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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
JCK LAS VEGAS 2015 5 | 2 8 | 2 0 1 5
P R E P A R E D B Y
CAPTURING
YOUNG, AFFLUENT, MULTICULTURAL SHOPPERS
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 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
WHY MULTICULTURAL MILLENNIALS
4 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
CURRENT JEWELRY BUYER: “A married person between the ages of 55 and 64
years old who lives in an urban area in the Midwest
with a population of 1–2.5 million. This person has a
bachelor's degree, works as a manager or professional,
has a spouse who also works, and their joint annual
income is $150,000 or higher. They own a house and
have a mortgage. According to the survey, this person
is white and has no children.” - The 2014 US Jewelry State of the Market Report ,
Edahn Golan Diamond Research & Data - Bureau of Labor Statistics
5 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
MAJORITY OF FUTURE GROWTH IS DRIVEN BY HISPANICS
6 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
Source: U.S. Census
TIPPING TOWARD A WHITE MINORITY
7 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
Found in: Nielsen – The Mul1cultural Edge: Rising Super Consumers
OVER 106 CITIES ACROSS US NOW MINORITY-MAJORITY MARKETS INCLUDING 22 MAJOR MARKETS
8
MINORITY BUYING POWER
REACHING NEW HEIGHTS, OUTPACING INFLATION
HISPANIC $1.3T (+155%) AFRICAN-AM $1.1T (+86%) ASIAN $770B (+45%) NATIVE AM $100B (+149%)
YEARS OF EFFECTIVE BUYING POWER STRONGEST AMONG MULTICULTURAL CONSUMERS
9 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
TOMORROW’S JEWELRY
BUYER: MILLENNIALS • Ethnically and racially diverse – 19%
Hispanic, 14% African-Am, 4% Asian,
3.2% Mixed Race/Other, 60% White,
Non-Hispanic
• Entering critical life stages/
milestones – commitment/marriage,
children, financial security, personal
achievement & personal reward
10 SOURCE: 2015 Survey of Affluence and Wealth, Time Inc. and YouGov.
AFFLUENT MILLENNIALS DRIVING SPENDING ACROSS ALL LUXURY CATEGORIES
11
MACRO-TRENDS
KEY CONSIDERATIONS
URBAN RENAISSANCE
MULTICULTURAL AFFLUENTS
CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
12 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION 12
RE:GENERATION
13 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
Found in: Nielsen – The Mul1cultural Edge: Rising Super Consumers
RE:GENERATION A Generation that re-imagines, re-appropriates, re-defines and re-vitalizes their world.
14 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
15 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
THEIR OASIS, A PLACE OF CONSTANT
DISCOVERY
OPTIMISM RUNS HIGH FINANCES FOLLOWS
16 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
17 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
RE:GENERATION DRIVES & IS 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".
18 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION 18
MULTICULTURAL AFFLUENTS
19 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
BY THE NUMBERS 1.5M affluent ($150k+ HH income) multicultural households $400B combined income $104B affluent Hispanic purchasing power $90B affluent African –American purchasing power Higher proportion of Asian Americans HH earning $100K compared to Non-Hispanic
20 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
DESIRE TO ASPIRE Devote much of their disposable income to affordable luxuries Represent expression of freedom and accomplishment Limited edition or one-of-a-kind items highly desirable Diamonds remain a central part of wedding ceremonies in many Asian cultures Active philanthropists and participants in cultural business and society organizations – e.G. Council of Urban Professionals, Hispanic Federation and Sigma Pi Phi Fraternity
21 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION 21
ACTIONABLE WAYS TO
ENGAGE
22 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
WAYS TO ENGAGE
• GO BEYOND THE MIRROR
• DON’T TELL THEM WHAT OR WHEN TO BUY
• SHARE YOUR STORY
• CHANGE THE RULES OF MARKETING: REACH • RELEVANCE • REPUTATION • RELATION • REFERRAL
23 CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
JOIN THEIR CONVERSATION
QUESTIONS?
CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
THANK YOU FROM YOUR FRIENDS AT
CONFIDENTIAL-PROPERTY OF MERCURY MAMBO NOT TO BE REDISTRIBUTED WITHOUT PRIOR PERMISSION
FOR MORE INFORMATION CONTACT: LIZ@MERCURYMAMBO.COM
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