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America's New Baby Boomers

(Posted on Jul 12, 2015 at 12:25PM by ComproCoches)


According to Nielson, The Hispanic consumer represents the greatest potential for sustained growth in the U.S. today. At the current rate of expansion, Hispanics will drive population growth and, in turn, consumption in America for the next generation. Reaching Hispanics effectively should be at the top of every marketer’s to-do list. Hispanics actively embrace new technologies and platforms, while keeping close ties to their roots, especially language. And while Hispanics do consume English-language media, Spanish-language media holds the key to connecting with the greatest number of Hispanic consumers most effectively.


Nielsen breaks down the prevailing myths surrounding Hispanic interaction with today’s media.

MYTH #1: 

There is a belief that once Hispanics learn to speak English well and become bilingual, they become “acculturated” and use English as their primary language. However, acculturation is a process rather than an absolute classification whereby Hispanics adopt American customs while still guarding their culture, heritage and traditions. While 77 percent of U.S. Hispanics speak English well, according to current American Community Survey estimates, 61 percent of Hispanics aged 18+ tell Nielsen they prefer to speak Spanish in their homes versus only 17 percent who say they speak only English. Spanish language remains a core component of the Hispanic home long after English proficiency is gained

Monique Manso, publisher of People en Espanol, cautioned that publishers entering this space -- whether in English or Spanish -- need to speak to Hispanic consumers in a contextually relevant way. "There is the danger of not speaking to them correctly," she said.

MYTH #2:

 I can reach Hispanics through my general market campaigns; SPANISH-LANGUAGE ADVERTISING IS AN EXPENDABLE PART OF MY BUDGET. Besides providing access to a unique audience, Spanish-language advertising is generally more effective than English-language advertising for Hispanics. Nielsen’s advertising effectiveness studies show that advertisers who translate English ads into Spanish receive an increase in general recall among Hispanics when compared to general market English-language commercials. However, original Spanish ads (ads that do not have an English counterpart or that are based on existing ads by modifying the narrative and soundtrack) see a 15 percent general recall lift from English-dominant Hispanics and a 69 percent general recall increase from Spanish-dominant Hispanics. Two reasons for this effect are that Spanish ads create a deeper personal connection to Hispanic consumers and Hispanics are less likely to time shift Spanish-language programming.

Michael Sebastian AdAge Media News "Publishing companies realized they had to do a specific product for these consumers," he said. "It was not just about adding a couple of pages in their main book to reach these consumers."  

MYTH #3: 

HISPANICS are late adopters of technology, so using online and mobile campaigns is unnecessary. New studies are finding that Hispanics are equally, if not more involved in emerging technologies than the general market. A recent look at Nielsen’s national people meter panel reveals that Hispanics are just as likely as non-Hispanics to own an HDTV (69% vs.66%). And Nielsen’s 2010 Q4 mobile insights survey of more than 50,000 people and more than 8,000 Hispanics reveals that Hispanics are not only more likely to own a smartphone, but also they are part of the most valuable mobile consumer segments, carrying an average monthly bill that is 14 percent higher than the market average. Hispanics also lead all ethnic groups with an average of 40 percent more calls made per day and are the most likely ethnic group to use text messaging, mobile Internet and e-mail. They are also more likely to download pictures or music on mobile devices.

The Hispanic consumer represents the greatest potential for sustained growth in the U.S. today. At the current rate of expansion, Hispanics will drive population growth and, in turn, consumption in America for the next generation. Reaching Hispanics effectively should be at the top of every marketer’s to-do list. Hispanics actively embrace new technologies and platforms, while keeping close ties to their roots, especially language. And while Hispanics do consume English-language media, Spanish-language media holds the key to connecting with the greatest number of Hispanic consumers most effectively.

More Facts:

The Hispanic segment of the US Population Represent the 13th largest economy in the world and are the youngest, fastest growing segment of the US population representing 60 % of overall population growth here in the US.

The tremendous Buying power of Hispanics is growing exponentially including a current per capita income of ($39,730) that is closing in on the national average ($57,009.00) makes it important to finds ways to effectively penetrate this market now and into the future.

Hispanic households defined as having an income of $75,000 or more have more than doubled accounting for 75% of all Hispanic Consumers. Their buying power will be worth over 680 billion dollars by 2015.

More than 8 in 10 (82%) Latino Adults say they speak Spanish and nearly all (95%) say it is important for future generations to do so.

54% of Spanish- dominant Hispanics are “Much more loyal to companies that show appreciation of our culture by advertising in Spanish.

Hispanics are the largest users of internet and mobile data services of any segment of the population in the US.

Hispanics are:
The most community minded segment of the US population
The most socially active segment of the US population
The most connected segment of the US Population

Monique Manso, publisher of People en Espanol, cautioned that publishers entering this space -- whether in English or Spanish -- need to speak to Hispanic consumers in a contextually relevant way. "There is the danger of not speaking to them correctly," she said.

William Cosgrove

Additional Must read material:

A Market not to be Ingnored


Statistics:

(United States Census Bureau & Income Pew Research Center  2012.)

Humphries J, The multicultural economy 2012

Selig Center for economic growth 2012

Nielson Pop-Facts 2011-2016
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