Hispanic
  9. 9. 9 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION Found in: Nielsen – The Multicultural Edge: Rising Super Consumers URBAN RENISSANCE IS AS MUCH A MINDSET AS IT IS A POINT IN TIME
  10. 10. 10 10 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION TREND INSPIRED, FORWARD THINKING, CREATIVE INDIVIDUALS LEAVE YOUR LABELS BEHIND THEY LOVE THEIR CITY, THEIR NEIGHBORHOOD, THEIR NEIGHBORS
  11. 11. 11 11 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION THEIR OASIS, A PLACE OF CONSTANT DISCOVERY OPTIMISM RUNS HIGH FINANCES FOLLOWS
  12. 12. 12 12 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION They are The trendsetters, The innovators, The risk takers Legacy as much as their destiny They don’t take themselves too seriously But they take their world very seriously They are The dreamers, The doers, The makers Digital natives with access in the palm of their hands
  13. 13. 13 13 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION URBAN RENAISSANCE CONSUMERS DRIVE & ARE DRIVEN BY THE EXPERIENCE ECONOMY* *1998 Pine and Gilmore argue that businesses must orchestrate memorable events for their customers, and that memory itself becomes the product — the "experience".
  14. 14. 14 Source: Fast Company magazine, wsj 2015 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION 69% MORE CONNECTED 77% BEST MEMORIES 78% SPEND $ ON EXPERIENCE VS THINGS 8 IN 10 LIVE EXP. PARTICIPATION Fueling the EXPERIENCE ECONOMY 7in 10 SUFFER FROM FOMO 55% SPENDING + 72% SPENDING
  15. 15. 15 15 2008 RECESSION LAW OF SCARICITY CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION WHY the shift?
  16. 16. 16 16 LONGER-LASTING EFFECTS DEPRESSED STARTING SALARIES HOLDING ONTO LOW PAYING JOBS FORESAKEN THE STOCK MARKET DROWNING IN STUDENT DEBT Source: Bloomberg business, 2015
  17. 17. 17 Y o l o
  18. 18. 18 “Ownership just isn’t hard anymore. We can now find and own practically anything we want, at any time, through the unending flea market of the Internet. Because of this, the balance between supply and demand has been altered, and the value has moved elsewhere.” - Josh Dykstra, Fast Company CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION END OF scarcity AS WE KNOW IT
  19. 19. 19 1. WHAT CAN THEY DO WITH THE PRODUCT? 2. WHAT THEY CAN TELL OTHERS ABOUT THE PRODUCT 3. WHAT HAVING THE PRODUCT SAYS ABOUT THEM CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION VALUE LIES IN DOING
  20. 20. CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION 20 ACTIONABLE WAYS TO ENGAGE
  21. 21. 21 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION 1. GO BEYOND THE MIRROR 2. DON’T TELL THEM WHAT OR WHEN TO BUY 3. SHARE YOUR STORY 5 WAYS TO ENGAGE today
  22. 22. 22 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION 4. CHANGE THE RULES OF MARKETING: REACH • RELEVANCE • REPUTATION • RELATION • REFERRAL 5. JOIN THEIR CONVERSATION 5 WAYS TO ENGAGE today
  23. 23. 23 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION JOIN THEIR CONVERSATION
  24. 24. QUESTIONS? CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
  25. 25. THANK YOU FROM YOUR FRIENDS AT CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION FOR MORE INFORMATION CONTACT: BECKY@MERCURYMAMBO.COM

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