Have you seen Target’s latest ad, Summer Prep?
With a catchy jingle by Argentinian musical duo, Illya Kuryaki & The Valderramas, it seamlessly integrates different ethnicities with Latin flare — and lots of summer season whimsy. It’s also the second of Target’s multicultural ad campaigns for 2013. The first, Clap Your Hands, aired earlier this year and was the retailer’s first bilingual baby campaign.
These ads are part of Target’s current strategy aimed at winning Hispanic consumer loyalty. So far, Latina Magazine’s response has been favorable. And Target’s approach makes sense given the spending power of this fast growing demographic.
More and more marketers are focusing on Hispanics and how to reach them. In fact, a recent Nielsen and AHAA study, identified an emerging segment within the Hispanic population that accounts for 37% of their spending power – Upscale Latinos. They’re young, urban, sophisticated, and believed to become as lucrative to marketers as Boomers.
The future buying power of Hispanics was also discussed at the Marketing to Women Conference in Chicago, this past April. Conill (part of Saatchi & Saatchi) spoke about the importance of marketing to Latinas. These young, well-educated, affluent women are transforming their homes by redefining spousal roles, delaying motherhood, and prioritizing indulgences over household duties. As a result, marketing tactics must evolve to meet their needs.
So it seems that Target’s strategy for Hispanic shoppers is right on track. And it’s likely they’ve gotten there with the help of rigorous, in-depth research — one-on-one conversations, observations, and quantitative measurement — to really get to know this demographic inside and out.
For marketers, this knowledge is crucial to success — which is why Shopper Insights Research is invaluable. The fact is, engaging Hispanics goes beyond simply using their language. To truly ‘speak’ to them, you must understand what they care about and how it affects their buying decisions. And most importantly (based on these insights), how your brand fits (or can fit) into their lives.