Throughout Women’s History Month, we have highlighted the influence of Hispanic women in the United States within important economic sectors such as film, fashion, technology, and politics.
While it is true that 61% of Hispanic women are part of the U.S. workforce, in recent years, they have become high-end consumers, leading the charge in many industries.
Business owners should carefully consider this information because your ideal client could be within this group of consumers.
A survey conducted by the Nielsen Group presented the following data:
- In 86% of Hispanic families, the primary buyer is the woman.
- 52% of Hispanic women over age 50 own their own home.
- The percentage of households with Hispanic women over age 18 earning $75,000 or more per year grew 5 points over the last ten years.
- 74% of Hispanic women recommend their favorite products to others.
Hispanic women use social media to recommend products and show their support for brands and companies at higher rates than other women.
That’s 31 million Hispanics with the financial means to buy and the desire to do so.
It is more than evident that the power behind Hispanics as potential customers is a key factor in the economy.
The next step is for you as a business owner to create opportunities to convert them into loyal consumers. For this to happen, you need to recognize their needs and assess the unique behavioral characteristics of Hispanic women. At this point, you may think they are like any other segment of the population, by thinking you can reach them through offers or discounts.
But take caution! It’s not that simple.
It is crucial to remember that Hispanic women are bicultural. They transition easily between both cultures. On one hand, they promote intercultural affinity by sharing their cultural roots with friends and family. On the other hand, they live immersed in their community’s current affairs, technological advances, fashion trends, and meeting basic family needs.
It is also important to note that these stats will increase since Hispanics make up the majority of the female population in cities within California and New York. If the trend continues, female Hispanic consumers will take the lead in the coming years, and their opinion will be crucial.
We are confident that business owners or other marketing professionals who take this information seriously by successfully reaching out to this segment can expect higher revenues in a shorter timeframe.
Count on us to help you conquer Hispanic women and turn them into your ideal client.
Source of statistics: www.nielsen.com.