As we all wind down the year, My Code investigated how diverse and multicultural consumers are approaching this holiday season and how they have adjusted their shopping habits.
Our research highlights opportunity areas for retailers and brands to more effectively establish meaningful reach during the highest new customer acquisition period of the year. The biggest hurdle for brands is to understand the nuances in how people think about and plan to shop this season because a one-size-fits all approach for this diverse consumer base doesn’t work.
My Code’s research explores how multicultural and diverse consumers view holiday shopping with a focus on helping brands understand how to adapt and deepen customer relationships to bolster short & long-term business goals.
- 83% of U.S. adults have purchased, or have plans to purchase, gifts this year and gifting is a year-round occasion
- 4 of the top 5 gifting occasions across the total market are culture-agnostic - but even in these moments, diverse shoppers are more likely to be in market than the average U.S. shopper
- Roughly 7-in-10 diverse shoppers plan to spend the same or more on holiday gift purchases in 2023 compared to last year
- Just over 6-in-10 multicultural adults and 7-in-10 openly LGBTQIA+ adults are more likely to consider shopping at retailers when they feel understood