News Column

Marketing to US Hispanics - Social, Demographic, Economic and Cultural Intricacies

July 19, 2012
Marketing to US Hispanics

Research and Markets has announced the addition of the "Marketing to U.S. Hispanics" report to their offering.

This report identifies the major trends shaping the rapidly expanding Hispanic population in the US. It assesses the social, demographic, economic and cultural intricacies that the CPG industry should address in order to effectively market to them.

Hispanics are the largest ethnic minority in the U.S. 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.

Scope

- 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 U.S. 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.

Highlights

- Totaling more than 50 million in numbers, Hispanics account for 17 percent of the total US population - up from 10 million (5 percent) in 1970. Overall, Hispanics wield well over $1 trillion in buying power. Hispanics will account for more than 25 percent 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.



Source: Copyright Business Wire 2012


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