2020
9
US Multicultural Young Adults – Cultural Engagement and Experiential Marketing Market Report 2020
2020-11-07T03:01:17+00:00
OX987144
3695
127122
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Report
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 “Brands that deliver on multicultural young adults’ expectations of offering fun, information and connection with others will deepen their value and purpose in participants’ lives.”- Toya Mitchell, Senior Multicultural…

US Multicultural Young Adults – Cultural Engagement and Experiential Marketing Market Report 2020

£ 3,695 (Excl.Tax)

Report Summary

Everything you need to make the right decisions

Providing the most comprehensive and up-to-date information and analysis of the Multicultural Young Adults – Cultural Engagement and Experiential Marketing: Incl Impact of COVID-19 – US market including the behaviours, preferences and habits of the consumer.

Mintel has the answers you’re looking for

What are the key challenges facing the industry? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?

Covered in this report

Multicultural young adults consider brand-sponsored events as a next-level experience beyond everyday leisure entertainment experiences that provides the desired multisensory way to engage with their interests and connect with people that matter most to them. During the pandemic, brands have turned to virtual events to maintain a connection with consumers. However, they eventually will have to resume in-person events in some format to ensure this marketing tactic stimulates the mind and senses to encourage product or service trial and loyalty.

Expert analysis from a specialist in the field

Written by Toya Mitchell, a leading analyst in the Multicultural sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

Brands that deliver on multicultural young adults’ expectations of offering fun, information and connection with others will deepen their value and purpose in participants’ lives
Toya Mitchell
Senior Analyst, Multicultural Reports

Table of Contents

  1. Overview

    • What you need to know
      • Key issues covered in this Report
        • Definition
          • Scope
            • COVID-19: Market context
              • Economic and other assumptions
              • Executive Summary

                  • Top takeaways
                    • Market overview
                      • Impact of COVID-19 on experiential marketing
                        • Figure 1: Short-, medium- and long-term impact of COVID-19 on experiential marketing, October 2020
                      • Opportunities and Challenges
                        • Multicultural consumers want the full brand experience, some are willing to pay for it
                          • Figure 2: Reasons for participating in brand-sponsored events and attitudes toward brand-sponsored events and experiences, by race and Hispanic origin, July 2020
                        • Virtual events are engaging for a few, but in-person events with any size crowd is preferred
                          • Figure 3: Expected outcomes from brand-sponsored events and attitudes toward brand-sponsored events and experiences, by race and Hispanic origin, July 2020
                        • Connection with others hinges on shared interests for most
                          • Figure 4: Attitudes toward brand-sponsored experiences and events, by race and Hispanic origin, July 2020
                        • Brands that institute safety measures for all will entice consumers to engage in-person in the “next normal”
                          • Figure 5: Re-emergence event participation considerations, by race and Hispanic origin, July 2020
                        • Artists and event venues that rely on brand sponsorships may disappear without federal support
                          • What’s next
                          • Target Audience – Key Takeaways

                            • 46% of adults aged 18-34 are people of color
                              • White and Asian young adults more likely to be affluent than Black and Hispanic young adults
                                • Multicultural young adults are concentrated in different regions across the US
                                • Multicultural Young Adults by the Numbers

                                  • Nearly half of adults 18-34 are people of color
                                    • Figure 6: US population distribution, by race and Hispanic origin, 2019
                                  • Family life impacts what events and activities draw young adults
                                    • Figure 7: US family composition among adults aged 18-34, by race and Hispanic origin, 2018
                                  • Higher education elusive for young Hispanic and Black adults
                                    • Figure 8: Educational attainment – Adults 18-34, by race and Hispanic origin, 2019
                                  • Education and professional disparities impact interests across groups
                                    • Figure 9: Household income distribution among adults aged 18-34, by race and Hispanic origin, 2018
                                  • Young adults of color population across the country impacts event attendance
                                    • Figure 10: Adult 18-34 population share by US division, June 2020
                                • Industry Landscape – Key Takeaways

                                  • Virtual events have become the norm, but young adults need more engagement
                                    • A return to sports is not the panacea as imagined
                                      • Events industry call for federal help to save their businesses
                                      • Market Perspective

                                        • COVID-19 suspends in-person experiential marketing opportunities
                                          • Figure 11: Short-, medium- and long-term impact of COVID-19 on experiential marketing, October 2020
                                        • All major sports simultaneous return to television yields less than optimal ratings
                                          • Events industry lobbies support for the RESTART Act
                                          • Market Opportunities

                                            • Offer the best of both worlds with hybrid in-person/virtual events
                                              • Figure 12: Attitudes toward brand-sponsored experiences and events, by race and Hispanic origin, July 2020
                                            • Use AR and VR to push greater interaction and engagement
                                            • Competitive Strategies

                                              • Virtual gaming cultural event draws record participation
                                                  • Figure 13: Fortnite Travis Scott Twitter recap post, April 2020
                                                • Essence communications moves its annual fete along with sponsors online
                                                  • Figure 14: Essence Festival of Culture/Ford Virtual Showroom, June-July 2020
                                              • The Consumer – Key Takeaways

                                                • Brand events are an extension of consumer trends
                                                  • Multicultural young adults turn to virtual events to remain connected to their interests and social circle during lockdown
                                                    • Hispanic and Black young adults yearn to attend events that strengthen their cultural connection, Asians look for personal growth
                                                      • Multicultural young adults mostly place safety responsibility among event producers
                                                        • Event focus is the greatest draw to brand-sponsored events
                                                          • Events allow multicultural young adults to experience brands in a fun environment with people like them
                                                          • The Multicultural Consumer and Brand Experiences

