Walmart, Target and Netflix are among the top-performing brands for Hispanic consumers, according to a new report from Collage Group. The marketers were cited for offering value and for their understanding of Hispanic consumers. 

Celebrating Creative Excellence for Hispanic Heritage Month

The Hispanic segment contributed $1.9 trillion in buying power in the U.S. in 2020, higher than both the Black and Asian segments, which contributed $1.6 trillion and $1.3 trillion, respectively, the consumer research firm found.

Walmart, Netflix and Target were the top 3 of 510 brands measured by Collage Group. 

After Target faced backlash over offering merchandise related to Pride Month, the retailer rebounded by supporting Hispanic-friendly causes and ideas, according to the report. Loyalty and rewards are especially attractive to some Hispanic consumers, with 29% saying they would sign up for programs that offer special deals on makeup. Target partnered with Ulta Beauty to offer such discounts.

More than half of Hispanic consumers (56%) also said they like it when brands include cultural holidays in advertising. Target partnered with Mexican American Dr. Linda Parra last December to show how she celebrates Dia de los Reyes Magos (Epiphany). And 80% of Hispanic respondents said companies should be involved in social and political issues in some respect. Target pledged $5 million to be a founding donor to the National Museum of the American Latino.  

Target’s focus on representing the bicultural Hispanic experience also makes it a brand worthy of trust, according to the report. 

Other brands in the top 20 among Hispanic consumers include Crayola, Nike, YouTube, Starbucks, Google, Amazon, Dove, Coca-Cola and Disney. 

Nike has a long history of supporting and connecting with the Hispanic consumer, with 59% of those surveyed perceiving the brand as being “on the rise.” The study cites Nike’s diverse product offerings and a mission in line with Hispanics consumers’ passion for sports and fashion, collaborations with Hispanic creatives, internal Hispanic representation and early success with Nike Cortez shoes.

The Nike Cortez line, which debuted in 1972, became a cultural symbol for Hispanics in Southern California. Fifty-eight percent of respondents report having a positive experience with Nike, which is important or very important to them when choosing which brands to buy.