Diversity Affluence Blog

Insight on Affluent Multicultural Consumers, Business Influencers, Diversity Innovation and Related Trends.

2014 is poised to be a productive and transformative year for entrepreneurs and businesses. I’m stating this with 100% confidence given the confluence of information that I consumed last year with everyone from leaders of iconic arts institutions to respected global consulting firm executives, events I attended launched by social impact pioneers, influencers and futurists I collaborated with.

What do you get when you mix “the establishment” with an experienced business leader who has P&L, M&A, Digital, C-suite, Marketing and Strategy experience, oh, and happens to be Black, Hispanic or Female and under 50 years old? You get Innovation of course.

In 2009 when I co-wrote Black is the New Green-Marketing to Affluent African Americans, I made a prediction. Actually, it was more of a statement that marketing executives should look to black women as an important but untapped consumer group. At that time, I was wrapping up several affluent African American (AAA) focus groups around the country that pointed to this.

Bill Gates got it right. If we want the U.S. to remain the most innovative and inventive country in the world, we have to have the best people. Immigrants are often highly motivated and ready to take advantage of every opportunity. Immigration reform would allow the best and brightest foreign students to remain in the U.S. and make their contributions here rather than in other countries.

Coors Light placed the Puerto Rican flag on their 24 oz can of beer as a way to celebrate and tie into the massive annual Puerto Rican Day Parade in New York. When the Puerto Rican community expressed anger over the act, Coors insisted that the can does not feature the Puerto Rican flag. Look at the can below and judge for yourself.

Some assume that, because millennials often socialize together therefore, there is no need to pay separate attention to different ethnic groups with marketing messages.

Smart marketers know that the African American consumer segment is not monolithic. They acknowledge that there is a segment of African Americans that is affluent. But they don’t always know how big this segment is, where they are or how to reach them.

The words “diversity and inclusion” have a negative connotation to some senior executives. Some equate diversity and inclusion to affirmative action and quotas, which can be a negative, and some think it is a “nice thing to do” for the sake of a company’s public image but that it’s not important to the business. No wonder some companies have such a long way to go!

On Tuesday, April 2nd, celebrities and titans of finance, media and law gathered for the Council of Urban Professionals’ (CUP) 6th annual Leadership Gala that recognized New York’s leading women and people of color in the private sector and nonprofit world.

Could it be that Forbes.com is the new multicultural media outlet without even trying to be? You be the judge. Over the past year I’ve been half-heartedly keeping an eye on Forbes.com and much to my surprise, am impressed with their multicultural content. As I now canvass the traditionally stodgy outlet for insight on everything from diverse influencers and women making moves to young, rich and diverse global leaders, Forbes.com has become worthy of my shrinking available time.

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