Hispanic Buying Power
Businesses often search for the next best investment opportunity. Unfortunately the lack of information, fear of the unknown or lack of resources limits their field of vision, hindering businesses from seeing what’s right in front of them.
Hispanic or Latino consumers are no longer under debate on whether it makes sense to target them or not. The question “is it worth it?” has suddenly morphed into “how much is it worth it?” and “how can I get in?”.
Poder magazine recently reported new marketing initiatives expanding to target households with annual income of over $150,000, whose number are expected to double in the next 4 years. This new generation of “global” consumers is characterized by tech savy individuals, highly mobile and educated, with median incomes on the $51,000 annual range.
Even though once dominated by familiar regions such as L.A., New York, or Miami, Hispanic presence is now a national phenomenon. The Datos 2008 report indicates that the Latino population grows at a rythm of 1 Million more individuals per year, with births, not immigration, accounting for most of that growth.
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