Latinos: Multicultural Consumers
November 11, 2020
In today’s market, it is essential to connect with multicultural consumers. Understanding their way of life and values becomes a necessary part of the strategy that brands must adapt.
Multicultural consumers are those who have more than one background or cultural or ethnic association, that is, who simultaneously maintain their cultural heritage while identifying themselves as Americans.
Latinos living in the United States are no exception; they are part of heterogeneous economic and demographic profiles that adapt to a specific context with their own customs and language while doing their best to maintain theirs.
According to the UN, international migrants comprise 3.5% of the population, a figure that continues in trend. In the case of the United States, 15.48% of the people are migrants.
“The proportion of Latinos who speak English has increased. In 2017, 70% of Latinos 5 and older spoke fluent English, compared to 65% in 2010.”
Language, religion, the use of colors, and musical tastes are factors that can influence these consumers when completing their purchase. Strategies that include multiculturalism and diversity will have more critical advantages over those that do not.
They are a significant long-term benefit, the vast majority of Latinos are American citizens, 46% of Latino immigrants have lived in the United States for 21 more years, has also increased the number of Latinos who speak English fluently.
“Investing in smart marketing about today’s multicultural consumers will lead to many more years of consumer consumption and loyalty throughout your life, and can increase return on investment”, said Nielsen’s director.
Is your company ready to meet the needs of multicultural consumers?