The U.S. Hispanic purchasing power, which is growing at nearly three times the national rate, is estimated to be close to $1.5 trillion, according to Nielsen. That's a $500 billion increase since 2010.
There are many other key statistics that demonstrate why "[t]he future U.S. economy will depend on Hispanics," as reported by Nielsen. For example, a 2013 report by the National Association of Hispanic Real Estate Professionals stated that "[t]oday, one in every four children in the U.S. is Hispanic." The report also found that "[s]ince 2000, Hispanic job gains have accounted for 66 percent of the total U.S. job growth," and that the U.S. Hispanic population "is expected to grow 167 percent from 2010 to 2050, compared to a 42 percent growth rate projected for the total U.S. population during the same time frame."
And of course, when it comes to the Latino market and community, one of the most important things to understand is that it is not monolithic. As reported in an article published by Adweek, most Hispanic Americans (60 percent) are second generation. When it comes to advertisement and/or news content, only 27 percent of them seek out content that speaks to their ethnicity, while race/ethnicity for 72 percent of first generation Hispanics has a greater influence on the content they consume.
During the last 20-plus years I've been involved in Hispanic market development in many different settings. As a consultant, I've worked with large companies, small businesses, entrepreneurs, quasi-government agencies, chambers of commerce, and non-profits. I also had the opportunity to work on multiple multi-million dolllar (large and complex) projects in several countries in Latin America, including Argentina, Colombia, México, Perú, Brazil, Dominican Republic, Venezuela, Ecuador, and my native Puerto Rico.
Luis and I worked together on a project to represent US companies in Argentina. He's a real expert on doing business in Latin America and took the lead on assembling a great team to carry the project forward. One of his special skills is being able to act as the bridge between Latin American and US business cultures. I recommend Luis for those searching for a marketing expert on Latin America.
Co-Founder at Community Vitalization Council
When it comes to market development, advertising, marketing, I'm fully aware of the importance of competence, of research, of demographics (ethnicity, income, education). Those are basic considerations when it comes to the art of selling, and should always be taken seriously. But after all these years of doing business with the Hispanic community here in the U.S., and in Latin America, one thing I've learned which I consider the most important consideration is this: RESPECT.
Whether I'm dealing with a top corporate executive of a telecommunications company in Argentina, or México, or whether I'm delivering a "starting your own business" seminar (in Spanish) to a newly-arrived group of immigrants from Latin America, the one universal thing I've seen is that everybody wants (and expects) to be treated with respect.
That means understanding that each country in Latin America is unique, with their unique cultures, and heritage. It means avoiding making sweeping cultural generalizations, and using stereotypes.
Some years back I was traveling 100,000-plus miles a year all over Latin America. The more I traveled, the more I came to appreciate the uniqueness of each country... That each has their own history, their own famous writers, and political figures, and industries, and culture, and music, and art, and their own struggles.
Luis was a real pleasure to work with at Corsair (later Lightbridge). One of the things I admired the most about his work was his dedication to always giving his absolute best to any project – no matter how large or small. His care for each individual coupled with his depth of understanding of both the U.S. and Latin American markets make him both an outstanding professional and a delightful person to know.
Wireless Industry Professional
I learned that when my projects were successful, it wasn't just because I knew all the intricacies of the products and/or services I was selling; it was because people felt I treated them with respect, and that allowed me to establish the type of relationships needed to get the job done--on time, within specifications, and within budget.
When it comes to my Hispanic market development services, that is the type of approach I take. For each income level; for each demographic, I seek to connect people with the right opportunities for them at whatever stage of their journey (to a better life) that may be in.
If you believe you have a product of service that will help members of the fast-growing (and diverse) Hispanic community improve their lives, achieve their dreams, goals, and objectives, or improve their businesses, enhance their educational opportunities, or just enjoy leisure time, food, entertainment, etc., I'd be glad to help you design the right advertising and marketing campaign. You can start by contacting me via email, of by phone at 510.586.3215.