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contact: Roberto Gomez at rgomez@vertisinc.com

The Many Faces of Your Hispanic Consumer

The U.S. Hispanic market is booming. Hispanic households across the United States will sharply increase their economic clout over the next ten years. The demographic explosion has continued since 1990 and there is no let up. Go to Wal-Mart, Sears, K-Mart, to name a few stores, and you will see many Hispanic families loaded with consumer goods. The fact is, Hispanics love to buy and almost always buy in cash.

Unlike its U.S. counterpart, the Hispanic household is younger, with the head of household anywhere between 25 and 44 years old. Once again, the Conference Board's Research Center states that the under 44 Hispanic market is going to grow from a purchasing power of $295 billion in 2008 to $397 billion by 2010.

So to marketers everywhere, all the signs are there. The opportunity is growing, now is the time to start reaching out to Hispanic consumers with messages targeted to their lifestyles and buying habits.

I just give a presentation in Miami for a client in January that can be download at www.linkedin.com/in/rgomezjr under rgomezjr resources center it cover 3 things to learn about our Hispanic consumer:

1.) The size of the Hispanic consumer market, and it’s shopping habits

2.) How to connect and communicate with Hispanic consumer market

3.) Marketing strategies to get measurable results

The Internet is a Growing Destination for Hispanics

The Internet is a growing destination for Hispanics. And now, a great place for companies who want to reach them.
The Internet used to be last place marketers would look for Hispanics. Not anymore, and the situation is changing fast. In fact, the number of Hispanics online will increase 43% by the end of the decade, exceeding 20 million users, says a new report from Web researcher eMarketer. According to the report, Hispanic Youth Online: Language and Culture Define Usage, there were 15.7 million Hispanics who had access to the Web in 2005. By 2012, that audience is expected to hit 30 million users.

U.S. Hispanics with Internet access at home are rapidly adopting broadband. Half of online Hispanics use high-speed connections at home, according to the third annual AOL/Roper U.S. Hispanic Cyber Study. That’s on par with the general online population with broadband at home, and comes despite the fact that Hispanics are newer to the Internet. In addition, Hispanic online consumers have made the Internet part of their everyday lives. They spend an average of 9.2 hours online at home each week, compared to 8.5 hours for the general online population. They now heavily rely on the Internet to learn more about products, share opinions and improve their lives. In fact, 70% now view the Internet as the best source for comparing prices, making the Web the most powerful information medium for influencing online Hispanics throughout the purchase decision.

Online Hispanic consumers are younger and are heavier users of the most cutting edge features of the Internet. 56% of Hispanics online are between the ages of 18 and 34, compared to 34% of the general online population. The study found they use the Internet far more frequently than average to listen to music (55% vs. 41%), download music files (37% vs. 25%) and for instant messaging (59% vs. 48%). The study also indicates that 47% of online Hispanics have children under the age of 18 at home vs. 37% for the general online population. They are also far more upbeat about the ability of the internet to improve the lives of their children. “This study clearly reveals that Hispanic families see the Internet as a valuable tool that empowers them to lead better lives," said Mark Lopez, Publisher of AOL Latino. Finding a way to reach Hispanic audiences with an effective and compelling message isn’t always easy. So if your company is trying to reach Hispanics, the Web is a tool you need to seriously examine now.

Hispanics are Reconnecting with their Culture

Hispanics are reconnecting with their culture and staying connected with their families.

Hispanic consumers are reconnecting with their roots more so now than at any other time in the past,” according to the Yankelovich MONITOR® Multicultural Marketing Study, revealed that Hispanics are keeping their culture alive and staying connected to their heritage now more than ever. For Hispanics, this strong reconnection means growing the bi-cultural segment of the marketplace. Let’s take a look at some statistics that illustrate this point.

• 71% of Hispanics (versus 43% of Non-Hispanic Whites) say, “My roots and heritage are more important to me today than they were just five years ago.”

• 56% of Hispanics (versus 22% of Non-Hispanic Whites) say they “make a great effort to become more connected” with their heritage.

• 85% of Hispanics say they consider themselves to be Hispanic first, American second or to be both American and Hispanic equally.

The study also revealed that family and community come first more so now than at any other time in the past.” Hispanic consumers place significant importance on family for decision-making purposes and support. According to the MONITOR study, Hispanics seek their nuclear and extended families' advice, guidance and support in most matters. In fact, nearly half of all Hispanics said that “when it comes to important things in my life, I almost always seek the opinion of my extended family members,” compared to 33% of Non-Hispanic Whites. Almost two-thirds (60%) of Hispanics (compared to 45% of African-Americans and 48% of Non-Hispanics Whites) say, “In my family, we discuss everyday things together before making a decision.” For companies marketing to Hispanics, these are very important numbers to consider. They need to keep in mind that Latino culture isn’t something Hispanics are shedding over time. It’s a part of their identity and they intend to keep it that way. Also, targeting messages to just one member of the family is not enough for Hispanic households. While Dad may go purchase a new car, he’s also going to talk to his whole extended family about his purchase first.

Introduction

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