The Hispanic Market Keeps on Growing

The population of Latinos living here in the United States is expected to have grown after the 2010 Census is taken and it seems the expected growth will come from second-generation Latinos. Now is the best time to tap into the Hispanic market, what are you waiting for ? Right now, their purchasing power is regarded as one of the highest with an annual income estimated at about $863 billion and in this recession, you can expand your market to a more successful and very profitable campaign goal.

Already, Spanish language media cable companies like Telemundo and Univision have controlled the US market and bilingual channels like Mun2 tapped into the younger generation with a mix of Spanish-English music and pop culture.

“We’re seeing a tipping point in Spanish-language media,” says David Lawenda, Univision’s president. “In our recently completed upfront, we saw shares shifting from the general market as we brought in new brands. The implications of the 2010 Census are huge. Marketers don’t necessarily know the spending power of the U.S. Hispanic population. Their purchasing power makes them equivalent to the 15th-largest consumer marketplace in the world.” (via Adweek, Noreen O’Leary)

Of course, you can’t just jump into building campaigns to win their loyalty. Intense research and study must be done before any media and marketing campaign is to take place, which may cost in the millions. Spanish is still the main language spoken in the household but English is spoken as well, particularly by the second-generation Latinos who have grown within the American culture.

If you feel that you and your marketing team are not ready to tap into the Hispanic market, I highly suggest that you get with an advertising or marketing agency that specializes in Hispanic target marketing to get the work done for you. Below are some great sources of Hispanic marketing agencies here in the United States that you can look up.

Association of Hispanic Advertising Agencies

National Society for Hispanic Professionals

PR Newswire

SalesVantage

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written by

I 'mFrankie De Sotoand I was born on the beautiful island of Puerto Rico. I graduated at the top of my class from the University of North Texas with a BA in Art and 2 minors in Marketing and Radio, Television, and Film. I have been doing graphic design for the past couple of years creating graphics for advertising, signs, brochures , and flyers but I decided to return to school to expand my knowledge into more new media applications such as web design, human /computer interaction, Flash animation and marketing communications. I graduated with an MFA in Arts & Technology at the University of Texas at Dallas. My current studies are focusing on social media and marketing communications which in part encouraged me to begin this blog as well as my love for Hispanic culture and online media practices.
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4 Responses to "The Hispanic Market Keeps on Growing"

  1. Louis Pagan says:

    Very true, indeed my friend.

  2. Frankie De Soto says:

    Thanks Louis,

    Now’s a good time for business to service this target market, it’s still virtually untapped. We have access to technology, our purchasing power is strong, and the population is growing.

  3. Claudia Del Cid says:

    Very ineresting and helpful information. I can’t wait to share it with my team! Great job Frank!

  4. Frankie De Soto says:

    Thanks, I see great opportunities in this market in the coming years and with social media added to it, it will be definite shift.

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