Boosting Hispanic loyalty scheme participation
In its most recent issue, Colloquy magazine has explored a significant and largely untapped opportunity for North American loyalty marketers: Emerging Hispanics.
Colloquy's recent Loyalty Demographic Survey found that Emerging Hispanics (those with an annual income of US$40,000 or less) reported the lowest loyalty programme participation rate among five key demographic segments (those being Affluent, Young Adults, Core Women and Seniors).
However, this segment was also found to be the most likely to be actively seeking to join a loyalty programme.
Nearly half of the Hispanics surveyed said they belong to at least one loyalty programme, making it clear that there is room for marketers to do better within this important group.
This is also a segment that presents a unique set of challenges. Marketers are working to reach a population where a large percentage is foreign-born (about 43%) and whose traditional behaviors - use of cash, native language communicating and shopping for traditional foods - must be taken into account.
But Hispanics also tend to be highly engaged and are seeking the right loyalty opportunities more than other population segments, particularly in areas such as grocery and retail.
Hispanics are also the most likely to recommend food and grocery products to friends and family over the next 12 months.
The study also found that Emerging Hispanic loyalty programme participation had increased by 14% from 41.4% in 2007 to 47.0% in 2009.