||Hispanic Men Present Enticing Sales Opportunities
Companies may be missing a golden opportunity by appealing to Hispanic males.
According to recent research from Mintel, 42 percent of Hispanic men and 55 percent of Hispanic fathers are the top decision-makers on household purchases. The figures point to a key growth opportunity for marketers.
In addition, the research found that influence in the household also varies with age. Approximately half (54 percent) of Hispanic men aged 45 to 64 have the most influence on their household purchasing decisions, as do half (50 percent) of Hispanic men aged 35 to 44, vs. 44 percent of those aged 25 to 34.
"Everywhere we look, marketers are directing their focus on Latinas, but brands are forgetting to talk to Hispanic men. Ignoring Hispanic men is an unwise mistake as this growing group, like most men in the U.S., has taken on a greater role with household chores, caring for children and shopping for the household," explained Leylha Ahuile, senior multicultural analyst at Mintel.
"Marketing efforts that discuss how Hispanic men, and Hispanic dads in particular, can obtain top value in their household purchases could set a grocery retailer apart from its competitors, leading to greater loyalty among Hispanic men who are buying food for the household. By failing to reach out to Hispanic men, brands and retailers will miss out on the chance to establish themselves as the first choice among a segment of shoppers poised to gain great influence in the coming years."
Despite the active role Hispanic men play in household decisions, marketers don't seem to quite understand them. Two-thirds of Hispanic men believe they are stereotyped by advertisers; meanwhile, half of Hispanic men think that Hispanic women are positively reflected in the media.
"Hispanic men feel like they are misrepresented in the media. This means that marketers may be missing the mark with their advertising initiatives in both Spanish- and English-language media. By having greater sensitivity to Hispanic culture, stereotypes could be omitted from ads and a higher level of engagement could be reached," Ahuile said.
As for key purchasing factors, 44 percent of Hispanic men bought a new product after first sampling it in a store, while 42 percent made a purchase after a friend or family recommended the product. In addition, 32 percent of Hispanic men are more likely to be influenced by ads on Spanish-language TV than ads on English-language TV.
Broken out even further, Hispanic men are more brand loyal than Latinas and are often willing to pay a bit more for their preferred brand. According to Mintel, 35 percent of Hispanic men think more expensive brands of laundry detergents are more effective than bargain brands -- vs. 31 percent of Hispanic women -- and some 58 percent of them only shop at their favorite stores because they are confident they will find the brands of merchandise they like there.
However, among other ethnic groups, Hispanic men are the least likely to take over grocery duties. Sixty-nine percent of Hispanic men purchased food products in the last 12 months, compared to 83 percent of their White counterparts, as well as 81 percent of their Asian and 71 percent of their Black counterparts, Mintel added.
(Source: Convenience Store News, 02/18/13)