Hispanics contribute $2.3 trillion annually to US GDP.
This piece says that a majority of Hispanics (75%) in the US prefer to purchase from brands that try to include their “elements of culture”. Despite their massive size, most brands only assign 4.2 percent of advertising budgets to this demographic.
Marketers are failing to reach out to this demographic due to outdated practices, as most Hispanics prefer either English or bilingual content. While 66% of Hispanics notice bilingual advertising campaigns, 71% of them don’t have any preference for digital ads.
The survey was conducted by Hispanic-focused advertising firm, H Code to highlight the importance of culture and authentic connection of brand marketing with Hispanics.CEO and founder of H Code said that “Hispanics are paying close attention to brands and those that make an effort to represent them gain their loyalty.”
[4 minute read]