Two Hispanic media companies including Meredith Hispanic Ventures and NBC Universal’s Spanish-language network Telemundo Group have collaborated for an in-depth study of Latinas. They conducted at-home video interviews with 13 young Latina women in four cities and did a wide-ranging survey of 1,004 Latinas and 500 non-Hispanics.
The study entitled “What Latinas Want” explores everything from Latinas’ financial worries to their favorite brands and bathroom vanity preferences.
Ruth Gaviria, Vice President of Meredith Hispanic Ventures said, “What most surprised advertisers was how technically savvy this woman is once [household income] reaches $50,000, and how much they’ve raised the bar in what they want from the American dream.”
According to the study, conducted by OTX Research, the Latina respondents were slightly more likely than the non-Hispanic respondents to take pictures with a digital camera (45% compared to 42%) and download music to an iPod (28% compared to 22%).
Also according to the results, Latinas are now playing a more modern role in society. Jacqueline Hernandez, chief operating officer of Telemundo said, “She’s the chief household officer, and she’s making all the decisions, from finances to food. She has a new-found self-identity. She’s very ambitious, and wants to have more than her mother.”
81% of those surveyed said they are either the main decision-maker or make decisions with their spouse. The key factors determining their success in life were education, being fluent in English as well in Spanish, and often owning a business.
Latinas are optimistic and self-confident, with 66% describing themselves as “someone who can do it all,” compared with 53% of non-Hispanic women.
Latina respondents said their greatest financial concerns were rising taxes (75%), saving for retirement (71%) and paying bills each month (70%). Not including home mortgages, 44% said they have less than $10,000 in debt.
Other key findings of the report were:
• According to the research, 40% of Latinas described themselves as fashion-forward, 37% said they keep up with beauty trends and 37% prefer to use the latest products, compared to a somewhat smaller number of non-Hispanic women who said they are fashion-forward (31%), keep up with beauty trends (30%) and prefer the latest products (32%).
• Latinas are also loyal to their preferred brands, Hernandez said “She loves beauty and she’s loyal, but she’s loyal to just about every single brand.”
• The video interviews also revealed refrigerators and pantries packed with both Hispanic and mainstream products, as these women prepare some of the same foods they grew up with but add new ones.
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