MADISON, Wis. (12/29/11)--The credit union wants to cash in on the popularity of mobile devices such as smartphones and e-tablets. Its marketing staff targets promotion of the credit union's new, hip mobile service to the younger generation--and misses two key audiences: Asian-Americans and Hispanics.
Early adopters of the emerging mobile devices such as iPads and e-readers such as Nook and Kindle aren't necessarily the young folks, according to a study by eMarketer reported in eMarketer.com (Dec. 9). Asian-Americans are avid users of the new devices and among the first to buy tablets and e-readers. They join U.S. Hispanics as among the early adopters on new technology, the publication said.
Roughly 14.4% of Asians used tablets monthly this year, compared with 12.6% of Hispanics and slightly over 10% of blacks and whites. eMarketer predicts that in the U.S., whites won't reach the same tablet penetration as Asian-Americans until about 2014.
A study from the Center for Hispanic Marketing Communication at Florida State University also backs up the findings. In that study, 20% of English-speaking Hispanics use the mobile devices, followed by 15% of Spanish-speaking Hispanics and 14% of Asian-Americans.
Seventeen percent of both Asian-Americans and Hispanics reported owning the devices. They "are proportionately more likely to adopt these devices than non-Hispanic whites," said Felipe Korzenny, who led the Florida State study.
According to MSNBC.com (Dec. 23), digital goods were the fastest-growing category for sales online during the holiday, with e-readers and tablets among the leaders. Sales of digital goods, which also include music and videos, were up 30% from the same period last year in the days before Christmas and were expected to increase after Christmas. Amazon.com estimated that earlier this month, customers bought more than one million Kindles a week.
In other words, mobile banking will be increasing beyond cell phones, and credit unions will need to be on board early with their mobile banking as buyers look for applications for their new toys.