Without a doubt Hispanics or Latinos are gaining importance in the United States of America. It comes as no surprise that big companies are making adjustments to their marketing efforts according to shifts in demographics and spending power. The Hispanic consumer market is valued at around $1.2 trillion, studies project that Hispanic consumers will account for about 11 percent of all purchasing power by 2017. According to Advertising Age Magazine Hispanic media spending in year 2012 added to $8 billion.
Traditionally advertising targeted towards Hispanics has leveraged proven strategies such as featuring brand ambassadors that appeal to Latinos, printed media has been important for targeting Hispanics as well. Now a days Marketing and Advertising professionals face the challenge of balancing traditional strategies and updated ones, such as those incorporating social media channels.
According to a recent study by BIA/Kelsey’s Consumer Commerce Monitor, Hispanic consumers are outpacing non-Hispanics in the adoption of mobile and social resources when shopping, primarily while doing local shopping. The study revealed that around 49% of Hispanic consumers reported using mobile devices for local shopping, this figure contrasts with the 32% of non-hispanics consumers reporting using similar technologies while shopping.
Hispanic consumers tend to be very loyal to local business. From small stores to big corporations establishing integral social and mobile advertising and loyalty strategies will be key to attract and retain Hispanic consumers.