The pace of globalization is accelerating, to the extent that half of customers for U.S. businesses will come from overseas by 2025. Meanwhile, three-quarters of Internet users already speak a language other than English, with that percentage expected to grow.
This reality could pose a stumbling block for some businesses. According to The Economist, nearly half of 572 senior executives interviewed said that misunderstandings and “messages lost in translation” have stalled major international business deals for their companies. More than 60 percent of these executives also said that poor communication skills have negatively affected their plans to expand internationally.
As organizations try to adapt to this new reality and optimize their language-access strategies, most are asking: Which business languages are the most important?Read More
If you think it’s difficult to define your typical customer now, imagine what it will be like 20 years from now.Read More
International visitors to the United States spent nearly $150 billion in the first half of the year, setting 2017 on a record pace.
Optimistic as these numbers are, it may also be true that American hospitality businesses are leaving money on the table by failing to provide travelers with an end-to-end travel experience in their own language, despite the technology existing to do so. In fact, American businesses could sustain the interest of these travelers and maintain their loyalty by providing an enhanced in-language experience.Read More
When we say "Asian-American," we are saying a lot. The U.S. Asian population is a diverse one. A record 20 million Asian-Americans trace their roots to more than 20 countries in East and Southeast Asia and the Indian subcontinent. Each has a unique history, culture, language, and other characteristics.
Understanding these subtleties is essential to any business that seeks to increase its audience within the U.S. Asian community, which projects to be the nation’s largest immigrant group, surpassing Hispanics by 2055.Read More
“Minority” consumers won’t be in the minority for much longer in the United States. Asian-Americans, African Americans and Hispanics already make up a majority of the population in four states and the District of Columbia, and several other states are nearly there. By 2055, the U.S. will not have a single racial or ethnic majority, according to the Pew Research Center.
Given the current size and future growth of these consumer groups as a larger part of the market and growth opportunities, market research firms are making a careful study of the buying habits of multicultural consumers. Paying attention to multicultural buying habits, as well as the media and cultural preferences of these populations, will benefit retailers now and in the future, as these statistics show.Read More