Archive for the ‘Affluent African Americans’ Category

Affluent Blacks and Latinos are Prime for Relevant Brand Marketing

Wednesday, May 21st, 2014

Luxury Brand Marketing to Affluent Blacks and Latinos Hispanics

Luxury Brand Marketing to Affluent Blacks and Latinos Must Be Relevant

As the percentage of the Hispanic and African American populations continues to outpace Whites in America, their ranks of six-figure earners are rising with it. Yet luxury brands are slow to recognize their growing numbers and failing to seize the opportunity to earn their business through targeted, relevant marketing.

The nation’s largest minority is rapidly gaining affluence:

 

African Americans constitute a major growth market:

 

While wealthy Blacks and Latinos may seemingly belong to the affluent mainstream, luxury marketers must:

  1. Develop strategies for directly reaching these segments of affluence and…
  2. Engage them in a culturally relevant manner.

 

By our count, there are 578,000 African Americans and 1,083,000 Hispanic Americans of very high income and net worth that luxury brands should be targeting with personalized marketing. When you acknowledge your ethnic audience with messaging and imaging that they can relate to, you can establish an emotional connection that is so essential for achieving high-end brand loyalty.

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