With Hispanic consumers now accounting for 18% of the U.S. population, your clients should think about how they want to connect with these shoppers. New research from Kantar Media shows that Hispanics control 10% of U.S. spending.
Cultural influences and the more adventurous taste buds of U.S. consumers have made flavors like tikka masala, poblano, and doenjang recognized names on grocery store shelves and restaurant menus. The affinity U.S. consumers continue to show for ethnic flavors and dishes is supported by the fact that 75 percent of U.S. adults, especially young adults, are open to trying new foods, reports The NPD Group.
Latinos, blacks and Asians wield significant spending power at independent grocery stores, according to a report from the Center for Multicultural Science. It reveals that those populations account for $44.2 billion
Earlier this year, The Nielsen Company released data showing that the average consumer spends over 5 hours a day in front of the TV screen. New information from Nielsen underscores significant differences between ethnic groups and their use of screens ranging from TVs to computers. Marketers should pay attention to these differences and place their ad campaigns with the media formats most likely to appeal to specific ethnic groups.
In the past decade, automakers broadened their strategy to reach ethnic audiences. Manufacturers typically hired separate agencies to develop ad campaigns to promote their vehicles to African-Americans, Asians and Hispanics. But the recession changed all that. Last year, automakers cut marketing and the cuts extended to the ethnic demographics. While general automaker advertising dropped 13% overall in 2009, the budgets for Hispanic TV, magazine and radio shrank by 38% and spending in those same categories when targeting black consumers dropped 18%.