Walmart, Netflix and Target rank among the top brands with Hispanic consumers, according to theCollage Group, a certified Minority Business Enterprise consumer research firm.
In honor of Hispanic Heritage Month, the firm released insights about the Hispanic American consumer.
The top brands show both a strong commitment to the Hispanic community and marketing executions that resonate with the needs of Hispanic consumers, the Collage Group said.
In addition to Walmart, Netflix and Target, several other brands received high marks. They include Crayola, Nike, YouTube, Starbucks, Ross Dress for Less, Google and Amazon.
Why does Hispanic Heritage Month begin on Sept. 15?
Sept. 15 is the anniversary of independence for Latin American countries Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua.
Hispanic consumers have seen their purchasing power soar over the span of a decade. In 2020, rising incomes and the growth in the size of the Hispanic population in the U.S. contributed to $1.9 trillion in buying power, the Collage Group said.
Other key findings in the report include 80% of Hispanics saying brands should be involved in social and political issues in some respect. Additionally, Hispanic consumers, at a rate of 56%, said they like it when brands include cultural holidays in advertising.
Hispanic Heritage Month is celebrated from Sept. 15 to Oct. 15.
