Research
Is Hispanic Advertising Now Victim of a Wolf in Sheep’s Clothing?
Over the last month, data and research reports have validated the ongoing momentum of several trends about the U.S. Hispanic consumer audience. The common take-away? This segment continues to be the primary growth-driver across many business verticals, categories and brands. Perhaps most profound and compelling, a recent report from the UCLA Center for the Study of Latino Health and Culture: If the U.S. Latino population were its own country, the GDP would be the world’s fifth largest, outpacing even the United Kingdom, France, and India. What’s more, out of the world’s top 10 largest GDPs, the U.S. Latino GDP would be the second-fastest growing from 2020 to 2021, second only to China. Additionally, the latest Claritas Hispanic Market report shows Latinos are adding 4,021 people per day to the U.S. population, offsetting population daily declines in the non-Hispanic White segment (-2,340) and far outpacing the gains in African American/Black and Asian/Pacific Islander segments, at 918 and 828 added per day, respectively. In short, the Latino purchasing power and consumerism is showing no signs of plateauing, let alone declining. By Louis Maldonado
Why Cultural Competence Is Critical In The Age of Multicultural Data
Cultural competence is the ability to understand, appreciate, and interact with people from cultural backgrounds, values, and beliefs different from one’s own. While necessary for companies and brands aspiring to reach and engage multicultural audiences meaningfully, cultural competence is essential for programmatic media buyers who rely on data-driven strategies to target their ads.
Nurturing trust: Engaging with Hispanic audiences in a diverse media landscape
With an ever-expanding media landscape, audience preferences are pivotal. Creators and distributors want to engage audiences, and brands seek relevant content opportunities where their messages can truly resonate. Any meaningful engagement with audiences requires a deep understanding of people, but building meaningful relationships with Hispanic audiences can be more complex.
For US consumers, it’s a matter of ‘and’—not ‘or’
Across the country, consumers’ spending habits are evolving—and, in some cases, going in opposite directions at the same time.
R.I.P. GENERAL MARKET: THE MAINSTREAM LEADS WITH CULTURE
In the latter half of the 20th century, a theory emerged—and is still promoted today—that the cultural orientations of Hispanic and Asian immigrants and their descendants would diminish as they “became more acculturated.” A new study by the Hispanic Marketing Council (HMC) shows the opposite is true: non-Hispanic white (NHW) 13-to-49-year-olds have been more influenced by Hispanic, Black and Asian cultures. With the multicultural majority already a reality for Americans under 25 & estimated for all people under 35 by the end of this year, it is safe to say that the construct of a white American “general market” is dead, upending long-held marketing paradigms centered around an increasingly non-existent NHW majority.
A New Digital Age Has Begun: Are You Ready for The Fourth Wave of Advertising?
I have to admit surprise at how generative AI has so quickly grabbed everyone's attention in 2023. Clearly, AI's growing importance in advertising is undeniable, and I look forward to how it will shape our industry in the coming months and years. At the same time, we are on the cusp of an important shift that I predict will have more immediate consequences for our business.
Advertising Industry Launches New Initiative To Expand & Standardize Privacy Protections Through Responsible Online Advertising Practices And Enhanced Advocacy
Leaders of the U.S. advertising industry launched a new initiative to boost privacy protections and choices for consumers through evolved and enhanced industry data privacy principles for responsible online advertising practices and to renew their commitment to enacting preemptive, federal privacy legislation.
GenAI figures in most brands’ marketing plans
A new survey conducted by WFA finds that three in four companies already use GenAI or plan to use it soon. Optimism about its potential is matched by concern about the risks to brand reputation. Eight in ten have developed or are developing internal policies on use of GenAI.
Spanish-Language TV Ad Impressions Up 27% YoY in 1H 2023 [REPORT] UPDATED
As brands put a greater emphasis on Hispanic consumers, Spanish-language TV ad impressions are climbing as well. iSpot’s new report around Spanish-language TV advertising shows which brands are increasing Spanish-language ad focus YoY, key industries, daypart adjustments, top programs and more.
