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The Hispanic Market Opportunity
As of 2021, there are 63.6 million Hispanics in the U.S., representing 19% of the total U.S. population. They are the fastest-growing segment of the population with 59% growth between 2010 and 2021. Gaining and nurturing the trust of this large segment now will pay dividends for your brand for decades to come.
Hola Insights works with brands to make their products and services more compelling to the Hispanic market. Our qualitative market research services center on in-depth interviews, focus groups, and shop-along research conducted in English and Spanish to understand the thoughts, reactions, beliefs, and emotions of your target market.
The Hispanic Sub Cultures
The Hispanic market is complex because there are so many different cultural backgrounds that make up this Spanish-speaking segment. "Overall, the 10 largest Hispanic origin groups—Mexicans, Puerto Ricans, Cubans, Salvadorans, Dominicans, Guatemalans, Colombians, Hondurans, Ecuadorians, and Peruvians—make up 92% of the U.S. Hispanic population" (Pew Research Center) Brands need to understand the distinctions between these markets if they want to market successfully to them.
How long someone has been in the U.S. also plays into how they receive messaging and their consumer behaviors. Hispanic consumers who are new to the U.S. will behave and react differently to brand messages than Spanish speakers who have been in the country for decades. An understanding of these nuances will make marketing your brand to Hispanic consumers more successful.
Natalia Infante Caylor, Ph.D. founder of Hola Insights is a native speaker of Spanish who understands Hispanic cultures. She can help your brand navigate these influencing factors as well as factors like how long someone has been in the US which also influences their behaviors and choices.
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