Archive for the ‘Research’ Category
US Hispanic market statistics
The Hispanic/Latino market is growing in size AND buying power.
Spanish is the official language in 22 countries and is the third most widely spoken in the world (after English and Mandarin). In 2011 there were 165 million Hispanic internet users, a group that grew 807% over the past 10 years. Experts predict that by the year 2050 there will be 530 million Spanish speakers in the world, of which 100 million will be living in the USA.
In the US, the Hispanic market is not only growing in size but also in buying power. Consider the following data, courtesy of eBizMedia and H&R block:
Keeping the culture alive
The majority of US Hispanic/Latinos keep strong ties to their cultural heritage. 35 million US residents still speak Spanish at home. The People en Español Hispanic Opinion Tracking (HOT) Study found that 55% of Hispanics in the US are relatively ‘unacculturated’. This is the group that is least assimilated, living culturally isolated and in Hispanic dominant communities. Not surprisingly, this group responds best to communication in their native language.
A market to be reckoned with
The US Hispanic population is growing in size and their buying power has increased at an even more staggering rate. This combined data reinforces the notion that the Latino market cannot be ignored by any US marketing organization. Latinos are an integral part of the US market as a whole. However, to reach and engage this audience, one has to consider the cultural nuances and language in their communications.
© 2012 Branded Translations.
Branded Translations is a specialized language services agency. We help organizations reach multicultural and international audiences through quality translation and transcreation of marketing and advertising communications. For more information, visit BrandedTranslations.com.
Why language matters to global marketing.
If you landed on our site, BrandedTranslations.com, you may already be considering professional language services for localizing your marketing content, be it online or in print.
In case you’re still on the fence, thinking about ROI and whether localized marketing messaging can make a real difference for your business, consider this article, highlighting the findings of an independent study by the Common Sense Advisory.
The study surveyed more than 2,400 consumers in eight non-English-speaking countries about their online buying habits and preferences. It reveals that language does matter when you’re trying to sell to an international or multicultural audience — even if the reader is proficient in English.
Relevant excerpts from the language study:
- Foreign visitors spend more time on Websites in their native language.
Almost 90% of people who have no or little English ability spend the majority of their time on sites in their own language. How about international visitors who can read and write English? Even 60% of them prefer sites in their own language over English-language sites. - Most people buy from sites in their own language.
Just 10% of the those with little or no English make most or all of their online purchases from Anglophone Websites.If they do speak English, the number jumps to 37%. But that still means that more than 60% of those who can read English prefer buying from sites that are written in their native language. - Most people will pay more for products in their own language.
Nearly 65% of respondents who spoke little or no English confirmed that they would pay more for information they could read in their own language. Those with English proficiency were split even on this proposition.
For more information about translating marketing and advertising content, please contact maarten@brandedtranslations.com.
