41 million Faith Driven Consumers are seeking relationships with retailers willing to welcome them and satisfy their differentiated needs, wants and preferences
What would you do if you learned of a rapidly emerging US market segment of 41 million people, with annual purchasing power of $2 trillion? A segment, in which 64 percent are actively seeking an alternative to their current retailer?
A powerful minority market segment of Christian consumers known as Faith Driven Consumers has been identified. Its traits, preferences and needs are clearly distinguishable from the larger Christian population and from other groups as well.
This group is diverse by ethnic, gender, and geographical factors, but is united by the importance of their faith. At 41 million, it represents 17 percent of U.S. adults, a number comparable with the Hispanic consumer segment.
Faith Driven Consumers are a significant component. Compared to other minority segments currently targeted by US retailers, Faith Driven Consumer’s spending power is significantly greater. Retailers capable and willing to connect with this group will yield major results over competitors.
Like any other market segment, Faith Driven Consumers want to connect with companies that honor their group’s specific values and consumer needs. In the case of Faith Driven Consumers, it’s their deeply held commitment to honor God in every area of their lives – not just on Sundays – but also in daily purchasing decisions.
How could a segment as significant as this go unnoticed? Perhaps they have been counted in the larger pool of Christian consumers, when in reality they are distinct and powerful in their own right.
Whatever you may have previously believed, the data proves Christian consumers are not a homogenous majority, but a diverse collection of sub segments. Faith Driven Consumers are one such segment, differentiated from others by unifying characteristics, and more importantly by the application of their faith.
What are you doing TODAY to connect with this market segment to become their preferred retailer?