Hispanic consumers have endured exceptional financial volatility—mostly bad—during the pandemic. Even in normal times, this population is a moving target, with its diverse components evolving in financial strength, degrees of acculturation, and digital engagement.
Asian Americans were also 50% more likely to usesocial media for consumer ratings and reviews. Because of this penchant for reviewing purchases, they could become loyalists after favorable brand experiences, according to Nielsen.
Growing buying power of the Hispanic market: By 2025, Hispanic consumers will account for over 12 percent of total US purchasing power, underscoring the opportunity marketers and brands have to profit from catering to them.
Augmented reality (AR) is becoming more widely available on social platforms. It’s mainly been a tool for entertainment and brand awareness, but the pandemic is pushing marketers to explore new use cases.