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The holiday season is here and the shopping is in full swing. Despite the current state of the economy, customers are finding ways to keep the holiday spirit alive by going on a bargain hunt and shifting spending to spend more on gifts. According to a study by Deloitte, “Household finances may be at their weakest level in a decade, but spending remains steady as consumers cut non-essentials to gift-giving and socializing.” In addition, after reducing spending in 2021, low-income shoppers plan to spend 25% more this year. While Americans are adjusting their spending strategies because of inflation, companies need to understand and advocate for growing consumer segments by creating genuine, authentic marketing campaigns that make them feel welcome.
For the 2022 holiday season, brands should put more emphasis on their Spanish holiday marketing efforts. Why? The Hispanic community is the second fastest growing minority market in the US, with an increase of 212% or $500 billion since 2000. There are more than 60 million Hispanics in the United States, and in 2019 they accounted for more than $ 1.5 trillion in purchasing power.
So, here are three ways to properly promote the Hispanic community while creating lifelong customer loyalty:
Related: Hispanic Consumers in the US: A Demographic Revolution in the Business World
1. Show your understanding
It is important to emphasize that the Latin American community is not a monolith and that this community is very proud of its American culture and the culture of its countries of origin. According to the Pew Research Center, “Black and Hispanic adults are more likely than white adults to say their heritage is central to their identity and feel a strong connection to their family’s cultural roots.” Therefore, an organization’s marketing efforts will appear more authentic if they demonstrate an understanding and appreciation of Hispanic culture.
While some may think that these holidays consist only of La Navidad, there are many more days of celebration and reflection, including La Inmaculada Concepción de María, Las Posadas, Nochebuena, Día de los Inocentes, La Noche de Fin de Año, and Dia de Los Reyes Magos. Marketers need to fully understand what these special days entail so they can better position themselves when advertising to this community.
A good example of a company that showed understanding is Publix. On their website, they posted traditional Latin American holiday recipes and a link to the ingredients that customers could find in the store.
2. Add Spanish
Incorporating Spanish into an organization’s marketing efforts will further strengthen the bond between the consumer and the brand. According to the Kantar 2021 US Monitor report, “88% of Hispanics in the US say they value companies that speak to them in Spanish, and 87% believe that companies that make a genuine effort to be part of or invest in their community, earn their loyalty.” With 71% of all Hispanics speaking Spanish at home, primarily or in combination with English, using Spanish as part of a company’s marketing efforts will enable the organization to forge a deeper connection with its target market.
A good example of this is Disney animation studios. The organization incorporated Spanish words into its Christmas message and used designs from the award-winning film, Encanto.
Related: 6 reasons corporate America is missing out on trillions of Spanish dollars
3. Focus on building community
While marketers may be trying to place catchy ads during this time, the main goal they should be pursuing is creating a community of lifelong, supportive customers. Building a lifelong relationship requires a deep understanding of the community, standing alongside the community in times of crisis and creating opportunities for the community to thrive. One company that has done a great job of this is Target. In their most recent diversity report, Target shared that nearly 30% of their entire team, more than a fifth of their managers, and 10% of their officers are Hispanic/Latino. Target also has a longstanding partnership with the U.S. Hispanic Chamber of Commerce, offering more than 60 Latino-owned and founded brands and invested more than $1.1 billion in Latino-owned suppliers, media, localization efforts and community organizations.
In terms of their marketing efforts, Target launched a multicultural holiday series called “Welcome To” where they celebrate different holidays throughout the year by highlighting Target customers from those communities. In addition, in 2021, Target presented Día de Reyes and highlighted how one of its customers celebrated this day with their family.
Related: 4 successful ways businesses need to adapt to a growing Hispanic demographic
Like other communities, the holiday season is a time when the Hispanic community gets together with family and friends, has big spreads/dinners and spends time thinking about the year ahead. If brands really want to reach the Hispanic consumer, they must partner by supporting the community, celebrating with the community and providing opportunities for the community. Finally, when conducting Spanish marketing, it is important to include elements of the Spanish language and overall culture in the campaigns.