Bulletin: Over 80% of Hispanic / Latino Consumers Prefer Ads in SpanishAugust 16, 2014
By: Marisela Montenegro
Whether you run a cable network, a chain of retail superstores or a business that caters to service industry consumers, you know one fact about emerging US markets: the Hispanic population is the fastest-growing and most lucrative business segment in America.
With Hispanic spending power now over $1.2 trillion annually, Culturati (a research and consulting firm specifically geared toward studies of US Hispanic population trends) contends that despite surging needs, over 40% of Hispanics are not being reached by companies in the US.
A recent study by the firm confirms that most Hispanics today are interested in maintaining their diverse cultural heritages and therefore prefer to communicate in Spanish. While the waters are being tested for growing bilingual market needs, gradual acculturation will require meeting the more immediate Spanish language needs of traditional Hispanic communities.
One need only look at the commitment of retail giants like Walmart, whose executives committed last year to doubling their advertising resources for multicultural outreach. This move was based on 2011 and 2012 spending of $60 million on advertising to reach Hispanics specifically, a move that was encouraged by projections of an estimated 100% growth in sales from multicultural consumers. Similarly, large cable networks like Univision recognize that 167% population growth by 2050 means Hispanic population needs will have to be met by a broad spectrum of linguistic and cultural outreach tools.
“The Hispanic market’s size, sheer size, growing clout, and buying power of $1 trillion in 2010 and $1.5 trillion by 2015 require thoughtful understanding about what the market represents to a company’s bottom line.” – The Nielsen Company (Quarter 2, 2012)
Understanding Hispanic market characteristics and providing businesses with the tools to maximize their reach to Spanish speakers is YaSabe’s dynamic world class platform offering.
Our April 2014 poll of more than 4,000 respondents in English and Spanish shows that over 85% of desktop and mobile users alike prefer commercial advertisement in Spanish. This holds true even when respondents were asked while using the YaSabe site in English; 65% of respondents viewing the site in English, prefer Spanish language advertisement.
Furthermore, 75% percentage of users affirmed, regardless of the language they were browsing the site, are likelier to purchase a product if they are presented with advertising in Spanish.
Low cost, quality advertising options coupled with culturally aware content makes YaSabe’s approach essential to the success of Hispanic marketing in the US. Every current study suggests that reaching Latinos through Spanish language advertising is an essential driver of market success.
At YaSabe, we are riding the wave of upcoming market accessibility by combining our unique approach of respect for both the Hispanic consumer’s needs and the drive of businesses to deliver those needs.
Poll conducted in April 2014, in English and Spanish, to over 4,000 visitors to YaSabe’s desktop and mobile sites.