What Type of seeker are you? -303-955-4220

Last year, Nielsen and the Association of Hispanic Advertising Agencies (AHAA) identified Upscale Latinos as the most influential segment since the Baby Boomers. Upscale Latinos are becoming a significant population segment and have grown by more than two million since 2010.

“Recognizing the diversity within the Hispanic population in the U.S., Nielsen and AHAA embarked this year on a second study to further understand the behavior of upscale Latino households, what drives them toward upscale-luxury purchases, and what drivers and detractors they share—or don’t share—with non-Hispanic upscale households.” Here are some essential points that they found:

• The number of Upscale Latinos with an annual income range from $50,000 to $100,000 is growing.
• They account for 29% of Hispanic homes and more than 15 million Hispanics.
• They spend about $500 billion annually, representing 40 percent of the $1.3 trillion Hispanic purchasing power.
• At least 60 percent say they have strong ties to their Latino culture, and 30 to 40 percent voice a solid cultural duality.

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According to “the upscale Latino 2.0” study by Nielsen/AHAA, this is the percent of upscale Hispanics that say within the next 12 months they will have sufficient resources to:

•  47% to pay rent/mortgage
•  39% to live in safe neighborhoods/good public school
•  33% to pay off credit card debt
•  18% to qualify for a mortgage

One Powerful Segment, Three Different Mindsets

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Nielsen and AHAA identified three distinct sub-mindsets within this group, and this is how they describe them:

• Luxury Seekers (42%) are primarily drawn to high-end products for individual rewards and to feel good about themselves. Thirty-four percent of upscale non-Hispanics fall into this sub-segment, making them less likely than upscale Hispanics to be luxury seekers.
• Sensible Seekers (40%) are pragmatic about their purchases and make high-end decisions when it makes sense. There is a more excellent distribution of upscale non-Hispanics in this sub-segment at 48 percent.
• Social Seekers (18%) see high-end goods and services as timeless and classic; they seek recognition and social status. Upscale non-Hispanics also make up 18 percent of this sub-segment.