While many research studies have been conducted to analyze data on the most effective platforms for reaching different groups of consumers, the economic power of today’s Latino consumer is no secret. Brands and social media influencers are collaborating to market products on social platforms.
“Many Latinos are both empowered consumers and influential co-creators in the digital age – that is an exciting and powerful combination,” explains Maria Cabo, Digital and Multicultural Strategist.
An August 2016 Nielsen report states that at nearly 57 million strong, Hispanics represent almost 18% of the U.S. population. What’s more, this demographic is expected to account for 24% of the population by 2040 and 29% by 2060.
A study by Acosta Sales & Marketing and Univision Communications, also from August 2016, reveals that U.S. Hispanics are spending more on consumer packaged goods.
Brands are Working with Micro–Influencers
Of course, brands and agencies are taking notice, but the age of information has also ushered in an era of hyper-connectivity, co-creation, and cynicism on the part of the tech-savvy consumer. With that in mind, many forward-thinking companies are turning to an approach that is coming of age and is becoming a must-have …