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Hispanic Market Composed of Diverse Niches »
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Hispanic Market Composed of Diverse Niches
Categorization of ethnic groups into overly broad, generic groups - such African American, Hispanic or Asian American - leaves marketers with an inaccurate picture, and that’s particularly true with Hispanics, many of whom report being of multiple racial/ethnic descent, according to BIGresearch’s latest Simultaneous Media Survey (SIMM 10).
In SIMM 10, Hispanics identified themselves racially as as Caucasian (44.2%), Other Race/Heritage (34.6%) and Multi-Racial (16%).
Advertisers should also pay close attention to age and income as social and cultural markers of mobility within Hispanic groups, BIGresearch found.
For example, those Hispanics who identify themselves as being Caucasian are generally older and report a higher income than other Hispanic races:
The differences in the niche markets of Hispanics are apparent in their auto-purchase plans and media usage, such as magazines read most often and radio formats listened to most often, BIGresearch found:
- Top 3 vehicles being considered:
- Top 5 magazines read most often:
- Top 5 radio formats listened to most often:
Across race and ethnic categories, Hispanics tend to have a greater propensity to purchase big-ticket items over the next six months, the study found:
“If marketers are interested in strategic media planning and ROI, then cultural differences must truly be a part of a consumer-centric model, not just another variable,” said BIGresearch VP of Strategy Joe Pilotta.
