Emerging segment of Christians is rapidly becoming franchised and looking for brand options
The newly identified, qualified and quantified Faith Driven Consumer market consists of more than 41 million people with $2 trillion in annual spending power. Though previously ignored by most retailers, this loyal and rapidly solidifying subset of the broader Christian market is ready to claim your brand as their own – if they find it to be compatible with their values and worldview.
Representing 17 percent of U.S. adults – a number on par with the Hispanic consumer market, though with 75 percent more annual spending power – Faith Driven Consumers are clearly differentiated from the broader Christian population and other viable target markets.
They are diverse by ethnicity, gender, age and geographical factors – but held together by the importance of their faith in every aspect of their daily lives.
While many retailers have overlooked Faith Driven Consumers in their marketing strategies, this powerful subset of Christians is quickly becoming franchised as an identifiable group and empowered to make spending decisions that will reverberate throughout the national economy.
In fact, in terms of annual US spending, the Faith Driven Consumer market segment is nearly twice the size of the African American market, 2.5 times that of the homosexual market, three times the size of the Asian American market, and ten times the size of the Muslim market.
In an age of recession—where lackluster increases in sales and market share, and tepid overall economic growth have become the norm—retailers actively pursuing the highly loyal Faith Driven Consumer market can greatly enhance annual brand results and solidify long term market share gains against competitors.
Given the market size and spending power of Faith Driven Consumers as an identifiable, untapped and cohesive group, how can you afford NOT to pursue them?