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Buying Power report: Blacks spend as economy grows
New 16th edition shows $507 bil in spending

The finding comes from the 16th annual edition of "The Buying Power of Black America" report. In 2009, black households spent an estimated $507 billion in 27 product and services categories. ...

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Walmart exec tells ANA conference retailer intends to double multicultural budget

(October 31, 2012) Walmart grabbed the main spotlight at last week's Association of National Advertisers' Multicultural Marketing and Diversity conference with an announcement that it plans to at least double its current spending to advertise to Black, Hispanic and Asian consumers.

As reported in Advertising Age, Tony Rogers, Senior Vice President of Brand Marketing and Advertising told the audience that "One hundred percent of the growth [in sales] is going to come from multicultural customers." The retailer intends to de-centralize ethnic marketing from its individual silos and make the practice an integral part of everything it does to touch consumers.

From now on, said Rogers, Walmart's multicultural advertising agencies won't have to wait for the general market strategy to unfold before they can get to work. They will instead have a "seat at the table" when the marketing conversation begins.

Walmart is currently the 14th largest advertiser in Black media spending, according to a forthcoming report from Target Market News. In 2011 it placed $18.3 million in African-American targeted ads through measured media. That represents a drop of 12.4% from the 2010 spend of $20.9. GlobaHue is Walmart's African-American agency of record.

As part of the new approach, Greg Warren, Walmart's VP of Creative Marketing is reported as saying that supplier diversity will also be impacted. "We had a supplier who was convinced their audience was Caucasian women," he said. "We were able to show them that 40% of their business came from multicultural consumers."

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Black TV Ratings for Week of October 15 - 21 Black TV viewers turning their attention more to politics than the usual programming

TV One CEO Wonya Lucas to leave company, Alfred Liggins to assume duties

Second discrimination suit filed against Starcom MediaVest

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Andrew Brimmer, first Black board member of the Federal Reserve, dies at 86

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LAGRANT Foundation to award quarter of a million dollars to marketing, PR students

Russell Simmons' new YouTube channel to feature content for diverse millennials

BET sets records with 'Hip Hop Awards' and 'Keyshia & Daniel'

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