1-US Hispanics have Serious Purchasing Power.
The $1.4 trillion U.S. Hispanic market is larger than the entire economies of all but 13 countries in the world. And it’s set to grow in the next few years. The Selig Center for Economic Growth predicts that by 2019, Hispanics will account for 10.6 % of the total U.S. buying power.
2-Online sources and ads influence U.S. Hispanic consumer behavior.
U.S. Hispanics use online sources at a higher rate than the general online population (54% vs. 46%) throughout the many micro-moments in the purchase journey, from inspiration to purchase. When it comes to gathering information about something they're considering buying, these consumers favor online sources over family, radio, and TV. Online sources actually ranked 20 percentage points higher than TV (54% vs. 34%).
3-U.S. Hispanics Tend to Think of Themselves in Terms of the Country of Origin.
There are 10 Hispanic origin groups – Mexicans, Puerto Ricans, Cubans, Salvadorans, Dominicans, Guatemalans, Colombians, Hondurans, Ecuadorians and Peruvians – that constitute 92 % of the U.S. Hispanic population.
Messages that communicate effectively with those of a Mexican background (63 % of U.S. Hispanics) might not engage those of a Dominican (2.8 % of U.S. Hispanics) background.
Remember that a person’s national origins influence the words, the phrases, and the idioms they use in Spanish.
4-The U.S. Hispanic Market is Trendy.
U.S. Hispanics like to be the first to share with their friends (30 % vs 13 %), are more than twice as likely to follow trends than non-Hispanics (41 % vs 18 %), and enjoy trying new products first (31 % vs 14 %).
5-U.S. Hispanics Love Using Their Smartphones to Shop, Engage, and Socialize.
Approximately 60 % of U.S. Hispanic households own at least one cell phone that can play video and access the Internet, compared to 43 % of the general market, according to the Hispanic Market Imperative Report.
56% of US Hispanics shop using their mobile phone vs 33% of non-Hispanics.
43% of US Hispanics shop using a tablet device vs 25% of non-Hispanics.
U.S. Hispanics spend 68% more time watching web video and 20% more time watching video on their mobile phones compared to non-Hispanics. Hispanics outpace all ethnic groups in mobile data service consumption including music and picture downloads.
of U.S. Hispanics who access the internet on a mobile device use it while in a store to inform a purchase in real time
6-U.S. Hispanics Purchase Many Goods and Services Online.
U.S. Hispanics accounted for 11 % – or about $2.2 billion– of total e-commerce purchases made across the United States in the first quarter of 2012.
7-Spanish Will Make Your Advertising Much More Effective.
Screening a Spanish-language commercial – rather than the original English-language version – increases ad recall by up to 30 % among U.S. Hispanics. Furthermore, according to Nielsen TV Brand Effect, U.S. Hispanics report liking ads 51 % more if they watch them in Spanish rather than English.
8-U.S. Hispanics are More Likely to be Loyal to Companies that Communicate in Spanish.
According to the Experian Simmons Summer 2011 National Hispanic Consumer Study, about 56 % of Spanish-dominant Hispanics agree that, “When I hear a company advertise in Spanish, it makes me feel like they respect my heritage and want my business.”
Similarly, 54 % of Spanish-dominant Hispanics feel “much more loyal to companies that show appreciation of our culture by advertising in Spanish.”
You need to communicate the right messages, in Spanish. Fresco Marketing can help in a variety of ways, including Spanish translation and localization for the US Hispanic audience.
9-The Spanish Language Matters to U.S. Hispanics.
More than 82 % of Hispanic adults say they speak Spanish. Studies by the Pew Hispanic Center show that 95 % say it’s important for future generations to continue to do so. So, while an increasing number of U.S. Hispanics are bilingual (currently 51 %), reaching out to U.S. Hispanics in Spanish is more important than ever.
10-The US Hispanic Market is Growing. Fast.
Approximately 55 million Hispanics lived in the U.S. as of 2016, according to the U.S. Census Bureau.
Hispanics today make up 17 % of the U.S. population and this growth is only set to accelerate. The U.S. Census Bureau projects that by 2060 the Hispanic population will account for 28.6 %.
Source:Google/accredited language:The US Hispanic Market 10 facts, October 2018