Multicultural Marketing

Underbanked Hispanics are a large and desirable market for bank customer acquisition. 47% are homeowners (vs. 53% for underbanked non-Hispanics).

How to tweak in-store merchandising to appeal to Hispanics

Some key insights: 7 out of 10 Hispanic Shoppers who researched a grocery product online ended up purchasing the item, Hispanic organic product dollar sales have risen 69% vs 52% for Non-Hispanics (from 2012-2015).

Remember to account for diversity in learning styles (and personality types!)

Most winning campaigns featured socially-responsible messaging, perhaps reflecting a focus on millennials. Congrats @IsaacMizrahi

In a fast-paced world where you are expected to do more with less, you can’t afford to be unaware of how Hispanics are impacting your brand’s results. Check out these 3 ways to get started on figuring that out and let us know if you would like us to answer any follow up questions in a future blog post or webinar.

Understand how communication styles and conventions around time, giving feedback and disagreeing publicly differ across cultures, plus each individual’s personality, to establish clear goals, check for upfront team buy-in, ensure members have information and resources to carry out the work, and reinforce group norms.

Between 2005 and 2015 the number of Latinos with American Express cards more than doubled from 1.7 million to 3.7 million. The percent of Latinos using credit cards increased as the percent of non-Hispanics with credit cards fell, their growth in credit card use grew 11 times faster than it did among non-Hispanics.

U.S. Hispanics spend more per person per trip, are more likely to travel abroad and are more likely to book travel online.

Ignoring ethnic shoppers as a distinct market segment may impact product fit and result in increased markdowns in highly ethnic areas.

Food for thought/benchmarking resource

Two-thirds of bilingual Hispanics (67%) learned Spanish as their first language. Bicultural Hispanics use Spanish and English equally throughout a typical day, speaking English 52% of the time and Spanish 48% of the time. Choices are driven by audience, situation and emotion.

Agencies need Hispanic experts with strong functional knowledge to advise peers. In addition, DIAZ&CO. believes it is important to train all employees to apply a Hispanic/multicultural filter to their functional expertise as Hispanic experts can't be involved in every meeting or project.

Check out these 4 ideas to help you make a decision and let us know if you would like us to answer any follow up questions in a future blog post or webinar.

Their solution was to create an online platform that connects companies to Hispanic, African-American, and Native American candidates.

The best candidates to manage diverse teams are a group of people called “global cosmopolitans”— highly educated, multilingual professionals who have already lived, worked, and studied for periods outside their home regions. These people rely on creative, outsider thinking and adaptation to confront new situations. Also, they are able to adapt to changing situations as well as address the subtle and emotional aspects of transition and finally they learn and use new ways of thinking, taking risks that lead to self-efficacy.

Consumer spending among Houston's Hispanics increased 44% to $52.75 billion in 2014 and is expected to top $175 billion by 2034. Figures like that represent opportunity for Houston companies, especially those with employees who speak Spanish

“The Hispanic market has always been important to us, they are very family-focused, and want opportunities to spend quality time together. We recognize the importance of the family and how that connects both with the Six Flags experience but also with moments and mediums we select to reach the Hispanic audience”.