How Latinas Are Reshaping the Beauty Market Through Brand Trust
Latinas are shaking up the makeup industry with an eye-brow-raising increase in demand for beauty products that are outpacing non-Latina spending in the category. For those who are Latinas, this might not come as a shock since one of the many pillars of Latina identity is connected to cultural pride around one’s own personal appearance. However, it’s important to understand that personal appearance and grooming takes on many forms for Latinas across different sub-cultures and countries of origin. by Santiago Solutions Group
Connected Consumer 2023 [REPORT]
The 2023 Connected consumer survey explores device usage as a gateway to meaningful connections, better health, safer homes, and valued virtual experiences. This year, consumer concerns around digital fatigue, well-being, and data privacy and security persist, while the “just right” balance between virtual and physical worlds remains elusive. Tech companies that help consumers find that balance will likely benefit. .
The Art of Emotion: Turning Trackable Data into Customer Connection
Customer data is the heart of marketing, and probably always will be. Demographics, consumer profiles, buying trends, regional preferences, and past performance are all part of this the stew (and it's invaluable to marketers). But without hard data on how customers feel about our ads and our experiences, we're only getting half the picture.
Hispanics On Track to Reach $113T in Collective Wealth by 2050 [REPORT]
Finhabits, a financial technology platform that more than 680,000 U.S. Hispanics use to invest and access financial education, has released a new report on Hispanics' growing wealth and investing behaviors. The report, "Power in Numbers: The $113 Trillion Unseen Hispanic Wealth Opportunity," offers an in-depth look at the impact of the country's fastest-growing demographic on the financial sector, as well as its own financial well being.
Eight Hispanic Groups Each Had a Million or More Population in 2020
Colombian and Honduran Populations Surpassed a Million for First Time; Venezuelan Population Grew the Fastest of all Hispanic Groups Since 2010
Understanding Counts of Afro-Latino Responses in the 2020 Census [REPORT]
The U.S. Census Bureau recognizes that the Afro-Latino population is not limited to people who responded by providing the specific terms of Afro-Latino or Garifuna within their responses to the ethnicity question.
Hispanic Gen Z Consumers want more Bilingual Content as they Reclaim Latino Heritage
While past Hispanic generations often focused on assimilation with the general population, as the Gen Z Hispanic adult population grows, a dominant trend is emerging. Hispanic GenZ are becoming more comfortable reclaiming their heritage and engaging with Spanish and Bilingual content. By Santiago Solutions Group
2023 LDC U.S. LATINO GDP [REPORT]
Last year’s LDC U.S. Latino GDP Report reflected a U.S. Latino economy valued at $2.8 trillion in GDP. This year’s report shows the U.S. Latino economy has continued its remarkable growth and is now a $3.2 trillion economy. It is, in fact, growing two and a half times faster than the non-Latino equivalent.
The future of the consumer industry [REPORT]
The future is fast approaching, and the consumer industry is on the precipice of dramatic change that will significantly impact the markets, models, and mechanics of consumer companies over the next decade. With all this uncertainty, one thing is clear: The strategies that led you to today likely won’t get you to the future.
Public Trust in Government: 1958-2023
Public trust in the federal government, which has been low for decades, has returned to near record lows following a modest uptick in 2020 and 2021. Currently, fewer than two-in-ten Americans say they trust the government in Washington to do what is right “just about always” (1%) or “most of the time” (15%). This is among the lowest trust measures in nearly seven decades of polling. Last year, 20% said they trusted the government just about always or most of the time. Among Asian, Hispanic and Black adults, 23%, 23% and 21% respectively say they trust the federal government “most of the time” or “just about always” – higher levels of trust than among White adults (13%).
Research Finds $113T Unseen Wealth Creation Engine Making Latinos “non-traditional wealth bankers” instead of “underbanked”
According to a new report issued by Finhabits, Latino wealth has grown 12% annually for the past 10 years and the rate is 2x Non Latino Whites and has the potential of reaching $113T by 2050. Finhabits sees that 90,000 Latinos inside their fintech ecosystem are saving 6.5% of their salary regardless of income. Latino is an Everyday Saver and at that rate, even with lower household income, are accomplishing the industry recommended norm in savings. By: Ana Ceppi, SeniorMarCom advisor with 10+ years of Financial services and HealthCare experience and Founder of Factivist LLC
