Tuesday, August 31, 2010

Hispanic Spending Insights

Excellent insights from eMarketer's new report "CPG Marketers Target Hispanic Shoppers In-Store and Online"

Hispanics go online to socialize, research new products and find good deals -- more so than many other groups. In 2010, Hispanics will spend $125 billion on consumer packaged goods products, accounting for 11.8% of all CPG spending, according to Nielsen. These factors create a lucrative opportunity for CPG suppliers that want a closer connection with this dynamic demographic.

The internet is becoming ever more important in Hispanics' daily lives, via broadband and mobile. This year, 29.6 million Hispanics -- nearly 60% of the Hispanic population -- will go online at least once a month. By 2014, 39.2 million Hispanics will be online, representing 70%.

Read more here...Hispanics to Spend $125 Billion on Packaged Goods Products in 2010

Thursday, August 26, 2010

A Fresh Perspective | Observing Digital + Hispanic Marketing Trends

Observing social media trends

Participation and engagement are just a few of the vast array of words found in everyone's vocabulary these days. Anything related to statistical data, engagement and social media seems to capture the attention of both individuals and brands alike.

This popularity contest causes us to focus our attention on creating content, participating in various discussions, sharing our interests, and a multitude of similar online activities. Truly, we are all in a never ending race to capture attention.

However, there is a time and place for observation.

Taking the time to sit back, relax, and enjoy the view can help us to reinvent, revitalize, and rethink our methods of connecting and participating in online environments and can serve as a catalyst for pure ideation.

In aviation, there is a point at which we are able to safely navigate the sky above. The same holds true for those seeking valuable insights into social media and Hispanic marketing. When you reach a particular point things become quite clear and even insightful but climb too high and you fall victim to the clouds of confusion. Stay on the ground where all the action is at and there's little time to consider your next move.

Try stepping back for a moment to observe the digital showcase of social interaction amidst the various roads of the information highway.

Take the time to observe the various trends in social media, online engagement, and Hispanic marketing. Who knows...maybe you'll find that new spark of ingenuity.

Vista Hispano is the official Hispanic marketing blog of HUB 81, a young and new kind of agency blending strategic capabilities with a passion for all things digital + multicultural + creative.

Thursday, August 19, 2010

Hispanics: The Driving Force of the U.S. Economy

A recent article by David Hendricks of the San Antonio Express News discusses the ongoing growth and economic impact of Latinos.

Hispanics drive the U.S. economy.

Hispanic consumers and their increasing purchasing power are the growth engine for the U.S. economy, Javier Palomarez, president and CEO of the Washington-based U.S. Hispanic Chamber of Commerce, said Wednesday in San Antonio.

“This is a market that is growing faster than anyone anticipated,” Palomarez told nearly 100 people attending a luncheon of the American Marketing Association's San Antonio chapter.

Hispanics now make up 15 percent of the U.S. population, but their household incomes are rising five times faster than the general population, said Palomarez, a former San Antonio resident and a Rio Grande Valley native.

The U.S. Hispanic population also is growing three times faster than the general population, he added.

The purchasing power of Hispanic consumers now is expected to grow 38 percent between 2006 and 2012. Forty-seven percent of the purchasing power is concentrated in Texas and California, Palomarez said.

Although large cities in the Southwest, Florida, New York and Illinois may be strongholds for Hispanic consumers, new markets are springing up across the country.

The Hispanic population in Charlotte, N.C., for example, has grown 500 percent in each of the past 10 years, he said.

As numbers increase and the economic clout of Latinos grows there will continue to be a need for individuals and brands to use authentic engagement to capture the attention of Hispanics across the U.S.

Vista Hispano is the official Hispanic marketing blog of HUB 81, a young and new kind of agency blending strategic capabilities with a passion for all things digital + multicultural + creative.

Wednesday, August 11, 2010

Resonance: A key to connecting with Hispanics

The ability to speak to the interests of an audience is important for authentic engagement and capturing the attention of today's markets. Latinos comprise an important segment in which exists an exciting yet challenging opportunity to pinpoint cultural nuances, changing tastes, and unique preferences sure to help today's brands communicate in an effective manner.

A stroll through the local grocery store provides us with a window into the dynamics of true resonance and branding which exudes with cultural relevance. Recently, Crown Imports launched a limited edition pack of Grupo Modelo's Corona Extra beer brand in the the US in a join venture targeting football fans in the U.S.

The 18-pack of Corona Extra features specially-wrapped bottles commemorating the seven Mexican Soccer League (MSL) teams the Grupo Modelo brewery is aligned with in Mexico.

Teams represented in the packs include: Club de Fútbol América (Mexico City), Club Santos Laguna (Torreón, Coahuila), Club Deportivo Atlas (Guadalajara), Club de Fútbol Puebla (Puebla), Club de Fútbol San Luis (San Luis Potosí), Club de Fútbol Atlante (Cancún) and Deportivo Toluca Fútbol Club (Toluca).

The campaign is a smart move and serves as an excellent example of how today's brands can use relevance and resonance to capture the attention of an audience. The true effectiveness in this campaign lies not in the simple decoration of beer bottles but rather in the fine tuned effort to recognize and capitalize on the interests of today's multicultural markets.

Imagine the possibilities facing other types of organizations interested in reaching the Hispanic market. Resonance is an important element of engagement regardless of industry.