The following post is a summary from an article by Richie Matthews and Lucía Matthews, DIÁLOGO
There is a new generation in town and it’s called Generation N. Recent trends in technology and online use are suggesting that with a merger of Hispanic and General markets form a new generation: Gen N. Who are these new type of online users? They are characterized as a new, younger, American consumer with a Latino flair. It is reported that one in 6 Americans is of Hispanic descent or origin and that half are under the age of 26. By 2020, the number will grow at by 65% compared to 10% growth of Teens in the general market. If there is one important fact that companies looking to market to this segment need to realize is that Hispanic youth are a powerful consumer force when it comes to purchasing power and influence.
Generation N Defined
- English preferred
- Socially connected
- Technology Savvy
- Leaders of the General Market
An interesting fact to denote is that Hispanic births have surpassed Anglo births, thus businesses are keeping up with the Hispanic baby boom by targeting these young tech savvy Hispanic consumers; integrating online strategies and social media sites into their marketing plans. Local companies look towards experts in social media sites to further understand how and why these consumers use and benefit from these sites. Corporations need to understand the growth of online Hispanic communities and the impact it has on their business. U.S. Hispanic purchasing power is expected to grow $1.3 trillion by 2015 and during the past decade this number has grown double the national rate.
Some consumer brands have already caught on this wave of new generation N. An excellent example of this when Sprint first introduced EVO — the first 4G phone in the U.S. Sprint targeted the product the technologically savvy and implemented brand ambassadors online getting the phone into the hands of the generation N influencers.
Hispanics have an affinity for technology and it enables them to remain connected and to communicate at a global level. It gives them the opportunity to build communities with like minded individuals and thrive as consumers. Marketers working with established models of technology to communicate with Hispanics will move forward with this population well into the new age of technology.
U.S. Hispanics assimilating while maintaining strong ties to cultural traditions and value systems will forever change the American consumer market.
For complete article and source visit: http://www.poder360.com/article_detail.php?id_article=4991
