BIGresearch’s SIMM 10 Profiles
Hispanic Diversity
Hispanic Market
Composed of Several Niche Markets
COLUMBUS, OH -- (MARKET WIRE) – 8/30/2007 – Madison Avenue often homogenizes ethnic markets under tidy categories such as African American, Hispanic and Asian Americans. However, BIGresearch’s (http://www.bigresearch.com) latest Simultaneous Media Survey (SIMM 10) of 15,439 consumers indicates that the categorization into generic groups leaves marketers with an inaccurate picture of ethnic groups. This is particularly true with Hispanics as many of whom report being from multiple racial ethnic descents. In SIMM 10, Hispanics identified themselves racially as: as Caucasian (44.2%), Other Race / Heritage (34.6%) and Multi-Racial (16%).
“The breakout of Hispanic/Caucasian, Hispanic/Other Race and Hispanic/Multi-Racial consumers reveals differing cultural identities within the categories which give a real insight into the complexity of marketing to Hispanics who have their own internal diversity,” said Joe Pilotta, VP, Strategy of BIGresearch.
Advertisers should also pay close attention to age and income as social and cultural markers of mobility within Hispanic groups. For example, those Hispanics who identify themselves as being Caucasian are generally older and report a higher income than other Hispanic races:
Average
Age Average Income
Hispanic / All 18+
36.5 $51,918
Hispanic / Caucasian 40.8
$57,748
Hispanic /
Other 34.0 $47,873
Hispanic /
Multi-Racial 33.1
$50,139
"Still too
often marketers and advertisers lump Hispanics into over-simplified categories.
Through increased research we aim to help advertisers and marketers better
understand how they can optimize their ad dollars by effectively targeting niche
markets within the Hispanic market, that often times have more affinity for a
product or service," said David Taggart, general manager Televisa Publishing.
The differences in the niche markets of Hispanics are apparent in their auto purchase plans and media usage such as magazines read most often and radio formats listened to most often.
Top 3 Vehicles Being Considered
All Adults
All Hispanic Hispanic
Hispanic
18+ Hispanics 18+ Multi-Racial
Caucasian Other
Toyota
Toyota Ford Toyota Toyota
Ford Honda Chevrolet Honda Honda
Honda Ford Toyota
Ford BMW
Magazines read most
often (Top 3):
All Adults
All
Hispanic Hispanic
Hispanic
18+ Hispanics 18+
Multi-Racial Caucasian Other
People 3.8% Cosmopolitan
11.8% Cosmopolitan 16.0% Cosmopolitan 8.2%
Cosmopolitan 11.4%
Cosmopolitan 3.2% Vanidades 7.3% TV y
Novelas 6.1% Vanidades 8.2% TV y Novelas
8.5%
Readers Digest 2.6% TV y Novelas 6.6% Vanidades
5.4% People 5.3% Vanidades 6.1%
Radio formats
listened to most often (Top 3):
All Adults
All
Hispanic Hispanic
Hispanic
18+ Hispanics 18+
Multi-Racial Caucasian Other
Rock 35.3% Latin/Hispanic
50.6% Latin/Hispanic 43.1% Latin/Hispanic
41.6% Latin/Hispanic 61.2%
Oldies 31.6% Rock 32.6%
Rock 40.3% Rock 33.4%
Hip-Hop 35.8%
Country 24.7% Top 40/Pop 29.7% Top
40/Pop 34.1% Top 40/Pop 29.6% R&B 34.2%
Across race and ethnic categories, Hispanics tend to have a
greater propensity to purchase big ticket items over the next six months.
Purchase Intentions
Next 6 Months
All Adults
All Hispanic Hispanic
Hispanic
18+ Hispanics 18+ Multi-Racial Caucasian Other
Vacation
28.0% 32.3%
29.9% 33.3% 32.7%
Computer
15.6% 22.4%
27.1% 20.8% 22.2%
Furniture
15.3% 21.6%
21.3% 18.3% 23.7%
TV
13.9% 21.4%
25.2% 19.2% 22.8%
Home
Improvement 13.6% 14.1%
15.9% 14.1% 12.6%
Car/Truck
11.9% 15.8% 17.8%
14.3% 16.0%
“If marketers are interested in strategic media planning and
ROI, then cultural differences must truly be a part of a consumer-centric model,
not just another variable,” said Pilotta.
A complete report comparing Hispanic niche markets is available from
BIGresearch.
http://www.formsite.com/prosper/info/
About BIGresearch
BIGresearch is a
consumer intelligence firm providing analysis of consumer behavior in areas of
retail, financial services, automotive, and media. BIGresearch’s syndicated
Simultaneous Media Survey (SIMM) is focused on consumers to gauge their
consumption across media, products and services. Marketers can use SIMM to
develop the types of consumer-centric marketing plans required to increase
advertisers’ ROI. The SIMM monitors more than 15,000 consumers twice each year.
They also conduct the Consumer Intentions and Actions Survey (CIA) which
monitors the pulse of more than 7,000 consumers each month.
BIGresearch's methodology provides the most accurate consumer information in the
industry with a margin of error of +/- 1 percent.
http://www.bigresearch.com
Contact:
Phil Rist
BIGresearch
450 West Wilson Bridge Road
Suite 370
Worthington, Ohio 43085
(614) 846-0146
phil@bigresearch.com