Entries in media (1)

Friday
Jan142011

2011 Consumer Trends and the Hispanic Community

Lee Van from Media Post's blog Engage: Hispanics reviews consumer trends for 2011 reported by Trendwatching.com and finds that many of these trends could be greatly influenced by the Hispanic community. He believes that marketers should target this key demographic because of the following characteristics:

  • Random Acts of Kindness: Not only do they represent over $1 trillion in buying power, they are also at the bleeding edge of social media. Random acts of kindness that reward both the individual and the collective Hispanic group will pay off handsomely for brands.
  • Urbanomics: 91% of Hispanics live in urban areas.
  • Pricing Pandemonium: smartphone growth among Hispanics is outpacing the general market and that Hispanics are heavy mobile users. Pricing models that incentivize like-minded communities should be salient within the Hispanic community
  • Online Status Symbols: Brands will increasingly offer badges, symbols and other rewards to consumers who interact with them. When developing these symbols, marketers should develop and distribute symbols to allow Latinos to identify with their evolving heritage and culture.
  • Well-thy: There are significant and complex health issues facing Hispanics, including high levels of obesity and diabetes. This is a great opportunity for marketers to proactively address the cultural and language barriers that affect the health of many Hispanics and ride this consumer trend.
  • Emerging Generosity: People increasingly expect wealthy individuals and brands to give back to the community...Maybe in 2011 Mexico's Carlos Slim, the world's richest man, will pledge to donate his wealth to Hispanics

You can read the full article here.