{"id":51553,"date":"2024-07-29T10:47:21","date_gmt":"2024-07-29T14:47:21","guid":{"rendered":"https:\/\/seramount.com\/?p=51553"},"modified":"2025-12-08T17:26:57","modified_gmt":"2025-12-08T22:26:57","slug":"from-workplace-to-marketplace-dei-and-the-future-of-the-customer","status":"publish","type":"post","link":"https:\/\/seramount.com\/articles\/from-workplace-to-marketplace-dei-and-the-future-of-the-customer\/","title":{"rendered":"From Workplace to Marketplace: DEI and the Future of the Customer"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-customer-centric-dei-engaging-the-customer-of-the-future\"><strong>Customer-Centric DEI: Engaging the Customer of the Future<\/strong><\/h2>\n\n\n\n<p>Rapidly changing customers present both challenges and opportunities for DEI leaders and their businesses. B2C, B2B, and nonprofits alike can prosper by adapting their products, services, and experiences to engage the customer of the future\u2014whether that\u2019s a patient, client, shopper, or consumer.<\/p>\n\n\n\n<p><em>The key: truly understanding your diverse customers\u2014as much as yourselves as consumers.<\/em><\/p>\n\n\n\n<figure class=\"wp-block-pullquote is-style-coral_large_quote\"><blockquote><p>The fan base of yesterday is not the fan base of tomorrow.<\/p><cite><a href=\"https:\/\/www.linkedin.com\/in\/esumaat\/\">\u2014Esu Ma\u2019at, Chief Diversity, Equity, and Inclusion Officer, Orlando Magic<\/a><\/cite><\/blockquote><\/figure>\n\n\n\n<p>This research explores best practices for expanding DEI\u2019s impact by integrating customer- centric DEI across your organization to create a more inclusive ecosystem that directly impacts your bottom line. To begin understanding the story of DEI and the customer of the future, it\u2019s imperative to think deeply about changing demographics and preferences.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-growing-diversity-of-the-u-s-consumer-base\"><strong>Growing Diversity of the U.S. Consumer Base<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Multicultural consumers already account for nearly 40% of the U.S. population.<\/li>\n\n\n\n<li>The U.S. Census Bureau projects that the number of Black, Latine, and Asian consumers will increase by 2.3 million each year until becoming a numeric majority.<\/li>\n\n\n\n<li>By 2030, the non-Hispanic White population is expected to fall to 55.8%. <\/li>\n\n\n\n<li>By 2045 the U.S. will become \u201cminority-white.\u201d<\/li>\n<\/ul>\n\n\n\n<p>The growing weight of these statistics is increasingly influencing leaders in business, government, and even the media, amplifying the importance of the DEI imperative.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-intersectionality-continues-to-grow-in-importance\"><strong>Intersectionality Continues To Grow in Importance<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The fastest-growing racial or ethnic group is those who are biracial or multiracial, a group that will likely experience 200% growth by 2060.<\/li>\n\n\n\n<li>These tectonic shifts emphasize the growing complexity of consumer identity and the growing need for customer-centric approaches to DEI.<\/li>\n<\/ul>\n\n\n\n<p><em>Sources: US Census Bureau, Association of National Advertisers, Brookings Institution<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-demographics-shifts-are-inextricably-linked-to-evolving-consumer-needs-and-preferences\"><strong>Demographics Shifts Are Inextricably Linked to Evolving Consumer Needs and Preferences<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Today\u2019s consumers expect personalized experiences, customization options, and brands aligned with their DEI values.<\/li>\n\n\n\n<li>Traditional demographic segmentation is no longer enough: consumers\u2019 ethical commitments and mindsets are becoming vitally important.<\/li>\n\n\n\n<li>Customers are increasingly prioritizing social responsibility and value.<\/li>\n\n\n\n<li>Online campaigns with better representation generate higher ad recall.<\/li>\n\n\n\n<li>Global consumers are increasingly emphasizing accessible content and language inclusivity.<\/li>\n<\/ul>\n\n\n\n<p><em>Sources: Meta, Deloitte, McKinsey<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-does-dei-matter-in-this-context\"><strong>Why does DEI matter in this context?