Adweek recently reported some statistics taken from the Yankelovich Monitor Multicultural Marketing Study - finding that African American and Hispanic consumers display a high rate of brand loyalty. Hispanics responded with 58 percent saying "It is risky to buy a brand you are not familiar with," with 55 percent of African Americans responding the same way.
In a statement, Sonya Suarez-Hammond, director of multicultural marketing insights for Yankelovich said, "The ability to reach African Americans and Hispanic consumers in a way that truly strikes a chord and connects with their deep-seated cultural values and beliefs is critical. Brands must show that they understand the ethnic consumer by crafting culturally appropriate and targeted messaging that speaks directly to them." The study supports Suarez-Hammond's statement. Both groups are reconnecting to their ethnic roots, with 67 percent of African Americans and 71 percent of Hispanics responding, "My roots and heritage are more important to me today than they were just five years ago."
These groups have big buying power. See Website Services Magazine's August issue, which features Judy Colbert's report from SES Latino - a very informative conference focused on marketing to the vast Hispanic population.