Impeccably coiffed and donning a pair of Louboutins, she exudes style. She’s confident, unapologetically sexy, and decidedly lives an indulgent lifestyle because she knows that she deserves it. And more importantly, she has earned it. Even though she is just as chic and well-groomed, do not confuse her with her well-heeled counterparts, as her fashion sense and lifestyle are an intricate blend of her innate style, firmly rooted in her culture with an haute twist. Just like youth culture today, she is an amalgamation of various cultural elements. She’s multi-faceted, and her style is indicative of that. She has Jay-Z, Green Day, and Nina Simone on her I-pod playlist with a mix of old school reggae tunes or perhaps some classic Tito or Celia that reminds her of abuelita’s house. She’s a Sex and The City devotee and TiVos Girlfriends when she’s working late. It’s her hip-hop-meets-glamour aesthetic that inspired Carrie’s bamboo hoop earrings and name-plate chain and a plethora of trends that mainstream fashion has embraced. She wears a sari with her Sass & Bide jeans and carries jade beads in her Fendi spy bag for good luck. In sum, she’s fabulous. She turns head and commands attention from everyone but those who stand to benefit from her the most: luxury brand marketers.The affluent set of women of color is growing at a rapid speed. Multicultural women make up almost one-third of the American female population at large, and their buying power exceeds $700 billion annually. Recent studies have shown women of color to be more compelled to succeed, as they are increasingly seeking advanced degrees, delving into entrepreneurial ventures, earning top dollar, and so on. These trends have given birth to the young and striving aspirational set of woman of color, and she is building wealth, working hard, playing harder, and enjoying the fruits of her labor. With so much more disposable income, it stands to reason that luxury marketers should not leave this market untapped. Not to mention the new aspiring woman’s spending habits are far less conservative than those of the older affluent woman of color. According to Packaged Facts, African American women’s spending power alone will increase by 32% over the next five years.
But figures aren’t everything when it comes to the fabulous quotient; it’s more about understanding attitudes. Women of color, affluent or otherwise, place a high premium on shopping for designer labels and looking good. They express a strong sense of brand loyalty unlike any other market. Nevertheless, in all her fabulousness, the luxury market, particularly high-end fashion houses and accessory brands, are reluctant to pursue her when there are a number of indicators that show otherwise. For instance, studies have shown African American to be more receptive to advertising messages of all forms, yet very few luxury ads speak directly to African American women as valued consumers, and African American women are undeniably underserved in media. According to a study on various socio-behavioral segments of the African American consumer performed by Burrell Communications, in order for companies to reach [impact] the core segment of upwardly mobile African Americans, those who live and work in a more mainstream environment, but seek to retain their cultural identity and allegiances, luxury marketers must appeal to them through a broader range of campaigns and strategies generally reserved for the dominant market, but are personalized for them. [Brand Noise]
For those marketers who are savvy enough to stake claim in this market, understanding the aspirational women of color and marketing the right way are important. Here a few key points to ensure that your marketing efforts will be on target:
1. Understand that women of color are women first. There are certain themes that resonate with women regardless of race or ethnic background. Take for instance the appeal of Sex and The City. None of the major characters were women of color. In fact, very few if any episodes featured women of color. Even so, STC was just as popular among multicultural women because of the show’s thematic structure. Love, career, friendship, fashion, metropolitan living, aging, motherhood, et al. are universal. Before developing your marketing initiatives, brainstorm by creating an inverted pyramid beginning with what women want--their utmost desires. Then narrow it down to women of color. What does your product symbolize? How does it help women of color get to where they aspire to be? What about your product specifically caters to their needs?
2. Know your audience. Although this seems pretty basic, many marketers fail to intimately get to know women of color. Authenticity is key as it pertains to visual and audio elements. You do not want to end up alienating your audience as a result of using exaggerated slang, drawls, or stereotypical images which will result in ineffective (and tasteless) caricatures.
3. Know how to [effectively] reach them. This will save your company tons of resources. Since women of color have been traditionally ignored in various aspects of society, they rely heavily on other women of color to be trusted sources of information, viral marketing strategies should be an integral part of your campaign. Make an effort to establish a presence at events these women of color frequent such as sorority conventions, charities that address the need of their communities, professional organizations, etc.
4. Know the importance of psychographics. Psychographics may very well be more important than demographics, as traditional demographics do not provide accurate lifestyle insight. Understanding the aspirational woman’s mindset and knowing what drives them to make certain purchases is very important. Fabulous Tips: Did you know that African American women are more likely than white women to influence household spending? In Asian culture, powerful women gravitate toward girlish accoutrements such as Hello Kitty mobile phone ornaments because she wants to appear soft on the outside and like iron on the inside. [JTWorldwide]
5. Consult an expert. These emerging markets of both affluent and aspirational women of color remain very elusive, but breaking in effectively is not a huge undertaking if spearheaded by the right individual. Consult with someone or an agency that is very tune with women of color. Make sure your team is ‘in the know’ and above all, fabulous.
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