<\/strong><\/h2>\n\n\n\n<p>Because inclusion is not only critical to making the case for DEI now; it\u2019s also key to engaging the customer of the future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-dei-addressing-the-evolving-consumer-landscape\"><strong>DEI: Addressing the Evolving Consumer Landscape<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>67% of consumers say it\u2019s important that brands act to promote DEI<\/li>\n\n\n\n<li>46% of consumers go out of their way to choose brands with explicit commitments to DEI<\/li>\n<\/ul>\n\n\n\n<p><em>Source: Amazon<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-consumers-value-personalized-authentic-experiences\"><strong>Consumers Value Personalized, Authentic Experiences<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>77% view customer experience to be as important as product quality<\/li>\n\n\n\n<li>140% more spent by customers with excellent brand experiences<\/li>\n\n\n\n<li>80% of consumers are more likely to make a purchase when brands personalize experiences<\/li>\n<\/ul>\n\n\n\n<p><em>Sources: Forbes, HBR, Epsilon<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-customer-centric-dei-engaging-the-values-based-consumer\"><strong>Customer-Centric DEI: Engaging the Values-Based Consumer<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Over 50% of consumers will switch to a competitor after a single unsatisfactory experience <\/li>\n\n\n\n<li>82% of consumers want a brand\u2019s values to align with their own<\/li>\n\n\n\n<li>92% of customers are more likely to make a repeat purchase after a positive experience<\/li>\n\n\n\n<li>42% of consumers from underrepresented groups would switch to a company committed to DEI<\/li>\n<\/ul>\n\n\n\n<p><em>Sources: Zendesk, Salesforce, Harris<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-dei-on-the-front-lines\"><strong>DEI on the Front Lines<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>75% of businesses with diverse frontline decision-making teams exceed financial targets.<\/li>\n\n\n\n<li>When done right, inclusive hiring practices ensure a representative face of the organization.<\/li>\n<\/ul>\n\n\n\n<p><em>Source: Gartner<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-dei-and-risk-mitigation\"><strong>DEI and Risk Mitigation<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>60% of retail shoppers have experienced discriminatory treatment<\/li>\n\n\n\n<li>40% of consumers report experiencing discrimination based on their race or skin color, including being followed by staff, ignored, denied discounts, and mistaken for sales associates<\/li>\n\n\n\n<li>65% of customers think stores fail to deliver an equally distributed assortment of products catering to different shoppers\u2019 tastes and preferences; those with disabilities face significant barriers and particularly limited choices when making everyday purchases<\/li>\n<\/ul>\n\n\n\n<p><em>Sources: Sephora, Racial Bias in Retail study<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-risks-of-divesting-in-dei\"><strong>Risks of Divesting in DEI<\/strong><\/h2>\n\n\n\n<p>Significant risks come with abandoning DEI in a time of increased pushback and market uncertainty.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote is-style-coral_large_quote\"><blockquote><p>When we\u2019ve had to fail fast and learn fast or were called out by our fans, it\u2019s often been because we didn\u2019t have the right voices at the table or the necessary representation&#8230;We want to ensure that we\u2019re mitigating risk because we\u2019re having the conversations.<\/p><cite><a href=\"https:\/\/www.linkedin.com\/in\/jennvasquez\/\">\u2014Jennifer Vasquez, VP, Diversity, Equity and Inclusion, Golden State Warriors<\/a><\/cite><\/blockquote><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-customer-centric-dei-from-the-vicious-to-the-virtuous-cycle\"><strong>Customer-Centric DEI: From \u201cthe Vicious\u201d to \u201cthe Virtuous\u201d Cycle<\/strong><\/h2>\n\n\n\n<p>Avoiding the \u201cvicious cycle\u201d of misalignment between employee and customer-facing inclusion means strategically engaging, investing in, and aligning with customer-centric DEI practices.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-virtuous-cycle-mutually-reinforcing-talent-and-customer-centric-dei-efforts\"><strong>The Virtuous Cycle: Mutually Reinforcing Talent and Customer-Centric DEI Efforts<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>There\u2019s no richer source of knowledge and inspiration than your diverse customer base; the most successful DEI initiatives involve collaboration between brands and their diverse customers.<\/li>\n\n\n\n<li>Internal- and external-facing DEI efforts are mutually reinforcing, generating a \u201cvirtuous cycle\u201d rooted in continuous feedback and engagement.<\/li>\n\n\n\n<li>Improvements in inclusive workforce outcomes create a more welcoming environment for customers; at the same time, customer insights can drive DEI innovation.<\/li>\n\n\n\n<li>Under the right conditions, employees become customers and customers become employees, boosting morale and retention while creating brand ambassadors.