Digital Trends - Hispanics - US - July 2015
"Hispanics embrace the internet as it allows them to consume the content they want when they want, and stay connected with friends and family. As a result, they are equipping their households with consumer electronics (CE) staples such as laptops, tablets, and smartphones. However, as they become bicultural, Hispanics are adopting an even greater array of digital devices."
This report covers the following issues:
- Brand differentiation is hard to achieve
- Hispanics upgrade CE products where they see value
- Hispanics use multiple devices to do different activities online
- Multiple devices are changing the dynamic around the television
Most CE categories are fragmented and few brands stand out for ownership among Hispanics. In most categories, Hispanics represent an important growth opportunity which can materialize by clearly communicating features that Hispanics, whom are a value-oriented group, deem to be the most important. While Hispanics currently under index on spending on these categories, they may drive growth as a result of an increasing household incomes as Hispanics become more bicultural or acculturated. However, most CE categories are very fragmented, forcing brands to incorporate Hispanic and other multicultural segments in their strategies if they want to capture the buying power of increasingly more sophisticated Hispanic consumers as they expand their collection of CE products.
The fact that Hispanics tend to under index on expenditures in most CE categories should not discourage CE brands from incorporating them in their strategies; as Hispanics become more acculturated and have access to better opportunities, they represent a significant growth potential for brands that spend the time and resources to build a relationship with them.
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