The Nielsen fifth consumer report on the Hispanic Consumer Behavior is in itself a revelation of how significant this consumer group has become in recent years. According to this report, the Latino community was responsible for 50% of the population growth in the United States between 2010 and 2015. The report goes on to state that their current population is expected to double over the next two generations. Marketers for leading brands who wish to tap into this market’s potential are aware of the degree to which Hispanic consumer behavior is influenced by Hispanic culture. This influence can be seen in a number of ways.
A young bilingual Hispanic community
The bilingual Hispanic population is growing every day. The United States population places the total number of Hispanics who are bilingual to stand at 55 percent with an overwhelming 96 percent of Hispanics under the age of 18 being bilingual. Whether born within or outside of the United States, the impact of the two cultures have had on Hispanic consumer behavior is unmistakable. Given the majority of Hispanics are bilingual and Spanish-dominant, most of them have been found to gravitate towards advertising and brands that use a blend of both Spanish and English.
The Hispanic community as a whole might have a number of similar characteristics, but there exist a number of minor cultural differences that differentiate Hispanic communities from one another. Given the population of the Hispanics is growing at a very high rate; these differences will become more and more apparent. A Nielsen study conducted in 2013 found the population of Hispanic communities to be growing rapidly in areas not thought as being Hispanic dominant areas. Hispanic consumer behavior indicates a favorable response to brands that display a certain level of cultural sensitivity beyond simply using aspects of Hispanic culture to reach out to them.
Strong family ties
A quality that cuts across all Hispanic communities is their strong family ties. 73 percent of Hispanics would rather eat in than out because of the remarkable dynamic that exists family members. The spirit of eating and sharing is a unique Hispanic attribute. Brands that cater to the whole family usually find favor amongst many Hispanics as they appeal to their family ties.