by Erik Sass
It’s common for mainstream advertising agencies to launch specialized shops targeting the Hispanic market, but it’s not every day you see it work the other way round. That’s what’s happening in Los Angeles, where Orci, a Hispanic ad agency founded in 1986, officially announced the launch of COR, a new agency targeting the “new general market” -- meaning the U.S. as it moves into an increasingly multicultural midcentury.
COR was created by Andrew Orci in partnership with Rich Colby, previously of Colby & Partners, with Andrew serving as CEO and Colby serving as president and creative director. Previously, Orci worked with clients including Honda, Pepsi-Cola, and Disney, while Colby’s client roster has included Disney, Suzuki, and California Avocados.
Their new agency has been operating under the radar for about a year, with clients including Cox Cable, Georgia-Pacific, and Sutter Home Winery.
Orci explained the rationale behind a multicultural, general market ad agency: “The population of the United States is undergoing a dramatic change. The minority is quickly becoming the majority. Hispanics alone accounted for more than half our nation’s growth the last 10 years. The trend is not only expected to continue, but to accelerate, which has created a ‘new general market,’ thus necessitating a new kind of agency.”
COR’s approach to the “new general market” include a proprietary account planning tool, “Total Market Mining,” that helps advertisers identify the similarities and differences between various consumer market segments, allowing them to allocate marketing dollars most efficiently.
Colby stated: “By studying the cultural similarities, as well as the differences of a target, we get to the core of what makes all consumers buy.” He added: “COR was founded to make sure nothing is left on the table. No one is left out. No one is unintentionally ignored or uninvited.”
The ethnic and cultural makeup of the American population is changing, with Hispanics playing an ever-larger role. According to the U.S. Census Bureau, the country’s Hispanic population will increase from around 50 million today to 60 million by the end of the decade, reaching 133 million by 2050. In proportional terms, that represents an increase from around 15% of the population today to 18% in 2020 and 30% in 2050.
Of course, Hispanics are just one ethnic group among many. The country’s current African-American population of 45 million is expected to increase to 65.7 million by 2050, growing from 14% of the U.S. population to 15%.
Also per the U.S. Census Bureau, there were around 18.9 million Americans of Asian heritage at the end of 2012, a 2.9% increase over the end of 2011. That’s a faster growth rate than the general population, reflecting increased Asian immigration. The proportion of Asian-Americans in the U.S. population has increased from 4.3% in 2000 to 6% in 2012, and is expected to reach 9% by 2050.
Overall, the U.S. Census Bureau forecasts that minorities will make up 54% of the U.S. population by 2050.