B Code Releases Its 2023 Black Consumer Fact Pack

B Code Releases Its 2023 Black Consumer Fact Pack

The Fact Pack Features an In-Depth Analysis on Current Digital Trends, Augmented and Virtual Reality and Culturally Relevant Advertising Practices to Better Serve Black Consumers

SANTA MONICA, Calif., Feb. 21, 2023 /PRNewswire/ — B Code, My Code’s digital media platform for engaging Black audiences, today released its 2023 Black Consumer Fact Pack.  The annual research report conducted by My Code’s Intelligence Center provides key insights and data, to help marketers and brands reach Black audiences with deeper authenticity while analyzing current market trends. This year’s report focuses on the digital preferences of Black consumers, including a look into the future of consumer engagement through Augmented and Virtual Reality experiences and pushing boundaries of culturally relevant advertising.

“The annual Black Consumer Fact Pack is a cornerstone of what we do at B Code. It informs direction for our clients on how they can more effectively connect with Black consumers, marrying science with creativity, says Damian Benders, General Manager of B Code. “We are seeing increased outreach to the Black audience over the past few years, however a majority of Black audiences continue to feel misunderstood. This ongoing research helps us to provide insight and guidance to marketers as they work to improve relevancy and brand trust with this audience. “

My Code’s Intelligence Center is the company’s proprietary platform dedicated to analyzing and reporting on ever-changing multicultural American consumers’ sentiments, opinions, and habits. Data was collected online from over 1,500 Black Americans representative of all main geographical areas of the United States, ages 18-64.

Key findings from the 2023 Black Consumer Fact Pack include:

Culturally Relevant Advertising – 58% of Black consumers say culturally relevant advertising makes them feel like brands understand them. When advertising demonstrates a deep understanding of Black consumers in relatable ways, it can have a stronger positive impact potential on purchase and consideration behaviors.

Multi-Dimensional Representation – As Black consumers continue to grow in influence and buying power, brands must go beyond racial or ethnic representation and consider depictions that break racial stereotypes. Effective culturally relevant campaigns also stem from the alignment of both media placement and creative, speaking to audiences within environments that understand the conversations and nuances of their audience.

Digital Media Consumption – Black consumer internet usage momentum continues to outpace the national average, while mobile phones remain the leading internet access point at 92%.  This conveys the overwhelming need for marketers to ensure optimal digital reach content experiences during campaign planning.

Augmented and Virtual Reality – 99% of Black consumers are aware of Virtual Reality with Augmented Reality awareness trailing behind slightly at 85%. These numbers highlight the importance of exploring AR and VR as an underutilized device to target Black audiences. In particular, 73% of Black consumers have a positive or very positive response to virtual reality.

The U.S. Black Population is Younger and Increasingly Diverse – Multiracial Black population has shown significant growth at +89% between 2010-2020. The median age is 33 which is 5.8 years below the total U.S. median age of 38.8.

The 2023 B Code Fact Pack can be viewed in full here.

About B Code
B Code is a data-backed digital media entity focused on understanding Black audiences in order to authentically reach, inform and connect with them in the digital spaces they embrace most. B Code’s mission is to empower brands with the right tools and resources to deliver meaningful and culturally nuanced messaging for Black audiences, backed by proprietary data intelligence. Marketing expertise, innovation, and resources make B Code one of few digital media agencies that can provide it all: Data, Media, and content solutions. The B Code publisher network also provides digital publishers with growth opportunities and access to increased ad revenue in order to dismantle investment disparities. This overall insights-driven approach provides a constant pulse on ever-changing Black American sentiments, preferences, and habits.

About My Code
My Code is the leading media company representing the multicultural landscape of America by amplifying, supporting and funding diverse publishers, creators and producers. My Code was formed following the expansion of H Code, a 2x Inc. 5000-ranked company founded in 2015, into additional demographics beyond Hispanic consumers. The company’s diverse team of marketers, sellers, researchers, and storytellers specializes in an ever-growing selection of Cultural and Affinity Codes including: A Code, B Code, W Code and Pride Code. My Code helps companies of all sizes reach millions of Hispanic, Black, AANHPI, multicultural female and LGBTQIA+ consumers with unmatched authenticity. As a minority-dominant organization, its team is dedicated to the economic empowerment of the diverse communities and audiences they represent. In 2022, the company acquired Impremedia (the leading Hispanic news publisher) and Veranda Entertainment (which distributes Spanish-language film and television content across CTV platforms) and continues to expand its portfolio to better serve brands and advertisers. For more information about My Code and its brands, please visit https://mycodemedia.com/.

Press Contact:
Mia Canales, Director of Communications
[email protected]

SOURCE My Code

My Code logo (PRNewsfoto/My Code)

Originally published at https://www.prnewswire.com/news-releases/b-code-releases-its-2023-black-consumer-fact-pack-301751346.html
Images courtesy of https://pixabay.com

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