If you are trying to reach new target markets, be sure to consider the growing Hispanic population in the United States. Is the Hispanic population really growing as fast as the media claims? Yes. There are approximately 53 million Hispanics in the U.S. today.
Hispanics are actively purchasing products and utilizing services and are a critical component to our economy. As you know, the Hispanic consumer is rich in culture, in the foods they eat, in music, etc. They are also very family oriented, integrated within the U.S., and are growing in numbers exponentially. Interestingly enough, the Hispanic consumer is now younger than the non-Hispanic general consumer. The average age of a Hispanic consumer is 26 and the average age of a general consumer is 41.
Many brands have recognized that they will only grow if they focus on the Hispanic market. Lots of bigger markets, like Los Angeles, Chicago, Dallas, and Miami know that: if you don’t garner the loyalty of the Hispanic market, you’re not going to grow. Furthermore, growth in the years to come will come from multicultural consumers. More than ever, it is important to know how to market to, connect with, and reach the growing Hispanic market.