October 30, 2014
Via PR Web
A new white paper, "The Trillion Dollar Opportunity - Marketing to Hispanic Americans" provides forward-thinking marketers the strategies needed to target the largest minority group in the U.S., the Hispanic community. Now available for free download from Kleber and Associates, the white paper outlines the size, scope, economic clout and multicultural characteristics of the estimated 52 million consumers identifying themselves as Hispanic or Latino. The reading audience can expect to gain a broader perspective on Hispanic consumerism, cultural beliefs, and business ownership, as well as key facts, trends and trusted insights on the Hispanic marketplace.
Subtle shifts and adjustments have taken place in our culture and economy as a result of the economic recession of the late 90’s, which had a dramatic effect on American home building, remodeling and sales. During the recovery, Hispanic and Latino-American consumers have proven “a potential economic force that the housing industry needs to reckon with,” according to the National Association of Hispanic Real Estate Professionals. The fastest-growing ethnic segment in the United States may also represent the consumer group with the most influence and buying potential for the home and building product industry, with buying power topping $1.5 trillion anticipated next year.
By addressing such topics as the amount of discretionary spend controlled by Hispanics, delineating the markets most heavily impacted by the Hispanic dollar, and the impact of language preference on advertising, the ‘Marketing to Hispanic Americans’ white paper provides strategic marketing and advertising insight into this vital constituency. The U.S. Census Bureau reports that Hispanic-owned businesses have doubled over the last decade, with both male and female owners at the helm. According to Hispanic Insider, a newsletter produced by Constru-Guíal día, “Hispanic female entrepreneurs are launching businesses at six times the national average and own 10% of all women-owned businesses.”
Changing economic realities, as well as key cultural and behavioral factors such as language preference, heavily impact strategies for marketing and advertising to Hispanic Americans. For example, crossover advertising with bilingual TV ads is achieving maximum impact and visibility during high profile mainstream programming, setting brands apart by maintaining cultural relevance outside of strictly Spanish language environments. It is this type of information today’s marketers need to know. Given the continued growth in population, wealth and status of this increasingly influential consumer group, now is the time for corporate America to study and engage this consumer, in order to profit from this trillion dollar opportunity.