Category: Hispanic Market

Brands will growHispanics are a powerful market and they are here to stay, making this country a bigger nation around the world. Whether you agree or disagree, Hispanics are also very influential as consumers. They play an important role from product consumption to brand perceptions.

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Marketing ResolutionIt is amazing to see some big corporations that are still deciding if Hispanics should be part of their marketing efforts this year or not. Some of them are still figuring how they can increase revenues and bolster productivity but the Hispanic market hasn’t rung their bells, yet.

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Affluent LatinoDoes the Hispanic market play an important role in luxury brands? The answer is yes. Affluent Latinos grew over 200% over the last decade. Based on the latest Census, Hispanics with a household income of $100K+ represents over 12% of total U.S Hispanics households. It is also estimated there are only 8.5 million people in America with a household income of over $200K+.

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Latinos TechnologyBased on the latest Nielsen report, The Latino community is getting more and more integrated into the mainstream culture. Hispanic purchasing power is projected to increase 50% by 2015 ($1.5 trillion dollars) and 1 in 4 kids that are born in USA soil are of Hispanic decent. This huge increase not only will benefit the U.S. economy but also it will force many American companies to embrace this market trend or they will lose market share. The Hispanic market is changing from an opportunity to a necessity and is becoming a daily talk on national news.

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MiamiThe Group Advertising announced the opening of a new office in Miami. This strategic move from the agency opens a new horizon of the steady growth the agency had since 2006. Hernan Tagliani, president of the The Group Advertising says: “The agency is growing because of the results we have created to our clients. Their expectations is our first priority and it pays off big at the end of the day to run the operations ”

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Do you know that the Hispanic purchasing power will increase to $1.5 trillion dollars by 2015? Do you also know that the Hispanic market is expected to grow 167% from 2010 to 2050?

These incredible numbers have been revealed in the latest Nielsen report. Latinos are no longer just a sub-segment of the economy. They are a big player in all aspects of the American life. As we all know, there are a lot of misconceptions about Latinos and its culture. Some people tend to think that they are just Mexicans that speak Spanish and they can not afford their products or services due to their low level income.

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Based on the 2010 census report, the Hispanic population has grown from 35.5 million to 50.5 million in the last decade. One out of every six people and one in four children born every day in the United States is Hispanic.  It’s clear that the Hispanic market will have a major impact on the nation’s economic, social and political fronts. The following infographic has some valuable information for your business.

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Sometimes when I approach decision makers about the opportunity to reach out to Hispanics they tell me, “Well, I would like to but I am not there yet.” So I ask them, why do you feel that way?

Ninety-nine percent of the time the answer is: “I will have to convert everything into Spanish, produce new materials, and hire bilingual people in the company. So, instead of an opportunity I see it as a big hurdle right now. I would much rather keep doing the same because I feel safe and secure.”  So, I think, believing that you can’t change encourages you to accept your weaknesses.  But these weaknesses can turn into strengths if you are willing to learn.

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Mobile-Use-in-Hispanic-Latino-DemographicThe Hispanic population is growing at a fast pace and embracing technology even faster. The introduction of smartphones and 4G connectivity has enabled Hispanics to have access to a whole new world of opportunities with a simple push of a button or tap of a screen.  While Hispanics tend to have a lower percentage in overall Internet access than non-Hispanics (65% vs. 77% of white adults), they are among the most avid users of mobile broadband following African Americans (53% and 58% respectively).  Whites are estimated 33% according to a research project created by The Hispanic institute.

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Many times marketing directors, creative professionals, and other people that attend my seminars ask me the following question: Why does the Hispanic community tend to act slowly to my marketing efforts compared to the mainstream audience? I always tell them, before I answer your question, have you translated your campaign into Spanish? Unfortunately, 99% of the time the answer is YES. So I tell them, “You have answered your own question.”

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We’ve done it for every one of our clients. Now let’s generate some surprising results for you. Call us today at (407) 898-2409. We’ll help you profit from a very loyal—and rapidly growing—consumer market.

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