The exponential growth of the Hispanic population in the USA is no longer a secret. Most people are familiar that they are the biggest minority in the USA, making up nearly 19.5% of the current USA population.
However, most marketers and business owners are not familiar that the American population is not just becoming more diverse but dominated by youngsters.
With consumers being younger, their expectations will change, and so the older marketing strategies will require a revamp.
So, are you ready for that change? Have you made a strategy to attract young Hispanic customers yet?
If your answer is “No,” don’t worry.
Within this write-up, we will look at some of the important changes registered in the Hispanic community that will help with creating a winning marketing campaign.
Top Ways Young Hispanic Customers Are Changing Business in the USA
Change in Speaking Trends
Most of the Hispanics in previous generations were immigrants. Consequently, they were more fluent in Spanish, while their English was not as per US standards. Considering this, legacy-based brands like Spectrum opted to offer Spectrum servicio al cliente, so the Hispanic audience can seek guidance in the Spanish language.
But the demographics are changing a bit.
As per a study done by Pew Research in 2022, nearly 68% of the Latinos living in the USA were born here.
For these Hispanic Americans, things are no longer the same. They have an American education, most of their friends are white and their first language is English. To attract this audience, brands now have to market their services and products in English or a mix of English and Spanish. This is the reason Spanglish is becoming a dominant way of communication for most brands.
Transformation in Buying Power
As immigrants, the majority of the Latinos coming from other countries had limited buying power. While the majority of the immigrants were working at low-paying jobs due to low literacy rates, high earners were sending money home to support families.
Consequently, the Latinos were seen as a community with low buying power. So, companies were not customizing products and services to meet the needs of the Latino community.
Now, as young, educated, and highly skilled Latinos are entering the job market, their buying power has grown sharply. As per Nielsen, the average Latino buying power was recorded at $3.2 trillion in 2021. Since then, this number has improved even more.
This boost in buying power has helped the Latino community to have bargaining power as well. Now, young Latinos demand products and services to be customized as per the needs and requirements of the Latino community.
Revolution in Buying Styles
Another thing that changed with the buying power is buying style. Previously, when the buying power was limited, Hispanics were known to prioritize affordability over quality. This was common in different industries, especially in fashion, utility, and food.
Now, after the average Latino household income has seen a boost, the buying style has also changed. Marketers are noticing that young Hispanics are no longer hooked on the idea of saving money. Instead, they prioritize quality and overall value. This means that to appeal to the Hispanic audience, it is now more important than ever to make quality products for them.
Seek Value and Attention
Most business owners are familiar with customers who want to be valued and heard. This is the reason big brands heavily rely on feedback, divulge mediums for open communication, and highlight changes made as per customer requirements.
However, marginalized communities with limited numbers and less buying power had no bargaining power. Eventually, they had to buy the products that were already available in the market. This is the reason Hispanics in the US were either getting products from back home or compromising on their unique needs.
Now, as the buying power has improved and there is a rise in awareness, Hispanics are demanding tailored products as per their requirements. From skincare lines to hair care, fashion, and food, we are now seeing Hispanics buying from brands that value their taste.
Exercise Control over Narrative
When Latino immigrants entered the US, they faced a lot of discrimination by the people. This made Hispanics conscious of their inheritance. In fact, most of them developed an inferiority complex as well. This is the reason, we noticed the older generation opting for American culture more aggressively.
Now that Hispanics are the largest population in the US, they have become more comfortable with their Latino heritage. Moreover, the global acceptance of Latino culture has improved, turning Latinos into a force not to be reckoned with.
In light of this transformation, young Latinos proactively look for brands highlighting Latino culture. Kantar reports that 64% of Hispanic consumers seek out brands that acknowledge their culture. This means that if you want to appeal to a Hispanic audience, it is better to offer authentic representation.
Best Ways to Attract Young Hispanic Customers
- Make customized products for Hispanics
- Communicate in Spanglish
- Offer good quality products and services
- Focus on authentic representation
- Embrace Hispanic culture
