Census could shape corporate strategy
The Economist reports that businesses plan to use census data to help them make decisions about where to open stores and what to stock. Target, for example, tells the magazine that it began offering more Spanish-language children’s books and hair products for African Americans after seeing data from the 2000 Census.
And due to the economy, more firms than ever are expected to utilize census data:
According to Zain Raj, the boss of Euro RSCG Discovery, a marketing firm, even more companies than normal will be poring over the census this year. The recession has made them reluctant to expand without good market data, he argues, yet it has also caused them to cut back on research, making the free census data all the more vital.
And some experts predict that this year’s data will lead more companies to push micro-targeted ad campaigns:
Peter Francese, a demographer at Ogilvy & Mather, an advertising agency, thinks the 2010 census will permanently change marketing. When companies analyse the census data, they will see that cities, and even some neighbourhoods, are so diverse now that broad advertising campaigns are no longer suitable. Mass-market advertising, he says, will become “extinct”. Marketers will instead have to focus on reaching specific households—just as the Census Bureau is preparing to do.
The Census Bureau has about 47,000 corporate partners that are helping to market the census, more than double the number in 2000, according to the Economist. It’s clear that the businesses, too, have a stake in the data.