The Affect of Changing Demographics

The U.S. Census Bureau is projecting a decrease in the white population in the coming years and, for the first time in the history of the United States, they will be a minority. The best marketing tactics are targeted using consumer demographics data. Marketing directly to the specific demographic that makes up the largest portion of the consumer base is one of the easiest ways to acquire new customers and retain current ones. With the population demographic changing, marketing has to adapt by using tactics that cater to this change. Products from the beauty industry are top of mind. Makeup companies will have to advertise diversity in shades, hair care companies will have to offer more range for textures, and skin care will have to be marketed to all skin shades. Minority owned companies will probably benefit from this shift because they have direct knowledge of minority needs and have more than likely been marketing to minorities and creating minority focused products. A change in the population demographic means the business world will reflect it and we will see more minority owned and led businesses.