
Four Group Traits that Best Characterize Hispanic Consumers
By 2060, Collage projects Hispanic consumers to represent 28 percent of the total U.S. population. Read on to learn four group traits that characterize this segment.
We are now more than a month into the new normal of the COVID pandemic. Buying patterns have been massively disrupted, millions have lost their jobs with panic buying affecting many categories while others have nearly collapsed.
When it comes to multicultural segments in particular, a few things stand out. First, culture is a significant determinant of human behavior in this crisis and therefore understanding cultural variation is critical. Who is stocking up more or less? Who is listening to influencers more than news and vice versa? These are questions brands need answers to.
Second, the growth rate of the multicultural population and expenditure in good times is important, but in bad times, that growth rate is critical. From our scenario modeling, we have seen there is virtually no chance of brand growth in a downturn without successfully activating multicultural consumers.
And finally, multicultural influence on the general population only increases every day. For brands, that means that building trust and cultural relevance with these segments creates cross-over effects that drive demand across all segments, especially younger white segments.
With this end in mind, Collage Group fielded a study during the last week of March to provide members insights into the attitudes and behaviors of different cultural groups—racial, ethnic, and generational segments—during this time of crisis and uncertainty. We covered attitudes, COVID mitigation behaviors, employment and finances, buying patterns, time spend, general behaviors and expected future behaviors.
Read below for four top findings from the research.
Please contact us to learn how our COVID pandemic research can benefit your brand.
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