Latinos now make up 19% of the country’s population, and half of them are under age 29. And while America’s Latinos spend an estimated $1.7 trillion annually, the Hispanic Marketing Council says only 6% of overall industry investment is spent targeting the Latino community. READ MORE AT WTTW NEWS
According to Nielsen, Hispanics will contribute more growth than any other population segment. It is estimated that for the next 40 years, Hispanics will be the primary contributors to the total U.S. population growth, comprising 53% of growth in just the next five years and 68% of the growth for 2060. Start adjusting your strategy today to assure a profitable and sustainable future, whatever it may look like.
Hispanics are highly passionate and social. They share what they love and don’t love with their friends, family, and community. The actual purchase is just one step in the process. READ MORE AT ENTREPRENEUR
Working on you is not an easy task, you first have to admit you need to improve and find those areas where improvement is needed. You will have to go into an uncomfortable zone where you will have to evaluate your mistakes and their root, if you dig deep you will find out the root is your mindset, that information you have programmed in your subconscious mind.
It is at this moment, where the hard work starts, you will have to unlearn so many things and replace them with new disciplines and believes, this is very uncomfortable and not easy. This is where most will quit, they will be afraid of change and the unknown, they will let the little voice in their head convince them of not being worth it, it will make them believe they can't do it, or the pain of doing it for a long time will not pay off.
Many will get discourage reading this message, but those who are determined to step up and BE all they can BE, will take it as an inspiration and reason to do it, to work on them and become a better version of themselves, which is what others are afraid of becoming.
But not you, you want change, you want to make a difference, you want to challenge the norm, you want to BE the person you have always known you can be, but didn't have the courage to become before. Take the first step, it will not be easy, but my friend I guarantee you it will be worth it.
BE what others are afraid to BE!!
Have a great day
The "Latin doll" stereotype is getting a makeover, and although stilettos might be part of the new outfit, the smartphone and laptop are essential items.
The digital Latina is taking social media by storm, over-indexing other demographic groups in the growth and use of social media, from twitter to social network sites. Around 2009, the blogosphere witnessed an explosion of Latina bloggers. Today, Blogs by Latina, a blog directory, has over 1,600 entries, since launching in 2009.
This proliferation of Latina blogs makes total sense. Historically, Latinas have been silenced by circumstances or lack of a socialcultural podium. Who she is and what she wants have been defined by caricature archetypes constructed by traditional mass media. She has no diversity on television and print, often existing as either a sexy, loud and passionate girl or an older, submissive, heavy-accented woman.
But the emergence of social media has offered fertile grounds to Latina women craving to self-express and redefine her image. It's become an effective platform to amplify her voice, thoughts, opinions and views. She's creating her own content and writing her own story. Through blogging and online publishing, she's producing a collective of digital voices that is honest, real, smart and empowering. The result? An illumination of the pluralistic identify of Latinas. READ MORE
In my experience working with Fortune 500 companies, I have found 10 reasons why management teams fail to capture a significant share of Hispanic consumers.
1. There is no company-wide alignment on making the Hispanic market a strategic initiative
Halfhearted efforts result in failure because they lack the rigor and discipline applied to every other aspect of the company’s business. For example, when entering an emerging market for the first time, a company conducts qualitative research to uncover customer insights that leads to innovative new products and services, followed by quantitative research to confirm, clarify and measure results.
This is routine practice when deploying a high impact go-to market strategy in an emerging market, yet many U.S. companies today cannot get their minds around an emerging market within their own borders.
2. Companies fail to allocate a minimum level of resources including budgets, people and time
Making this a “nice to have” budget item won’t work.
3. Companies fail to treat Hispanics as a true emerging market
Many Fortune 500 multinationals have invested wisely in pursuing business in Brazil, Russia, India, and China – markets with large populations, growing economies and consumers starving for western products and services. Yet they ignore the U.S. Hispanic market, which will soon become one of the 10 largest economies in the world.
According to the U.S. Census, Hispanic purchasing power will exceed $1.5 trillion by 2015 – only nine economies in the world are larger. If Hispanic-America were a nation, it would be a member of the G-20. In fact, Hispanic-America's purchasing power per capita (at $20, 400) exceeds that of each of the four BRIC countries – Russia ($15,900), Brazil (10,800), China ($7,600) and India ($3,500).
That is an emerging market worth pursuing. READ MORE
In 2010, when the last census report was issued, 47.8 million Hispanics lived in the United States.
