Companies that engage multicultural communities can reap huge rewards when it comes to consumer purchasing and brand loyalty, according to data from Yankelovich Monitor Multicultural Study 2010.
The study finds that Latino and Black consumers rate the importance of a company’s presence in the community through corporate social responsibility and cause-related marketing programs as more significant in their buying decisions than do non-Latino whites.
About one-third of Latino and Black consumers almost always choose brands because they come from companies that support causes they believe in, compared with just 1 in 5 non-Latino whites, the study finds.