<\/li>\n<\/ul>\n\n\n\n<p><em>Source: Forbes<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-5-key-actions-to-undertake-to-advance-customer-centric-dei-across-the-organization\"><strong>5 Key Actions To Undertake To Advance Customer-Centric DEI Across the Organization<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\" start=\"1\">\n<li><em>Understand your customer base:<\/em> Conduct surveys and gather data to understand your current and potential customers.<\/li>\n\n\n\n<li><em>Diversify your customer experience team:<\/em> Hire a team that reflects the diversity of your customer base.<\/li>\n\n\n\n<li><em>Train your employees on DEI:<\/em> Ensure employees are equipped to handle interactions with customers from a broad range of backgrounds.<\/li>\n\n\n\n<li><em>Personalize the customer experience:<\/em> Use data to tailor marketing messages and service interactions to individual needs.<\/li>\n\n\n\n<li><em>Market authentically:<\/em> Ensure marketing materials reflect the diversity of your customer base.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-5-key-impact-areas-and-business-benefits-customer-driven-dei\"><strong>5 Key Impact Areas and Business Benefits: Customer-Driven DEI<\/strong><\/h2>\n\n\n\n<ol class=\"wp-block-list\" start=\"1\">\n<li><em>Improved customer loyalty:<\/em> Customers feel valued and understood when businesses reflect their diversity. Research has consistently shown that companies with diverse staff are seen as more in tune with their customers and their needs.<\/li>\n\n\n\n<li><em>Enhanced creativity and problem-solving:<\/em> Diverse teams bring new perspectives, leading to better solutions for a wider range of customers.<\/li>\n\n\n\n<li><em>Reduced bias:<\/em> A focus on DEI helps employees avoid stereotypes and biases that can negatively impact customer interactions and the brand.<\/li>\n\n\n\n<li><em>Risk management:<\/em> A diverse customer base mitigates risk and creates a broader market reach.<\/li>\n\n\n\n<li><em>Market expansion:<\/em> Organizations can tap into new customer segments by understanding and catering to their unique needs.<\/li>\n<\/ol>\n\n\n\n<p><em>Sources: Intuit, US Department of Defense, Aum, L.J. Aft\u00e9n, \u201cEmbracing Customer Diversity: Unlocking Market Expansion and Sustainable Business Growth\u201d<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-looking-ahead-the-future-of-dei-and-success-in-a-changing-world\"><strong>Looking Ahead: The Future of DEI and Success in a Changing World<\/strong><\/h2>\n\n\n\n<p>To be sure, there\u2019s noise surrounding recent headlines on DEI pushback. But as we look to the future of the customer and the employee, DEI\u2019s impact and importance will steadily increase. As demographics shift, businesses must stay attuned to changing consumer and employee needs and preferences.<\/p>\n\n\n\n<p><em>To learn more about how Seramount can help you expand the impact of your DEI efforts, <\/em><a href=\"https:\/\/seramount.com\/contact-us\/#:~:text=Fill%20out%20the%20form%20below,form%20for%20the%20fastest%20response.&amp;text=How%20Can%20We%20Assist%20You%3F\"><em>contact us<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Customer-Centric DEI: Engaging the Customer of the Future Rapidly changing customers present both challenges and opportunities for DEI leaders and their businesses. B2C, B2B, and nonprofits alike can prosper by adapting their products, services, and experiences to engage the customer of the future\u2014whether that\u2019s a patient, client, shopper, or consumer. The key: truly understanding your [&hellip;]<\/p>\n","protected":false},"author":8080,"featured_media":51554,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[366,11,640],"tags":[57],"class_list":["post-51553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dei-strategy-and-measurement","category-future-of-work","category-talent-management-recruitment-and-retention","tag-policy-and-legal-compliance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.5 (Yoast SEO v26.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>From Workplace to Marketplace: DEI and the Future of the Customer | Seramount<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seramount1stg.wpengine.com\/articles\/from-workplace-to-marketplace-dei-and-the-future-of-the-customer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From Workplace to Marketplace: DEI and the Future of the Customer\" \/>\n<meta property=\"og:description\" content=\"Customer-Centric DEI: Engaging the Customer of the Future Rapidly changing customers present both challenges and opportunities for DEI leaders and their businesses. 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