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Reframing Black and Latine Buying Power through Asset-Oriented Lens
Overview
A cross-functional team aimed to identify current and future market opportunities through a focused lens on Black and Latine women-identifying entrepreneurial makers in the United States. To inform one of the largest e-commerce marketplaces for makers, Axle collaborated with Tallawah Consulting and Gauge Research to conduct comprehensive market sizing research. The goal was to refine marketplace strategies by understanding the purchase decisions of Black and Latine shoppers, emphasizing the significance of social impact, DEI orientation, and seller identity.
Overview
A cross-functional team aimed to identify current and future market opportunities through a focused lens on Black and Latine women-identifying entrepreneurial makers in the United States. To inform one of the largest e-commerce marketplaces for makers, Axle collaborated with Tallawah Consulting and Gauge Research to conduct comprehensive market sizing research. The goal was to refine marketplace strategies by understanding the purchase decisions of Black and Latine shoppers, emphasizing the significance of social impact, DEI orientation, and seller identity.
Deliverables
Strategic Assessement across Marketing, Branding, Product, Communications and Impact Teams
Cultural Influencer and Industry Surveys
Co-Design Charrettes with Ecosystem Builders and Platform Users
Market Sizing Calcuations and Considerations
Executive Coaching and Implementation Support
Challenges
The e-commerce marketplace needed a deeper understanding of the buying and selling preferences of Black and Latine women makers to stay competitive and socially responsible. The challenge was to quantify the market size and identify the key factors influencing purchasing decisions among these groups. The insights would not only inform current strategies but also guide future opportunities, aligning the marketplace with stronger social impact goals.
Approach
The e-commerce marketplace needed a deeper understanding of the buying and selling preferences of Black and Latine women makers to stay competitive and socially responsible. The challenge was to quantify the market size and identify the key factors influencing purchasing decisions among these groups. The insights would not only inform current strategies but also guide future opportunities, aligning the marketplace with stronger social impact goals.
Results
Our research uncovered billions in untpapped market opportunities driven by the e-commerce preferences and habits of Black and Latine women makers in the U.S. The findings highlighted the importance of integrating social impact and equity-oriented initiatives into the marketplace's strategy, leading to a more inclusive and socially responsible business model. The coaching provided to executive leadership facilitated strategic shifts across departments, ensuring that the marketplace is better positioned to capture this significant market opportunity.
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