Market Summary – Ethnic & Diversity Marketing
Census predictions are forecasting that the ethnic minority group population in the UK is closer to 15% of the total UK population, up from 8% in 2001. Mainstream brands have historically not focused on specific ethnic audiences in the UK. This has partly been driven by the relative size and split of the audience and also that data was not readily available for brands and their agencies to analyse to help determine whether targeting specific audiences would deliver the desired ROI.
With the large changes in the UK population it is important for brands to build a more detailed understanding of who is consuming their product or service. By building their knowledge they will be able to understand the size of the opportunity e.g. whether they are under or over trading vs. their competitors. This audience represents a very substantial commercial opportunity for brands, but it comes with challenges because the “ethnic” title includes such a wide spectrum of cultures.
- 4.6m (8.1%) of the UK population was from ethnic minority groups at 2001 census
- 300+ languages are spoken in UK
- Ethnic minorities form 6.7% of the total working age population
- Ethnic minorities’ disposable income will be an estimated at £300bn by 2011
- Black and Asian consumers alone earn £156bn after tax
- UK ethnic minorities represent a younger marketplace, with 80% under 25 years old
- 12% of UK undergraduates are from ethnic communities
- 30.8% of London’s population is from a Black, Asian or minority group
- Ethnic minority groups represent 42.2% of the population in the 5 Olympic boroughs