As Sun Sets on Multicultural Space, Execs Must Adapt
Multicultural marketing, in the traditional sense of the phrase, is dead. There, we said it. Call it what you like: “Armageddon,” a “tipping point,” a “paradigm shift.” It doesn’t matter.
Even with the latest 2010 U.S. Census numbers now on the books and ethnic minorities accounting for the greatest growth sector, marketers continue to underspend with no real breakthrough in sight. Go to any of the few ethnic ad agencies still left and you’ll hear, “we are evaluating our options,” trying to “secure client budget approval,” and so on. As early as the middle of this summer, some agencies were telling traditional media reps that their multicultural ad spending for 2011 was done! In July? Really?
So what killed multicultural marketing? A number of things.
Read the entire article at Ad Age.