The Hispanic community is a diverse and significantly mainstream population with individuals originating from over 20 Spanish-speaking countries. The U.S. Hispanic consumer buying power is set to outpace the national average by nearly 10% to reach $2.6 trillion by 2025. 50% say it is important that advertising makes them feel understood by brands, yet only 43% of Hispanic consumers feel understood by brands.
My Code Intelligence Center’s 2023 Hispanic Consumer Fact Pack was developed to arm marketers with invaluable insights allowing enhanced understanding, deeper connection, and authentic enrichment of the lives of Hispanic audiences. The U.S. Hispanic community is a vibrant, increasingly influential population, and their behaviors are impacted more when they feel understood and represented by brands. Here’s what the research shows:
RAPIDLY GROWING SPENDING BEHAVIORS & INTERNET USAGE
Hispanic consumers’ economic power is geographically dispersed and rapidly growing, with a projected 33% growth in buying power by 2025 (versus 2020, outpacing 24% growth among the total US in the same time period.) Hispanic consumer spending is growing fastest in U.S. census regions.
The Hispanic community also plays a significant role in the internet age, with internet usage significantly outpacing the national average – 96% of Hispanic adults use the internet at least once per day. Mobile phones are used by 9-in-10 Hispanic adults, with the internet serving as the primary source of entertainment, along with podcasts, online videos and gaming. 53% of Hispanic adults also feel online racial hate is a serious problem.
HISPANIC CULTURE IS MAINSTREAM CULTURE
Since the founding of the United States, Hispanics have been ever present – 100% of people in the U.S. experience, consume, and express aspects of Hispanic culture in their daily lives, yet they still continue to deal with stereotypes and discrimination, leading to the marginalization they endure today.
Hispanic culture is often discussed as a group that is separate from mainstream culture. By reflecting reality and representing Hispanic culture as mainstream culture, marketers can help this community feel seen, heard, and engaged.
FEELING UNDERSTOOD THROUGH REPRESENTATION
50% of Hispanic consumers believe that it is important that advertising makes them feel understood by brands, yet only 43% actually feel understood by brands. In order to pivot this mindset and strengthen their connection with Hispanic audiences, brands must make authentic advertising that is relatable to them. This includes:
- Tapping into relevant history and culture – mindfully blend traditional and modern cultural elements into advertisements
- Natural storytelling that depicts Hispanic diversity as a part of mainstream U.S. culture.
- Creating culturally relevant advertisements that depict people in “everyday life” situations
- Challenging marginalizing stereotypes
HOW MARKETERS CAN TAKE ACCOUNTABILITY
- Make connections with Hispanic audiences more meaningful
- Hispanic culture is mainstream culture
- Hispanic culture is traditional and modern
- Realize the untapped potential in everyday life
- Language is not a barrier, it is a strategy
- Cultural relevance starts from within
- Commit to championing the hispanic community
Download the full 2023 Hispanic Consumer Fact Pack now to equip your team with the key data and gain a core understanding of how to effectively generate programs, strategies, and campaigns that are more likely to have an impact on Hispanic audiences.