                                                            • Brand-sponsored events serve as both stimulating activity and discovery
                                                                • Figure 15: Mintel Global Trend Drivers and Pillars – Experiences, Surroundings, Technology
                                                            • COVID-19 and the Impact on Event Attendance

                                                              • Communal events top multicultural adults engagement
                                                                • Figure 16: Brand-sponsored event participation, by race and Hispanic origin, July 2020
                                                              • Designed virtual events drive engagement during lockdown, but less so than pre-social distancing
                                                                • Virtual entertainment events drew new Hispanic participants during lockdown
                                                                  • Figure 17: COVID-19 impact on event participation, by Hispanic adults aged 18-34, July 2020
                                                                • Young Black adults attempt to compensate the loss of in-person events with virtual experiences
                                                                  • Figure 18: COVID-19 impact on event participation, by Black adults aged 18-34, July 2020
                                                                • Virtual entertainment draws new Asians young adults online
                                                                  • Figure 19: COVID-19 impact on event participation, by Asian adults aged 18-34, July 2020
                                                              • Re-emergence Event Participation Plans

                                                                • A hunger for sports and cultural events will drive young Hispanics’ participation
                                                                  • Figure 20: Re-emergence event participation plans, by Hispanics aged 18-34, July 2020
                                                                • The field, the court and music are the go-to events during re-emergence for Black young adults
                                                                  • Figure 21: Re-emergence event participation plans, by Black adults aged 18-34, July 2020
                                                                • A return to the next normal is on tap among Asian young adults
                                                                  • Figure 22: Re-emergence event participation plans, by Asian adults aged 18-34, July 2020
                                                              • Event Safety Measures Expected Post Re-Emergence

                                                                • Young adults look to producers to create a sense of normalcy plus safety
                                                                  • Figure 23: Re-emergence event participation considerations – adults aged 18-34, by race and Hispanic origin, July 2020
                                                                • Hispanic young adults prioritize supplementary precautions for everyone present
                                                                  • Figure 24: Re-emergence event participation considerations, by Hispanics aged 18-34, July 2020
                                                                • Black young adults more likely to be essential workers want to ensure their safety first
                                                                  • Figure 25: Re-emergence event participation considerations, by Black adults aged 18-34, July 2020
                                                                • Asian young adults find security in producer-lead safety measures, including cleanliness
                                                                  • Figure 26: Re-emergence event participation considerations, by Asian adults aged 18-34, July 2020
                                                              • Reasons Why Young Adults Participate in Events

                                                                • Events serve as a multisensory entertainment experience for young adults
                                                                  • Figure 27: Reasons for participating in brand-sponsored events, by race and Hispanic origin, July 2020
                                                                • Hispanics in a new lifestage and related interests drive event participation
                                                                  • Figure 28: Reasons for participating in brand-sponsored events, by Hispanics aged 18-34 key demographics, July 2020
                                                                • Participation must deliver value to be worth the effort for young Black adults
                                                                  • Figure 29: Reasons for participating in brand-sponsored events, by Black adults aged 18-34 key demographics, July 2020
                                                                • Events serve as a transactional engagement for young Asian adults
                                                                  • Figure 30: Reasons for participating in brand-sponsored events, by Asian adults aged 18-34 key demographics, July 2020
                                                              • Expected Outcomes from Brand-sponsored Events

                                                                • Events offer a space to commune and share interests with like-minded people
                                                                  • Figure 31: Event expectations, by race and Hispanic origin, July 2020
                                                                • Events that help young Hispanic adults create or foster relationships deliver the greatest total experience
                                                                  • Figure 32: Event expectations, by Hispanics aged 18-34 key demographics, July 2020
                                                                • Young Black adults expect a next-level, fun shopping experience
                                                                  • Figure 33: Event expectations, by Black adults aged 18-34 key demographics, July 2020
                                                                • Young Asian adults’ newly formed independence includes new people and information found among like-minded people
                                                                  • Figure 34: Event expectations, by Asian adults aged 18-34 key demographics, July 2020
                                                              • Attitudes toward Brand-sponsored Experiences and Events

                                                                • Event value is expressed in the total experience
                                                                  • Figure 35: Attitudes toward brand-sponsored experiences and events among adults aged 18-34, by race and Hispanic origin, July 2020
                                                                • Young Hispanic adults shift from personal enrichment to cultural connections as they start families
                                                                  • Figure 36: Attitudes toward brand-sponsored experiences and events, by Hispanics aged 18-34 key demographics, July 2020
                                                                • Culturally relevant events are fun, but a more tailored, interest-focused experience is equally important to young Black adults
                                                                  • Figure 37: Attitudes toward brand-sponsored experiences and events, by Black adults aged 18-34 key demographics, July 2020
                                                                • Socialization, life experiences and a definition of value drive young Asians’ attitudes across nationality
                                                                  • Figure 38: Attitudes toward brand-sponsored experiences and events, by Asians aged 18-34 key demographics, July 2020
                                                              • Appendix – Data Sources and Abbreviations

                                                                • Data sources
                                                                  • Consumer survey data
                                                                    • Abbreviations and terms
                                                                      • Abbreviations
                                                                        • Terms
                                                                        • Appendix – Mintel Trend Drivers

                                                                            • Figure 39: Mintel Trend Drivers and Pillars

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