Target today announced a partnership with Major League Soccer that designates Target as an, “Official Partner” of both Major League Soccer and the Minnesota United FC including logo placement on the team’s jersey.
While some may question the investment in professional sports sponsorship outside of the “big four” (NFL, MLB, NBA, and NHL), Target’s sponsorship of professional soccer hits a sweet spot that allows it to cost effectively reach the rapidly growing Hispanic demographic.
Hispanics make up between 30-40% of MLS viewership according to various sources, approximately twice the rate of Hispanics viewership of the “big four”. This Hispanic focus aligns not only with the expected growth of the Hispanic demographic, but also aligns with the Target customer base.
According to Magid’s Health Pulse study, 21% of Target food customers identify as “Hispanic” compared to only 16% of Walmart food customers.
According to Eduardo Carvacho, Founder & President of cultural marketing firm Gigantico “Target has realized the full potential across Hispanic acculturation levels. On one side, the partnership with MLS allows a strong touch point with Millennials; where close to 50% are multicultural and of which 24% is Hispanic (largest share) and soccer or fútbol generationally has been part of their DNA fandom and participation.” Eduardo further indicated, “The inclusion of the youth component sets the stage to harness sustainable growth if we consider that 35% of US Hispanics are under the age of 18 which is strongly represented within US Youth Soccer Association 3 million participants.”