Segmenting the U.S Hispanic Market:4 Groups You’ve LikelyNeverHeard Of
The U.S Hispanic market is pretty diverse, and to understand this diversity, marketers employ various segmentation strategies to improve the effectiveness of their marketing efforts.
Acculturation is one example, which segments the US Hispanic market into non-acculturated, semi-acculturated and fully acculturated consumers.
Using age as a segmentation strategy is another popular practice among marketers. Segmentation by purchasing power is another, geographic segmentation another, and another and another…
These strategies can be classified as broad-based consumer segmentation, and most marketers build campaigns around the understanding of the segments that are created by implementing these well-known strategies.
However, to effectively reach the Hispanic audience, leveraging broad-based consumer segmentation strategies in alone, isn’t enough. They don’t uncover the motivators in full that drive Hispanic consumers to make a purchase.
As such, granular segmentation strategies also need to be employed as they give a deeper understanding of the nuanced differences existing within the Hispanic community. They can yield consumer sub-groups, targeting whom your marketing efforts are likely to bear more improved results.
Today, going granular, we introduce you four Hispanic consumer sub groups you’ve likely never heard of…
The Opportunity Anticipators
Averaging just under 38 years old, they are the youngest among their peers who make this list. They make plans for everything in advance, trust online reviews and prefer researching their options before they buy. Furthermore, they are avid TV watchersand often hang out with friends. Unsurprisingly, they prefer quick-to-serve meals.
The Free Travelling Spirits
Second on our list and second in terms of seniority – these are the free travelling spirits. Their average age is nearly 43 years. What they earn, they mostly spend it on travel—and on personal purchases.
Four domestic air tips in a year is norm for them. When they’re not travelling by air, they are found driving truck, SUV or a subcompact. Most of their purchases, including travel-related purchases are done online. And the device they use most often when shopping online, are the tablets and smartphones.
The Sophisticated Ones
46 years old, having above average-incomes – these consumers love to treat themselves. They drive luxury vehicles, occasionally visit Hawaii and dine in at upscale hotels. They also frequently attend football and basketball games with family and friends. Hispanics belonging to this group like to decorate their homes with purchases often made at Cost Plus World Market and Pottery Barn.
The Investment-Savvy Homeowners
Older than 50, most people in this group have just retired, own a home and have made smart investments that help them earn a good income year around. They love following sports, in particular, NFL and MLB. When they want to make a household purchase, they prefer shopping at Sam’s Club and Costco.
Do you know about other “lesser-known” Hispanic market segments, the personas of whom you would like to share with us? Drop a comment in the comments section below, we’d love to hear.
Meanwhile, if your target market is the Hispanic community and you need any help in targeting them, feel free to contact us, our Hispanic advertising experts will be more than happy to serve you.