MIAMI: Hispanic women are bicultural, educated and looking for brands to recognise the diverse range of roles they fulfil, according to a new study.
The Latina SmartPurse was published by BODEN, a cross-cultural communications agency, and based on an online survey of 2,024 Hispanic females aged 18-54-years-old.
And it found that this demographic is increasingly well-educated and wields considerable spending power, as part of both the $1 trillion spend among Hispanics and the $7 trillion spend among US females.
Seven in ten Latinas have completed at least some college or university education, and they earn almost 50% or more of their household income, it reported.
They are more likely to spend money on brands that recognise their background, the study added: specifically, 77% of those surveyed indicated they would purchase from a brand that invested in Latinas.
And two-thirds agreed that it was important for brands to develop content specifically for Latinas, while 57% agreed they were more likely to purchase a brand if its social media content reflected their Hispanic culture.
The type of content likely to appeal will tend to depict this group in a range of roles, like mother, career women and contributor to society. The language of preference was English but 62% still wanted the option of viewing content in Spanish.
"We are seeing a continental shift in Latina females and their role in our society and economy," said Natalie Boden, president of BODEN. "They are playing many roles as business owners, mothers, cultural evangelists, and societal influencers."
When they go shopping, 70% said they cared more about quality than price; on groceries, 56% preferred to buy products from a store selling specialty ingredients from their country of origin.
Social media emerged as playing a prominent role in Latinas' lives, as they spent an average of five hours a day on this channel to connect with family and friends, research products, and follow brands they trust.
"Understanding the power the Latina holds in US households is key to earning her purchasing dollars," said Boden.
"It goes beyond being culturally relevant," she added. "It's about engaging her with content that speaks to her preferences, her triumphs and her ever-evolving identity, and providing her with the tools to continue to help her succeed in the US today."
Data sourced from BODEN: additional content by Warc staff