Archive for August 24, 2011

Keeping it in the family

Written by admin on . Posted in Hispanic, Marketing, Research

Hispanic Young Family

Hispanic Young Family

In general the ‘Hispanic Family’ is described as follows: “Traditionally, the Hispanic family is a close-knit group and the most important social unit. The term familia usually goes beyond the nuclear family. The Hispanic ‘family unit’ includes not only parents and children but also extended family,” or so says Rebecca M. Cuevas De Caissie in “Hispanic Cultural Values Family”. In a separate article, “The Meaning of Family,” the same author says that “Family in the Hispanic Culture is the center of our existence.”

It is not news to anyone that “The Family” is one of the largest parts of the Hispanic cultural experience; it does however, go a long way in describing some of the cultural trends seen in Hispanic business practices. I recently read an article entitled “Hispanics Embrace the ‘American Dream,”describing recent trends in Hispanic-owned businesses in the US. The findings were part of the Massachusetts Mutual Life Insurance Co.’s (MassMutual) “Business Owner Financial Wellness Study,” which were presented at the Association of Latino Professionals in Finance and Accounting’s (ALPFA) national convention on August 6-10 in Anaheim, Calif. Fifty four percent of the general population of business owners plans to pass their businesses on to their children, whereas 70 percent of Hispanic business owners plan to do so.

This speaks to another trend seen within the Hispanic marketing community. In recent years, groups of Latina bloggers have been growing in both numbers and power. These Blogueras are often referred to as “Mami Bloggers,” as a large majority blog about family issues surrounding raising children in the US. Seen in a familial context, these ‘mother figures’ are more apt to be seen as a trustworthy resource. Family in the Hispanic community remains an essential dynamic for the health and well being of the community. These are just a few ways it has woven itself into the US Hispanic experience.