From the course: Consumer Behavior Trends: Meet the Postmodern Consumer
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Consumers are eager for diversity
From the course: Consumer Behavior Trends: Meet the Postmodern Consumer
Consumers are eager for diversity
- The rapidly growing diversity of U.S. culture is one of the most important drivers of change in this century. Over the next 45 years, the U.S. Census Bureau expects the Hispanic population to more than double. And the Asian population will double during the same time period. Well over 25 million Europeans belong to an ethnic subgroup today. In several European countries, such as France, Belgium, and Germany, they already collectively account for around 10% of the total population. It's easy to point to companies that have prospered by developing offerings that appeal to distinct racial or ethnic subcultures. But today, diversity is more about inclusiveness than it is about catering to a specific subculture. A recent success story is a brand owned by the singer Rihanna. The Fenty Beauty line offers 40 shades of foundation that cover the skin tone spectrum from albino white to dark chocolate. Fenty's success provides…
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