How has the Pandemic Impacted the Hispanic Market?
Covid-19 has impacted people of all backgrounds, and the Hispanic community has been no exception. From health, family, finance, shopping habits, and more, keep reading to find out how the community has reacted and adapted to major changes - and learn what it spells out for Hispanic marketing as a whole.
Hispanic Communities have Experienced Major Changes to their Everyday Lives
Hispanic families and individuals have been feeling the pressure of the pandemic in more ways than one. The most obvious result of Covid-19 is the impact it’s had on the health of the nation’s Hispanic communities - with Latinos facing life-threatening difficulties from the virus at a rate that is estimated to be about four times the rate of non-Hispanic whites. The prevalence of Latinos in service jobs, a lack of access to health care, a likelihood of having pre-existing conditions, and the common cultural practice of multigenerational living have all contributed to why the virus has had such a major impact within the community.
While employment rates have fluctuated in the past year as a result of lockdown restrictions and mass layoffs, the unemployment rate for U.S. Hispanics increased from 4.8% in February to a peak of 18.5% in April, before dropping down to 14.5% in June. In addition to worrying about their own mental and physical health, finances, employment, etc., many Latinos have also faced the added stress of navigating childcare as a result of school closures and schedule changes.
Consider the stats below:
- About 4 out of 10 Hispanic adults with children younger than 12 at home say handling child care responsibilities has been difficult for them during the outbreak, compared with 28% of their white counterparts with children of the same age group.
- More Latinos (24%) than whites (17%) say that the coronavirus has had a negative “major impact” on their mental health.
- Among Latinos, 28% are considered to be in the “high psychological distress” category (28%), which is higher than their black (26%) and white (22%) peers.
Latinos are Glued to their Digital Devices More than Other Groups
Like many consumers across the country (and across the world too), the pandemic has accelerated the rate of digital transformation and increased the amount of time people spend on digital platforms. Undoubtedly, video streaming has emerged as a key player to combat boredom, stay entertained, and has served as a talking point among friends and family who bond over their favorite shows and movies. It also tends to be a lower cost alternative to traditional cable TV. For more information on this topic, feel free to check out our post here about reaching Hispanic audiences with video streaming.
Hispanics in particular have been early adopters of video streaming subscriptions pre-pandemic, with
61%
of them signed up for two or more video streaming services. Despite already being signed up for these services, it’s also estimated that
over half
(60%) of the Hispanic population is now spending three to five more hours than usual streaming video as a result of staying home more.
Prior to the pandemic, Hispanics have over indexed on social media use as well. As an efficient way to stay in touch with friends and family - especially for those with loved ones living in other countries - social media use has skyrocketed even further among the Hispanic demographic as a key information resource. A whopping
57%
of Latinos are more likely to use social media platforms as a primary source of information about the coronavirus compared with non-Hispanics. They’re turning to their smartphones for news, health advice, entertainment, and staying connected with friends and family.
Shopping among the Hispanic Market has Increased, with a Huge Shift to Online Shopping
While the Hispanic community has faced both health and economic uncertainties, this hasn’t stopped them from shopping.
With the interest of both themselves and their families in mind, the Latino market has embraced online shopping at
rapid rates
that outpace the general population:
- Hispanic adults (26%) are more likely than white (19%) and black (20%) adults to have used a food delivery service instead of going to a restaurant or grocery store as a result of the coronavirus outbreak.
- Hispanics are paying attention to online sales and offers, with over half (55%) saying “there are more sales and offers online right now” and 45% believing “they are visiting web pages more often and therefore see the sales more.”
- Hispanics are shopping more in a single day than the general population, with 16% saying they are shopping at least every day, compared to 14% of the general population.
How can you apply this information to your business and to the Hispanic market as a whole? It doesn’t have to be complicated. By advertising online and emphasizing your business’ online offerings, you can provide the value and convenience that Hispanic consumers are looking for.
Want to see an example of how businesses can help the Hispanic community while also generating interest for their services? Check out our case study from April of this year to see how TurboTax partnered with our San Diego team to inform Hispanic audiences about their finances during the pandemic - you won’t want to miss out on these results.
How do Changes in Consumer Behavior Affect Hispanic Marketing?
Now is the time to get started with Hispanic marketing - and Hispanic digital marketing in particular. With the accelerated growth of digital platforms across the board, coupled with higher usage rates among Hispanic consumers, developing a Hispanic digital marketing plan can be a perfect match for your business.
Given the facts that we know about how consumer behavior and expectations are changing as a result of Covid-19, businesses who do their part to reach consumers online, offer safe at-home/digital alternatives, and who can demonstrate their value will see their efforts pay off in the long run. By engaging with Hispanic consumers on their most frequented platforms through YouTube video marketing, Connected TV (CTV) marketing, social media marketing, and more, your business can ensure that its ad dollars are going to good use among a highly receptive digital audience.
Does your area have a large or growing Latino audience? As the public continues to push for inclusivity, are you considering the ways your business can be more inclusive when it comes to your marketing plans? Whether you’re beginning from scratch with your digital marketing strategy or looking to spruce up your current strategy, a Hispanic digital marketing agency can offer you the expertise and industry knowledge you need to get started.
Click
here
for tips on what to look for and how to choose a local Hispanic marketing agency in your area.
How to Get Started with Digital Marketing
From shopping online for safety and convenience, to digital entertainment from social media and video streaming, marketing across these wildly popular platforms and increasing your business’ online presence is no longer an optional method for reaching consumers - it’s the primary method.
With the Hispanic market in need of convenience and safety, along with their hyper-digital tendencies that allow them to stay connected and entertained, reaching this group with the help of a strategic Hispanic digital marketing plan can make a huge difference for your business.
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to find a location near you today. Curious to learn more?
Check out our services, and feel free to
contact
one of our expert digital marketing consultants. No question is too big or small!
