CHICAGO, March 9, 2021 /PRNewswire/ -- Numerator, a data and tech company serving the market research space, has released a new reference report, The Path to Understanding, detailing consumer dynamics by race / ethnicity, including consumer share of spend, psychographics, media consumption and sentiment.
The Path to Understanding reference report provides omnichannel share data -- by race / ethnicity -- for 10 categories including beer, soda, candy, energy bars, laundry, oral hygiene, body skin care, face care, baking and butter/margarine. Data also shows share for each category by generation for each race, and by income level for each race. The large size of the Numerator superpanel enables more detailed views tied to demographics than previously available.
"Market share has been trapped in a product-lens on a subset of the market because that has been the only data available for years. It has left brands blind to the areas of the market driving growth. Numerator is now enabling brands to understand omnichannel market share by brand for specific consumer groups -- which enables brands to find and target new growth opportunities," said Eric Belcher, CEO, Numerator.
Key findings include:
Share of spend by Asian, Black/African American and Hispanic/Latino consumers increases with each generation, with Gen Z the first majority-minority generation.
Essential goods like laundry and personal care categories (face care, oral hygiene, body skin care) are at the forefront of shifting demographic consumption -- with Gen Z share of spend by Asian, Black or African American and Hispanic/Latino totaling 58% for laundry and at 62%, 55% and 60% for Body Skin Care, Face Care and Oral Hygiene, respectively.
Diverse consumers* have lower share of spend in discretionary categories like candy, soda and energy drinks.
Companies like Coca-Cola are well-poised to manage demographic shifts with brands like Sprite and Fanta that over perform with rising diverse demographics*, while Keurig Dr Pepper has opportunity with 7UP, Sunkist and Canada Dry that also outperform with these rising demographics*.
Soft Drinks Category: Top 10 Brands (by US $ Sales) Consumer Spend by Ethnicity
Black or African American
Hispanic / Latino
White / Caucasian
*Diverse consumers and rising demographics include Asian, Black or African American and Hispanic/Latino which are all increasing as a percentage of the US population.
Numerator is a data and tech company bringing speed and scale to the market research space. Headquartered in Chicago, IL, Numerator has more than 2,000 employees worldwide. The company blends proprietary data with advanced technology to create unique insights for the market research industry that has been slow to change. The majority of Fortune 100 companies are Numerator clients.