Even more amazing is that the Census Bureau projects that by 2050, over 100 million Hispanics will reside in the United States.
Among the states with the largest reported Hispanic population are California, New York, Texas and Illinois.
Just like the Italian, Irish, Greek, German and immigrants from other countries in the early half of the last century, Hispanics have brought their cultures along with them, including foods that have been a part of their lifestyle for hundreds of years.
Many Hispanics were raised on root vegetables like yucca, malanga and boniato, and a fruit cornucopia that includes plantains, bananas and mangos.
“To Latinos and Asians, who are no strangers to tropicals, the larger displays in more mainstream supermarkets are welcome,” said Mary Ostlund, director of marketing for Brooks Tropicals in Homestead, FL. “These displays make Hispanic shoppers feel more welcome in the stores, and that is opening the way for more sales to this growing market.” READ MORE
Carat USA, the Aegis Group media shop, has completed a detailed new study of the Hispanic consumer segment and concluded that marketers are spending dollars against the sector in highly inefficient ways, due to continued reliance on old assumptions and outdated methods of communicating with the Latino population.
The new data has led Carat to conclude that 90% of Hispanic media budgets are targeting only 20% of the Latino population -- and are missing the opportunity to “drive significant business value among 80% of the Hispanic market.”
Among the major findings: a significant decrease in traditional word-of-mouth influence from friends and family. Just like the rest of the population, Hispanics have been empowered by the digital revolution and are highly engaged with digital and social content (such as online ratings, reviews, and blogs).
Digital information now influences the majority of Hispanic purchasing decisions, the agency research found. Previously, children had greater influence in purchases made by parents, and marketers have sought to tap into that persuasion factor. Today, however, 50% of U.S. Hispanic consumers say they no longer shop with their children, opening up a significant opportunity to market to individuals directly through social media channels, per the report.
Another key finding per the study: Impulse purchases and self-indulgence are rising as a mindset among U.S. Hispanics. Nearly 60% of the Latinos surveyed indicated they no longer wait for things to go on sale before purchasing them. And more than half of the respondents said they now make purchases to keep up with the latest fashions.
The green movement has not passed over Hispanic households; nearly 40% now make purchasing decisions based on whether they believe a product or service is environmentally friendly.
“Our research shows there is an immediate opportunity for marketers to maximize their media value and use their dollars more efficiently and effectively by embracing this tremendous cultural shift,” among Hispanics, the fastest growing population segment in the U.S., stated Doug Ray, president, Carat USA. “Advertisers can now tap into a more current set of passions and motivations, some of which are entirely different from those typically identified with Hispanic shoppers, even as recently as five years ago.” READ MORE
Tr3s: MTV, Musica y Mas, the bilingual/bicultural network for Latinos in the U.S., unveils a new comprehensive research study coined Death of the Hispanic Adult Demo as We Know It, as part of the brand's mission to continue providing insight on the rapidly growing Hispanic Millennial generation. Since 2007, Tr3s has been leading the market's knowledge bank on this segment, surveying nearly 10,000 Latinos 14-34 to date. The latest study reveals the implications of US-born Hispanics now dominating the 18-29 adult demographic, which are estimated to make up 65% of this demo by 2015, revolutionizing the Hispanic adult demo as we know it. Key findings were presented by Nancy Tellet, SVP of Research for Tr3s at the 2011 AHAA conference in Miami.
"This research helps us understand the massive changes taking place within the Hispanic adult segments, especially 18-34s, as US-born Hispanic Millennials begin to dominate the 18-29 segment," said Nancy Tellet, SVP of Research for Viacom International Media Networks. "We need to develop strategies that consider this demo, to better serve the Hispanic market and deliver results."
The Death of the Hispanic Adult Demo as We Know It study reflects a comprehensive, hybrid approach to the methodology that includes traditional, non-traditional and social media techniques. Resources include national online surveys, texting and Facebook interaction, as well as local focus groups and in-home studies in Los Angeles, New York and Houston.
Hispanic Millennials respect parental authority, unlike many of their non-Hispanic Millennial counterparts. And they anticipate doing the same with their children (although maybe a little less strict).
Hispanic Millennials are living at home even longer: Large majorities of 2nd generation Hispanic Millennials live at home. A combination of the recession, the "American" delayed marriage and kids life-cycle mentality, and already having a tendency as young Hispanics to live at home longer is a recipe for a long extended stay at home... which includes collaborative sharing among many of the responsibilities and purchasing dynamics of the household. READ MORE
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