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Once every ten years, the United States government conducts a census of those living in the country. While many outside of politics and fields focused on population statistics might see this once-per-decade event as rather dull, census data presents a wealth of information on the changing nature of the American population. This is key information for marketers and businesses in general.
Census data provides information on which areas of the country are growing, both regionally and along the urban – rural scale; and it also provides data on self-identified racial affiliations.
America is Becoming Increasingly Diverse
For those looking for business insights from the most recent census conducted in 2020, few trends are as prominent as the increasing diversity of the American population.
An article for CNN by Janie Boschma, Daniel Wolfe, Priya Krishnakumar, Christopher Hickey, Meghna Maharishi, Renée Rigdon, John Keefe and David Wright looked closely at the recent data with a particular focus on the increase in diversity. “People of color represented 43% of the total US population in 2020, up from 34% in 2010,” they write. “The non-Hispanic White share of the US population fell to 57% in 2020, shrinking by six percentage points since 2010, the largest decrease of any race or ethnicity. The share of those who identified as Hispanic or Latino or as multiracial grew the most.”
The authors also point out that There are now seven states and territories where the non-Hispanic White population represents less than 50 percent of the population: California, New Mexico, Nevada, Texas, Maryland, Hawaii, and Puerto Rico.
The trend toward greater diversity among the American population is likely to increase further by the time of the next census. “While the under-18 population decreased during the last decade, it is rapidly diversifying,” the authors write. “Non-White US residents younger than 18 now make up 53% of the population among minors, up from 47% in 2010.”
Is Your Workplace Keeping Up?
Marketers and business professionals more broadly should pay close attention to these numbers. Those that may be lagging behind in diversity and inclusion among their workforce risk falling behind competitors that are more in tune with the increasingly diverse US population and the money they spend.
What is the demographic makeup of your workforce? Does it represent the diversity in the country or in your state? Most importantly, does it represent the diversity of your customer base or target audience?
The answers to these questions can have a big impact on your bottom line.