Hispanic Americans are especially close to their families – not just emotionally, but physically. A variety of research* demonstrates that:
- Hispanic Americans are more likely than any other group in the country to be living in a multigenerational home;
- Hispanic American households are 22 percent more likely than other groups to be living with children under the age of 18;
- Two out of five Hispanic Millennials live with their parents.
Why is this important for brands? Our families directly influence what we as consumers value and how we make a variety of decisions. For brands and marketers, understanding the close-knit nature of these families is crucial because Hispanic Americans have strong influence on each other.
Hispanics are 74 percent more likely than non-Hispanics to be persuaded by their children to buy products, 28 percent more likely to be influenced by other family members, and 22 percent more likely to be influenced by their spouses.
In short, Hispanics value the opinions of family.
Keeping in mind that Hispanics spend more money than any other group in the U.S., the amount of products purchased on a daily basis in the typical Hispanic American household is astounding. From shampoo to sneakers and from cleaning products to Netflix subscriptions – it’s a goldmine for visionaries seeking to bring their brands to a massive audience, one who’s eager to advise their siblings, parents, and spouses on what to buy next at the store.
Hispanics have greater power to influence siblings, parents, and extended family because, more often than other groups, they’re more often than not living under one roof. Businesses that understand these layers of influence can not only directly market to individuals, but also indirectly to the entire family.
That’s where bilinguality comes in. The majority of Hispanic Millennials speak both English and Spanish and marketers can use Spanish to reach both the first and second generations of the family. Meanwhile, Hispanic Millennials absorb the English campaigns and later discuss them in Spanish with their families, which has great advantages for brands. But for it to work, brands must better understand today’s Hispanic American families instead of communicating to them in tired, clichéd ways.
The reality is Hispanics’ buying power is reaching new heights every year. Whether it’s picking up a bag of fertilizer for the yard or buying a new Netflix subscription for the family, we spend a significant portion of our income in many different markets. And most importantly, we talk about all of these decisions with whom we’re closest: family. #FamiliaParaSiempre #AlwaysFamily
*Source: Viant IMP