Page 34 - Synchrony US Hispanic Market Playbook
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EMBRACING CULTURAL DUALITY
Most Hispanics do not want to assimilate. This is an antiquated concept that is no
longer relevant today. However, in an effort to keep marketing budgets from
escalating, many marketers favor a “one-size-fits-all” Total Market approach that
treats all consumers alike, under the misguided impression that this is an efficient use
of their marketing dollars.
A 2018 Monitor Study conducted by Kantar Consulting examined the state of the US
consumer marketplace, including perspectives on the multicultural segment, and
found that:
92% of Hispanics believe that it feels natural to live in the U.S. and connect to its
culture, yet still, retain the culture of their country of origin.
Furthermore, 80% of Hispanics feel entirely comfortable being the only person
of their ethnicity in a large group of people. This number reaches 86% among
Millennial Hispanics and 93% among centennial Hispanics.
The study highlights that strategies based on culture & language when well executed
can unlock areas of opportunities for brands that are seeking to accelerate their
business performance further.
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