Latino Micro Trends 2010-2015: Trends 1 & 2

Posted by George San Jose in Latin America, Total Market | 3 comments

Tony D’Andrea, PhD, Director of Planning and Research at SJG

Why not macro trends one may ask. Because these refer to large yet widely publicized demographic trends: 51 million U.S. Hispanics with $1.3 trillion in purchasing power, indexing higher in the consumption of a variety of product categories, and responsible for most of the U.S. population growth in a decade. In contrast, there are molecular phenomena that emerge at a local or subcultural level. Not so easily identifiable, they often remain under the radar until it is too late. Some fizzle out while still at an embryonic stage, whereas others do go mainstream.

For marketers, “micro trends may anticipate large scale consumption patterns of tomorrow. To investigate these possibilities is not merely fun or cool, but provides powerful resources for strategic and tactical advantage,” notes Mark Revermann, VP of Insights & Integration at SJG, multicultural marketing agency that sponsored the study. Several micro trends arising from the diasporic world of U.S. Hispanics are summarized below. They provide food for thought on what will be happening among Latinos and society at large; interesting possibilities to be creatively explored – and even expanded – by marketers.

Women Entrepreneurial Boom: According to U.S. Census Bureau, 788,000 Hispanic women currently run their own business, a growth of 46% in five years (against a 20% national average). Latinas are thus one of the fastest growing business groups in America. Among reasons for becoming entrepreneurs, they want to explore professional and economic opportunities often denied to women (of all ethnicities) in structured corporate environments. Their growth antecedes wider changes in Latino consumer behavior and lifestyle aspiration. Along with more demand for products and services that deliver convenience, time-saving and resourcefulness, brands that recognize the new Latina values of assertiveness and independence will be at an advantage.

Blogueras: While market studies have shown Hispanics as highly engaged in social media, there is a growing number of professional blogs run by educated Hispanic women. Mama Latina Tips, Latina on a Mission, Modern Mami, and Spanglish Baby discuss current issues through a bicultural angle: lifestyle, children, fashion, career, and modern life, in English or Spanglish. Each of these blogs hosts about 20,000 visitors per month. If brands want to take part in this conversation, they must actively participate in the Latino blogosphere by means of interactive promotions, partnerships and sponsorship.

Check back in the coming weeks for additional Latino Micro Trends from 2010 – 2015!