excerpt from forbes: Most U.S.-based firms hav
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Posted On: 06/23/2014 3:59:24 PM
excerpt from forbes:
Most U.S.-based firms have a significant corporate imperative to attract Hispanic consumers, given their tremendous demographic and economic importance. Some companies, such as McDonald’s, Budweiser, and AT&T, are spending significant resources to gain market share with Hispanics and are making inroads. But it’s no simple task. According to a 2012 Nielsen report, “Hispanics are the fastest growing ethnic segment expected to grow 167 percent from 2010 to 2050, compared to 42 percent for the total population.” The report also found that Hispanics “will be the dominant and in many cases the only driver of domestic CPG sales growth.”
In fact, AdAge reported that Steve Mandala, Univision’s VP of advertising and sales had recently stated at a company presentation, that all of beverage marketers’ growth will come from the Hispanic market, likewise auto sales will grow twice as fast as sales to non-Hispanics. With this new business reality, the Hispanic market may well be one of the last significant growth opportunities left in the U.S., particularly in the consumer goods and service industries.
Most U.S.-based firms have a significant corporate imperative to attract Hispanic consumers, given their tremendous demographic and economic importance. Some companies, such as McDonald’s, Budweiser, and AT&T, are spending significant resources to gain market share with Hispanics and are making inroads. But it’s no simple task. According to a 2012 Nielsen report, “Hispanics are the fastest growing ethnic segment expected to grow 167 percent from 2010 to 2050, compared to 42 percent for the total population.” The report also found that Hispanics “will be the dominant and in many cases the only driver of domestic CPG sales growth.”
In fact, AdAge reported that Steve Mandala, Univision’s VP of advertising and sales had recently stated at a company presentation, that all of beverage marketers’ growth will come from the Hispanic market, likewise auto sales will grow twice as fast as sales to non-Hispanics. With this new business reality, the Hispanic market may well be one of the last significant growth opportunities left in the U.S., particularly in the consumer goods and service industries.
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