As Hispanic Heritage Month begins, data released in a special report of Edelman’s Trust Barometer shows brand and employer trust matters more among Hispanics than other groups.
According to the data, which incorporated findings from the 2021 Edelman Trust Barometer and subsequent special reports, the Hispanic population tends to trust government (+23%), business (+10%) and non-governmental organizations (+10%) more than media sources. Nearly three in four (73%) Hispanic consumers believe it is more important for them to be able to trust the brands they buy from or use today than in the past, compared to 67% of the general population.
While the data indicates high interactivity among Hispanics with businesses, there is room for companies to grow their relationships with the demographic, says Ana Ceppi, senior adviser of Hispanic at Edelman and co-author of the report.
“Latinos tend to look at leaders and leadership positions as the place where they get their signals from,” she says. “That is a real opportunity [for companies] to connect with [them]. The audience is looking for [brands] to do the right thing because the Latino consumer can walk away from a brand even if they love it.”
According to the report, 54% percent of Hispanic-Americans believe they have a bigger influence on social issues through which brands they choose rather than who they vote for, compared to 44% of Black respondents, 40% of Asian respondents and 38% of white respondents. Hispanic consumers are also most likely to start or stop using a brand because of its response to protests, systemic racism and calls for racial justice (54%) than the general population (42%).
Brands don’t want to be on the wrong side of that statistic, because Hispanics are also very “socially connected,” Ceppi said, noting that, like the Black community, Hispanics are more likely to amplify news and information content than White or Asian counterparts.
Yet among Hispanics, there is high volatility in employer trust. Between May and September, employer trust dropped 13 points, with seven in 10 Hispanic employees saying workplace racism has damaged their relationship with a employer.
Many are also not satisfied with their employers’ role in activism. According to the report, 61% of Hispanic employees said they felt their CEO was not speaking out enough about important political issues, compared to 47% of the U.S. general population.
The data shows employees choose their jobs similarly to how they choose brands: based on their beliefs, Ceppi says.
Of the data collected, 60% of Hispanic respondents said they choose employers based on their beliefs, with the trend highest among those ages 18 to 34. Hispanics also expect employers to accelerate their diversity, equity and inclusion efforts (79%) and take action across issues such as systemic racism (85%), the COVID-19 vaccine (84%), job automation and security (84%), misinformation (84%), climate change (81%) and immigration (75%).
Those who take action are rewarded with Hispanic employees’ commitment (74%), loyalty (67%) and advocacy (71%).
According to the most recent U.S. Census, from 2010 to 2020, the number of people of Hispanic or Latino origin grew by 23% from 50.5 million, (16.3% of the U.S. population) in 2010 to 62.1 million (18.7%) in 2020. Slightly more than half (51.1%) of the total U.S. population growth in the last decade came from Hispanic or Latino population growth, and the demographic reached buying power of approximately $1.5 trillion in 2020.