Hispanics are the largest ethnic minority in the US. As a young, bilingual and urban population accounting for over half of US population growth, Hispanics have assumed more economic influence. Culturally targeted products and marketing has the potential to highly influence their choice. But a deeper cultural connection only comes from a better understanding of the evolving Latino consumer.
Features and benefits
- A salient socio-demographic snapshot of US Hispanics – pinpointing their size, location, consumption clout, and ethnic affiliation.
- A detailed assessment of the core cultural commonalities, and acculturation differences, affecting US Hispanic lifestyles and consumption preferences.
- Exploration of Hispanics’ technology and media use and the implications to penetrate the fragmented nature of their media consumption.
- Well over 50 examples of best-practice NPD and marketing campaigns from multiple consumer product formats.
Totalling more than 50 million in numbers, Hispanics account for 17% of the total US population – up from 10 million (5%) in 1970. Overall, Hispanics wield well over $1 trillion in buying power. Hispanics will account for over 25% of the overall US food market by 2015. The Hispanic retail food market more than doubled between 2005 and 2010.
Effectively marketing to Hispanics is challenging given their considerable diversity. Above average poverty still characterizes Hispanic lifestyles, in spite of rising incomes, education access and employment opportunity. A majority also say that marketing does not effectively depict their ethnic values.
The online world provides a fertile ground for engaging marketing messaging. Approaching two-thirds of Hispanics are online. They are more frequent users of social media than the general US market – taking advantage of their bilingual abilities to use, access and enjoy widening media options in both Spanish and English.
Your key questions answered
- How large is the Hispanic market? How does it vary across the consumer packaged good sectors? What are the growth scenarios?
- How do I reach and successfully engage Hispanics? To what extend do I need to differ from general market campaigns? What is the optimal marketing mix?
- How important is ethnicity and the Hispanic/Latino ethnic identity? To what extent does ethnic identity shape their attitudes and behaviors?
- How are other consumer packaged goods companies targeting the expanding Latino market? What can I learn from existing best practice?