NEW YORK, Aug. 12, 2019 /PRNewswire/ -- U.S.
Hispanics' unique ability to blend the physical and digital
shopping experience, provides an opportunity for marketers in a
variety of industries to reach them. And, because Latinx consumers
are young, economically powerful and growing in population, these
consumers represent a tremendous opportunity for
growth. Nielsen's latest Diverse Intelligence Series report,
La Oportunidad Latinx: Cultural Currency and the Consumer
Journey, dives deep into what drives U.S. Hispanic
consumer's purchasing habits. This year's report showcases the many
points of entry for marketers to reach the Latinx market.
Nearly twice as many Latinx consumers will visit websites/apps on
their smartphones as on a computer or tablet. By carrying their
digital experience in their pocket, Latinx consumers often merge
their digital and physical experiences, allowing brick-and-mortar
retailers to make physical shopping more attractive to with a
digitally augmented experience.
In addition to blending their digital and physical shopping
experiences, U.S. Hispanics view their consumer journey as a
community endeavor. For Latinx consumers, the most important
purchase influencers are family, friends, and consumer reviews.
Thirty-three percent of Latinx consumers agree with the statement
"I prefer to buy things my friends or neighbors would approve of,"
over-indexing by 20% versus the general population. Further, 79%
shop for groceries with someone else, frequently with family
members who participate in decision making.
"The Latinx path to purchase is social and circular, meaning
recommendations of friends, family, and virtual networks play a
preeminent role in product/service discovery, awareness and
decision making," said Stacie de
Armas, Nielsen's VP, Strategic Initiatives & Consumer
Engagement. "The Latinx affinity for technology and specific media
platforms can provide marketers with a look at what's next through
authentic engagement and outreach strategies."
The report also showcases how Latinx buying power, which is
expected to rise to $1.9 trillion in
2023, is increasing at a rate more than double non-Hispanic growth
over the same period. With this knowledge, marketers must
understand the largely bilingual and ambicultural nature of the
Latinx community in order to market their brands in relevant ways
that speak to the cultural push and pull of living 100% in more
than one culture.
U.S. Census 2020 information shows when considering the U.S.
Hispanic path to purchase, marketers must be very aware that Latinx
consumers differ from the U.S. population as a whole in one primary
way –they are the youngest ethnic or racial group in America. With
a median age of 28 vs. 38 years of age in the general population,
this highly influential demographic has grown up during the digital
age and is swiftly approaching their peak earning years, accounting
for 75% of all U.S. labor force growth over the last six years,
impacting their overall multichannel path to purchase.
Nielsen uses census data to determine universe estimates
(population estimates) in our U.S. panels and as a key benchmark
for understanding consumers. Accurate census data has never been
more important, due to the rapid diversification of the U.S.
population. Nielsen knows the importance of being counted, which is
why the company has proudly signed on to be a 2020 Census Official
Partner and an active participant in ensuring that the 2020 Census
is as accurate as possible.
"Nielsen's 2020 Census partnership allows both the company and
its clients to plan for growth and adapt to changing U.S.
demographics," said Lillian Rodríguez López, Co-chair of Nielsen's
Hispanic/Latinx Advisory Council. "The civic implications of an
inaccurate count are well known. However, a census count that
doesn't adequately represent Latinx consumers--one of the primary
future growth engines for the U.S. is the impact on businesses.
Through Nielsen, Census measurement is the foundation for
$90 billion in advertising
transactions and powers decision-making by the country's biggest
retailers and manufacturers that influence more than $1 trillion."
Key Report Insights include:
U.S. Hispanics are vital to commercial and viral success,
uniquely combining the digital and physical shopping
experience.
- The highly social nature of the Latinx community and their love
of technology and specific media channels can provide marketers
with a fast track to making their product "go viral' if those
marketers seek insights and develop solid Latinx strategies.
- 57% of Hispanics enjoy wandering throughout the store looking
for new and interesting products, which is 10% higher than the
general population
- Almost half (48%) of Hispanics find shopping to be a great way
to relax, which is 15% higher than the general population.
- Validating the social connection Latinx consumers have with
shopping, the second most stated reason for visiting a social
networking website by Latinx consumers is to receive exclusive
offers, coupons, or other discounts (over-indexing by 22%).
- With a big number of brick-and-mortar locations dwindling in
many cities, connecting with Latinx consumers as a source of growth
in the categories they are passionate about can be vital for the
survival for brick-and-mortar retailers. Creating an authentic
in-store experience could be a competitive advantage for
brick-and-mortar retailers in the race against online
purveyors.
- Merging the physical and digital worlds, Latinx consumers are
front-runners in digital coupon use, with text being reported as
their number one way to receive coupons.
U.S. Hispanics have mastered the art of blending old and new,
leading a new wave of culturally relevant trendsetters. The Latinx
community keeps up with the latest trends by being constantly
connected to their inner circles, asking for advice,
recommendations, and approval from those who mean the most to
them.
- They are more likely than the general population to use social
networking sites to find out about products and services, and they
are also more likely to share their product/services experience on
a social networking site. They, in fact, are likely to both offer
and seek out recommendations.
- Almost 40% of Hispanics state that their friends or neighbors
seek advice from them before making a purchase, over-indexing the
general population by 10%.
- 73% of U.S. Hispanics agree that it's important for them that
their children continue their family's cultural traditions, and
that their ethnic cultural heritage is an important part of who
they are, which means that language, culture, and familial ties are
a foundation in understanding the unique Latinx path to
purchase.
As the youngest ethnic group in the country, U.S. Hispanics
are coming of age in a digital world. They have strong opinions and
are masters at making them heard in the social
channels.
- The U.S. Census projects that the Latino population in
the United States will nearly
double to 109 million in the 40 years between 2018 and 2058, a
projected percentage change of 82% vs. only 9% over the same period
for the non-Hispanic population.
- Latinx consumers love navigating life with their mobile
devices, as evidenced by the fact that 98% aged 2+ own a
smartphone, versus 95% of the total U.S.
- Unprecedented issues affecting the U.S. Latino community have
risen in American politics in the last several years, having a
proud effect on the American electorate. Latino voter turnout
reached 11.7 million in 2018, up from 6.8 million in 2014 – the
single largest increase on record from one midterm election to
another.
About Nielsen's Diverse Intelligence Series
In 2011,
Nielsen launched the Diverse Intelligence Series, a robust
portfolio of comprehensive reports which focuses solely on diverse
consumers' unique consumption and purchasing habits. The series has
become an industry resource to help brands better understand and
reach diverse customers. To learn more about Nielsen's
Diverse Intelligence research series, visit www.nielsen.com.
About Nielsen
Nielsen Holdings plc (NYSE: NLSN) is a
global measurement and data analytics company that provides the
most complete and trusted view available of consumers and markets
worldwide. Our approach marries proprietary Nielsen data with other
data sources to help clients around the world understand what's
happening now, what's happening next, and how to best act on this
knowledge. For more than 90 years, Nielsen has provided data and
analytics based on scientific rigor and innovation, continually
developing new ways to answer the most important questions facing
the media, advertising, retail, and fast-moving consumer goods
industries. An S&P 500 company, Nielsen has operations in over
100 countries, covering more than 90% of the world's population.
For more information, visit www.nielsen.com.
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SOURCE Nielsen