We often think of checking and savings accounts as commonplace, but in reality over a quarter of the U.S. population doesn’t have either one. This translates into 67 million individuals being financially underserved in America. These consumers are referred to as “underserved” because they’re not fully leveraging traditional financial offerings of a bank.
In today’s media landscape, consumers are deluged with advertisements: on TV, before YouTube videos, sandwiched between Instagram posts, you name it. In the sea of content, it can be hard for consumers to differentiate between ads and remember brands.
We constantly assess what makes certain spots stick, while others fall by the wayside. Over time, the pattern is clear: consumers like content that authentically mimics their experiences, cultures, and values.
Today’s beauty campaigns encourage consumers to embrace diverse beauty standards and think beyond stereotypes. As the U.S. Hispanic population grows, it’s important to note key differences and similarities between Hispanic and non-Hispanic consumers. To tease out the nuances of culture as it relates to beauty, we asked the women on our consumer panel about their shopping habits, product usage, and influencers in the category.
Companies are eager to win Hispanic consumers’ business as a result of their rapid population growth, increasing purchasing power, and their growing cultural influence. Many companies run targeted campaigns during Hispanic Heritage Month in a play to win their loyalty. We recently asked our consumer community to pick their favorites. The top picks go to:
The mandate to drive sales and build loyalty among Hispanic consumers holds true across all industries. This is felt acutely in the financial industry. Driven by economic, cultural, and language factors, Hispanic consumers significantly under-index on banking status and financial products usage. This represents not only huge business upside for financial services companies, but also a human opportunity to increase access to historically underserved consumers.
Millennials are young, influential, digital natives. They constantly multi-task, and, yes, also shamelessly take “selfies.” Marketers often paint millennials with a broad brush, yet “The Selfie-Generation” or other narratives are too simplistic to articulate exactly who millennials—and in this case Hispanic millennials—really are.
This year, we’re taking a different approach to our Mother’s Day recap. We’re bringing together attitudes toward parenting and motherhood and Mother’s Day is celebrated. After all, Latina moms play a uniquely vital role in family-centric Hispanic culture.
Should we advertise in Spanish, English, or Spanglish? This is the classic question when it comes to marketing to the dynamic, bilingual, U.S. Hispanic community, and one of the questions we often hear from clients.
“Compré poporopos y dulces”
“Compré rositas de maíz y caramelos”
At first glance, it’s probably evident that both sentences are in Spanish; what’s less apparent is that they say the exact same thing: “I bought popcorn and candy.” The difference? The Spanish dialect. The first is from Guatemala, and the second is from Cuba.
While it may be convenient to group Holy Week and Easter together, our research shows that U.S. Latinos understand and celebrate them very differently.
In many Latin American countries, Holy Week tends to be celebrated as widely – or more widely – than Easter. Many towns and churches organize processions and events throughout the week to commemorate Jesus’s death and resurrection, but pay less attention to Easter Sunday. Those Hispanics who only celebrate Holy Week may do so per traditions in their home countries.
Check out our infographic below for highlights of various traditions.
Unleashing culture to drive brand growth