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‘Brands need to tap into the black pound’, says Lydia Amoah

PICTURED: Lydia Amoah

LYDIA AMOAH, a business coach and diversity advocate, has shared her views based on the portrayal of the black, asian and minority ethnic population in the marketing of brands, products and services.

New research into the ‘black pound’ has been analysed in a new report, as it underlines how brands needs to embrace diversity. Amoah’s research explores how black, asian and minority ethnics (BAME) are represented in society across the advertising and media industries, and she investigates the impact of the term BAME and its effects on an individual’s self-perceived identity and socio-economic status in British society.

The launch of the report took place last Tuesday, (Oct 30), as Amoah collaborated with M&C Saatchi, the largest independent creative agency network to launch the ‘black pound report’ to a powerful audience including creative agencies, entrepreneurs and diversity advocates where she presented her key findings.

Sereena Abbassi, Group Head of Culture and Inclusion at M&C Saatchi remarked: “Lydia Amoah’s Black Pound Report educates us by highlighting Black British buying power and the economic contributions that Black Britons have made and are making to our country.”

Some of the key findings of the report revealed:
1. 66% of the BAME consumers were not completely satisfied with the current ethnic representation on TV/adverts

2. 25% of Black and Minority Ethnicity consumers are now actively buying their Hair and Beauty Products from mainstream Hair & Beauty stores

3. 44% of Black and Minority Ethnicity Consumers spend on average £600 per annum on their hair products

4. 70% of BAME consumers feel undervalued as a consumer in the UK

5. 65% of BAME consumers acknowledged they require more access to financial knowledge

6. Over 50% of BAME consumers own homes

7. 52% of the BAME consumer earns higher than the UK’s national average income

Of her findings, Lydia Amoah highlighted the need for diversity in order for the British economy to flourish. “Diversity is the new currency and accurate representation in the advertising, media and business industries will allow Britain to flourish.”

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