Increased food costs are also hitting certain demographics harder than others: On average, Hispanic, Latino, and African American households spend a larger share of their income—12.5%—on food than other ethnic groups, per data from Bank of America. With food prices 8% higher than they were in February 2021, lower-income shoppers will continue to turn to retailers that can provide the most value.
Article
| Apr 1, 2022
The rationale: The authority is designed to facilitate capital for underserved businesses and other organizations, such as those run by Black and Latino community members. There are significant racial disparities in local business ownership. Green cited stats showing that 44% of the city's population is Black, but only 6% of businesses with employees in the city are Black-owned.
Article
| Mar 23, 2022
Coca-Cola said last year it would double its spend with minority-owned businesses by 2024, spending at least 8% of its ad dollars with Black, Hispanic and Asian -owned entities. Verizon has pledged to spend a minimum of 2% of its ad budget with Black-owned media. Burt’s Bees became the first brand to launch a campaign via Omnicom's Diverse Creators Network.
Article
| May 17, 2022
It found that Black and Hispanic households had higher rates of being unbanked than other groups. 11% of Black and 9% of Hispanic households were considered unbanked, compared to 3% of Asian and 2% of white households. 33% of households with annual income less than $50,000 were unbanked, versus 3% of households with annual income over $50,000. 15% of households with members of working age who had a disability
Article
| Oct 28, 2022
US bilingual and bicultural digital media platform MundoNow this summer announced the launch of a podcast network called Óyenos Audio to cater mainly to the Hispanic market. The racial makeup of monthly podcast listeners in the US is almost identical to the spread of the population, according to Edison Research data.
Article
| Sep 27, 2022
The majority of US podcast listeners (59%) are white, followed by Hispanic (16%) and African-American (16%), Asian (3%), and “others” (6%). Those numbers are almost identical to the US population demographics. The increasingly diverse audience for podcasts helps advertisers reach an even broader spread of consumers as podcast ad spending continues to grow.
Article
| May 23, 2022
Diversity representation in video advertising waned in 2022 after notable gains in 2020 and 2021: Black, Asian, and Hispanic consumers became less visible, per an analysis by video ad server Extreme Reach. But it wasn’t all bad news: The nonwhite makeup of the advertising and marketing industry improved to 32.3% in 2022 from 30.8% the prior year, per Association of National Advertisers data.
Article
| Mar 7, 2023
Its 2012 agreement with the Department of Justice, which included a payout of over $175 million to settle accusations that it discriminated against Black and Hispanic borrowers.
Article
| Mar 18, 2022
And segment-specific banks like Daylight, an LGBT+ focused affinity bank; Greenwood, geared toward Black and Latino consumers; and Majority, focused on banking for US migrants, are growing and raising funds, particularly in the US. Our fintech funding predictions: We said global fintech funding would reach a new peak in 2022 to pass $150 billion.
Article
| Dec 30, 2022
Of 74 celebrities the publication confirmed had appeared in this year’s Big Game ad spots, 22 were Black, five were Hispanic, and none were Asian American or Pacific Islander. The report also noted that LGBTQ+ representation in Super Bowl ads eased since 2020.
Article
| Mar 30, 2023
About one-quarter of Black adults (26%) and 21% of Hispanic adults said they used cash for all or almost all of their purchases in a typical week. Only 12% of white adults reported the same. Forty-five percent of adults under 50 said they try to always have cash on hand, compared with 71% of adults ages 50 and up. What it means: Cash remains an important payment method for many in the US.
Article
| Oct 7, 2022
Chart
| Sep 19, 2023
Source: Data for Progress; American Economic Liberties Project; Fight Corporate Monopolies
Chart
| Sep 19, 2023
Source: Data for Progress; American Economic Liberties Project; Fight Corporate Monopolies
A prominent example is Greenwood, which caters to Black and Latino Americans. After its 2020 launch, the neobank acquired social network The Gathering Spot and began offering community collaboration spots such as workspaces, meeting rooms, event spaces, a restaurant, and a bar.
Article
| Feb 15, 2023
That could help explain why white and wealthier people trust their physicians more than Black, Hispanic, and lower-income individuals, per a May 2021 NORC at the University of Chicago survey. Earning consumers’ trust back: The provider-patient relationship was eroding before the pandemic, but COVID-19 added further tension around it.
Article
| Nov 3, 2022
It also set a number of DEI-related goals, such as increasing Black and Latino representation among its managers by at least 50%. Target launched a Black History Month collection of products, in addition to the Black Beyond Measure hub on its website that showcases products from Black-owned brands that are part of its everyday assortment.
Article
| Feb 25, 2022
Nearly 3 in 10 (26%) Gen Alpha consumers are Hispanic (compared with 19% for the general population) and 7% are two or more races (versus 3% for the overall population), according to US Census Bureau data. What it means for marketers: This generation expects the diversity they see in their peers to be reflected in marketing efforts.
Article
| May 2, 2023
And over the last 15 years, 42% of US cancer trial cohorts lacked African American patients, and 48% had no Hispanic American patients, per research from clinical trial database Phesi. Epic isn’t the only EHR company to be addressing clinical trial access. Cerner has a Learning Health Network (LNH) database, in which 85 diverse US health systems share data on de-identified patients.
Article
| Sep 19, 2022
Incumbents also face pointed competition from niche-targeted neobanks that promote social justice as a key part of their identity, like Greenwood, which specifically caters to Black and Latino customers.
Article
| Apr 15, 2022
For example, Greenwood Bank is building a strong community for Black and Latino consumers, and Guava is providing more lending options to Black business owners. This article originally appeared in Insider Intelligence’s Banking Innovation Briefing—a daily recap of top stories reshaping the banking industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily. Are you a client?
Article
| Feb 9, 2023
Targeting places where the population is either at least 1% non-English speaking, at least 20% Black or Hispanic, or at least 10% Asian American, Polish, or Russian. TD’s concept, at a glance: The Canada-based banking giant recently opened a flagship branch in New York City’s One Vanderbilt, per Insider, adding that it’s also the skyscraper’s anchor tenant.
Article
| Jan 18, 2022
When it came to picking brands based on their sustainability bona fides, the Stifel/Morning Consult study found males cared more than females, Gen Z cared more than millennials and Gen Xers, and Black consumers care more than Hispanic and white consumers.
Article
| Apr 20, 2022
Article: Anda rewards program offers Hispanic users an easy onramp to crypto.
Article
| Jan 13, 2022
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| Sep 7, 2023
Source: American Psychological Association (APA)
People of color and other underserved groups historically fare worse than their socially advantaged counterparts across many measures of health status, so it is unsurprising that Black, Hispanic, and Asian patients have significantly higher rates of COVID-19 infection, hospitalization, and death compared with white patients.
Report
| Dec 10, 2021