“The Future Majority” and How it will Reshape Brand Loyalty

Research released this week takes an in-depth look at the women who will reshape the future of brand expectations and loyalty. Defined in the study as “The Future Majority” (TFM), this group is comprised of Black, Latina, AAPI women and LGBTQIA individuals 40 and under.

The research reveals opportunities for marketers and companies to cultivate meaningful relationships with The Future Majority, whose members are driving spending across fashion, technology, beauty, outdoor living, travel, and investing, as well as in areas of physical and mental health. The survey finds that brands are not connecting with this sizeable, growing and influential consumer segment, missing the ability to develop a relationship with these consumers. In fact, 75% of survey respondents agreed with the statement, “I can’t name more than 5 brands that I have a deep or intimate relationship with (i.e., brand that ‘gets me’).” And, about a third (34%) of respondents are actively switching to brands that are better aligned with their values.

High-level findings:

• The future of loyalty is being defined by The Future Majority:
  • Its members are shopping activists, brand seekers, cultural influencers and brand advocates. Almost 9 in 10 (87%) say they will make it a priority to “take time to research brands, including their values and how they support communities I care about.”
  • Once they find brands that understand them, they share them with others and remain loyal customers. Seventy-seven percent of Future Majority members say, “I’m loyal to brands that demonstrate they understand me and / or my community.”
• Members of The Future Majority are looking for recognition and celebration of who they are:
  • Influence without recognition: TFM members know their communities deeply influence American culture, but feel unacknowledged (67%) and want to see them get more credit (74%).
  • TFM communities are full of joy and excellence, and they want to see that Almost 3 in 4 TFM members (74%), say their communities  cultivate their own joy, despite what the world puts them through, while 4 in 10 (43%) say brands can increase their joy in life by “giving women of color recognition where it is due.”
• TFM is raising expectations around what a “value-based” brand looks and acts like today:
  • Brands can’t afford to stand on the sidelines, as 74% of the TFM says they are experiencing a “pandemic within a pandemic,” intensified by racial inequity.
  • Discrimination is everywhere. A majority of TFM (81%) reports experiencing direct or indirect discrimination in the last 18 months.
  • TFM is looking for brands to stand up for labor/worker rights, importance of the Covid-19 vaccine, ending racial violence, social justice, and healthcare.
  • TFM’s advice for brands before standing up for issues is to get smarter, be honest, make long-term commitments and consult the community on the issue. According to the study, 87% of TFM agree that before speaking up on an issue, brands “must acknowledge past actions or mistakes.”
  • For TFM social media is not enough. Authentic allyship is demonstrated by long-term investments, employee education and political advocacy; while performative allyship is tied to social media and celebrity campaigns.
  • TFM is looking for inclusive brands, expressed not only through advertising, but fundamentally incorporated across the company. TFM expects to see women of color and LGBTQIA representation at the brand’s leadership table (81%) and incorporated into the innovation or design process of new products or services (79%).

“To build loyalty in the future with this active and engaged audience, brands should consider creating a TFM strategy that is centered around deep understanding, long-term commitments, transparent business practices, and a celebration of the joy and excellence that already exists in TFM communities,” said Libby Rodney, Chief Strategy Officer of The Harris Poll.

Photo Credit: Photo by Joel Muniz on Unsplash