The Power of the Hispanic Consumer
During Hispanic Heritage Month, we’re reflecting on the importance of Hispanic marketing, and the growing influence and diversity of the Hispanic population in the United States and our region of Texas. For 20+ years, Texas Creative has been helping brands and government agencies use research-based strategies to reach Hispanic populations through customized messaging and media selection.
Here are some data-driven insights related to Hispanic marketing:
1. Population Growth
The Texas Tribune put out an article in May 2023 showing that Texas is home to four of the nation’s 10 most populous cities, and an unofficial 2022 Census reported that Hispanic residents are now the majority population in the state. Bexar County sits at a 61% Hispanic population – the 7th largest in the U.S. and it’s projected to see continued growth with over 1.8M by 2028. As the Hispanic population continues to grow, marketing efforts for this demographic will be crucial to sustaining long-term business growth. Building brand loyalty among Hispanic consumers shouldn’t be an afterthought – it’s essential to business survival.
2. Hispanic Buying Power
The Hispanic community has big buying power. As that population grows, so does its economic influence. According to Claritas 2023 Consumer Spending, Hispanics accounted for $298B in household spending on food (groceries), auto, healthcare and household items in the top spending categories. San Antonio alone accounted for $32.4B in consumer spending, and it’s expected to grow +13% over the next five years. Businesses that effectively meet the needs and preferences of Hispanic consumers can tap into this lucrative market segment and increase their revenue.
3. Cultural Relevance
Hispanic culture is influential. Tailoring marketing efforts to the Hispanic community not only demonstrates cultural sensitivity and inclusivity, but it recognizes the significant impact of that culture on our world. Companies that value the perspectives and contributions of this diverse community and demonstrate a commitment to meeting the unique needs of a broader spectrum of consumer groups. You’ll not only enhance your brand's reputation, but you’ll increase customer loyalty in a more genuine way. The Hispanic community has a colorful tapestry of linguistic diversity, with Spanish as the predominant language. So, running marketing campaigns in both Spanish and English can help reach a broader audience and connect with people who may be more comfortable communicating in Spanish.
4. Community Engagement
Engaging with the Hispanic community through targeted marketing can lead to positive relationships and community support. Businesses that actively participate in local Hispanic events, support causes important to this demographic or local market, and hire from the community can strengthen their ties and reputation. Don’t just say that you care. Show it.
5. Digital and Social Media
Hispanic consumers are active on digital and social media platforms. Texas Creative has customized our approach to reaching Hispanic consumers through tailored efforts on video platforms, mobile device IDs, Spanish streaming TV and social media. We work closely with partners like NBCUniversal and Univision to take advantage of their product offerings, knowledge of the community and Spanish-language targeted content.
The power of Hispanic marketing extends far beyond the business realm. It’s about recognizing and celebrating the vibrant culture, heritage and traditions that this rapidly growing and influential demographic brings to our society. By understanding the unique needs and preferences of Hispanic consumers and tailoring marketing strategies accordingly, businesses can position themselves for success in an increasingly diverse marketplace.
See how we've applied these strategies for our clients here.