Marketing for household items traditionally focuses on women -- but when it comes to shopping decisions in U.S. Hispanic households, it might be men who get the final say, a new report from Mintel indicates.
The U.S. Hispanic population is growing quickly, delivering a river of revenue that is projected to reach $1.2 trillion by mid-2013, according to HispanTelligence, the research arm of HispanicBusiness. That's not a market to be taken lightly.
While only 42 percent of Hispanic men overall get the last word in shopping decisions, 55 percent of Hispanic dads are the top decision makers when it comes to household purchases. The influence also increases with age, with 54 percent of Hispanic men aged 45-64 having final say, compared to only 44 percent of Hispanic men in the 25-34 age bracket, according to Mintel, a global supplier of consumer, product and media intelligence.
Income is also a factor, with 78 percent of Hispanic men with household income of $100,000 or more having bought clothes or groceries in the past year, compared to 67 percent with household income of less than $25,000.
"Everywhere we look, marketers are directing their focus on Latinas, but brands are forgetting to talk to Hispanic men," Leylha Ahuile, senior multicultural analyst at Mintel, said in a statement.
That would be unwise, she said, pointing out that American men pitch in to take care of the kids, do the shopping and other household chores.
"By failing to reach out to Hispanic men, brands and retailers will miss out on the chance to establish themselves as the first choice among a segment of shoppers poised to gain great influence in the coming years," Ahuile added.
Two-thirds of Hispanic males believe themselves to be negatively stereotyped in the media -- something else for marketers to consider.
"This means that marketers may be missing the mark with their advertising initiatives in both Spanish- and English-language media," Ahuile said. "By having greater sensitivity to Hispanic culture, stereotypes could be omitted from ads and a higher level of engagement could be reached."
Other key points cited in the report include brand loyalty -- higher among Hispanic men than women -- and a willingness to pay more for brand names.
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