Nielsen Study Validates Hispanics Have the Most Years of Effective Buying Power
A recent Nielsen study on the multicultural population, The Multicultural Edge: Rising Super Consumers, brings a new meaning to “young at heart” and will enhance the knowledge base of brands and organizations searching for growth.
U.S. Hispanics are not only the largest diverse population, they are leading in youthfulness, coupled with longer life expectancy. Latinos have a median age of 27 compared to 42 among non-Hispanic whites, and an estimated 56.5 years of effective buying power.
We know that this segment is technology-savvy and has a high usage of mobile devices and social media. Hence, this growing population of Latino youth is poised to be the receivers of imaginative consumer and issues engagement tactics. This will translate into more culturally relevant loyalty programs, voter campaigns, and content sharing, etc.
Here are my two takeaways of what this means to Corporate America and associations:
- Youthfulness increases inclination toward biculturalism. Hispanic Millenials stay grounded to their roots while they thrive in two worlds.
- As younger Hispanics enter the workforce, employers have a responsibility to propel their careers, leadership skills and productivity levels through mentorship programs.
It’s very helpful when global information and measurement companies like Nielsen shed light on the multicultural and U.S. Hispanic consumer, because it validates the trends that Hispanic marketers see. More decision-makers should take notice and shape their comprehension of the Latino market.
Comunicad has been leading the conversation on Hispanic PR for more than 25 years.
By Gloria Rodriguez
President& CEO, Comunicad, LLC
Follow us on Twitter @comunicadpr