Understanding the Hispanic consumer is a crucial part of operating a successful retail space. We’ve already established how the Hispanic community has immense raw buying power, so it’s important to understand the smaller details of their consumer behavior on a larger scale.
Cultural Heritage and Brand Loyalty
Brands that resonate with Hispanic culture see enduring popularity with the Hispanic community in the US. This represents a good opportunity for retail managers to research what brands they carry that are popular with Hispanic individuals and how they can better advertise those to consumers in the area to cater to the Hispanic community.
Frequently Online
Nearly 45% of Hispanic Gen Z consumers are always online. This means a huge portion of current Hispanic college students has permanent access to your digital storefront. Use this as an opportunity to expand your digital marketing efforts to reach this audience.
Seek Familiarity
Hispanic consumers see themselves in companies and brands that speak their first language, and that’s why 80% of them prefer these companies. Adopting products from Spanish-speaking brands into your store is a great and effective way to bring Hispanic consumers into your retail store.
Fans of In Store Shopping
Despite our increasingly digital world, most Hispanic consumers still prefer to shop in store. You should consider opportunities to provide Hispanic-focused store concepts if you have a large concentration of Hispanic customers visiting your store. Think of ways to incorporate bilingual signage in your store as well.
Sources
https://nielseniq.com/global/en/insights/analysis/2024/understanding-the-evolving-hispanic-market/
https://phuconcepts.com/how-to-communicate-with-the-hispanic-consumer-the-multicultural-way/
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