Bloomberg Línea — Hispanics’ belief that neither big brands nor the media represent their values is on the rise, according to preliminary data from the Hispanic Sentiment Study, conducted between 2018 and 2023 by the We Are All Human Foundation, Nielsen, Toluna and TelevisaUnivision.
In the initial 2018 study, 54% of Latinos said they believe that big brands represent their values. However, in 2023 that belief had decreased to 45%.
Covid-19, the economic crisis and the DEI (Diversity, Equity and Inclusion) revolution, has over the past five years generated a growing sense among Hispanics of being relegated or ignored by big brands.
This is paradoxical, given that the Hispanic community has increased its economic power, with a spending capacity that has now surpassed $2 billion, and which is why it is a niche that brands and media should not ignore.
Overall, Latinos still feel undervalued, with a significant percentage (43%), versus 53% in 2018.
Ana Valdez, who runs production company Valdez Productions, says that the lack of representation of Latinos in US mass media (beyond the negative, such as presenting them as bearers of bad news or with narco or servitude roles in movies and series), has meant that big media companies in the US have preferred to ignore the community.
“They have simply ignored us. We are invisible, but when they make us visible we are negatively visible,” says Valdez.
On the other hand, Latino-owned businesses contribute $472 billion to the US economy and employ 2.9 million, according to accelerator Foward.
The opportunities are there for all to see, although many ignore it. However, the numbers are compelling:
- Sixty-seven percent of Latinos feel their values are best reflected in small businesses, and 60% feel they are best represented by people in their community
- Latino identity has strengthened over the past five years through cultural elements such as language, music, food and the value of hard work
- Latino pride has increased from 61% to 64%, and the feeling of unity as a community has grown from 48% in 2018 to 55% in 2023
- Despite cultural unity, divisions exist at the political level. Only 27% feel unified as a political group. In addition, 42% of Latinos believe their values are shared with most Americans, down significantly from 68% in the previous study