Latinas Living La Vida Rica
A report from Nielsen recently called upscale Latinos, “the most influential segment since the baby boomers,” controlling $4 out of every $10 spent by Hispanics. According to the study, Hispanics are helping shape the landscape of America’s economy and have become a game changer for marketers. Latina women are at the forefront of this new wave of power; the percentage of Latinas earning more than $50,000 has grown more than 200 percent over the last 10 years. Such statistics, and the realization that this group is largely being ignored, inspired Journalist Alida Valdes to create a media destination specifically for upscale Latinas. RICA magazine, scheduled to launch November 15th, will cover lifestyle content: from fashion and beauty to books and celebrities. RICA will target the fast-growing demo of sophisticated Latina women who are very much interested in reading about these topics. Valdes says the magazine will avoid being overly ethnocentric. According to her, a mistake with ethnic websites is that they assume the Latina only wants to read about people like her. Instead, the magazine will cover content usually seen in magazines such as Town and Country or Uptown, but through a Hispanic and luxury lens. While publications like People en Español and Latina have been successful in targeting a broader Hispanic audience, publishers agree that not much attention has been paid to the luxury Latina consumer, going so far as to say the upscale Latina has been underserved and maybe even ignored. Why are we sharing this? Valdes’ initiative to create a new category in publishing points to the fact that Latinas are growing as a powerful consumer, ready to be taken seriously. Now is the chance for advertisers to target this demo and court her with luxury brands. However, as Adweek mentions, while advertisers want niche, they also want scale. Whether RICA can attract enough upscale Latina readers to warrant advertisers’ attention, only time will tell. Link to Article: http://www.adweek.com/news/press/rica-new-online-lifestyle-magazine-targeting-wealthy-latinas-153092