Tuesday, May 24, 2011

A Case for the Business-Critical Importance of the Hispanic Market

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Global communications leader Porter Novelli today released the latest issue of its popular Amplify report, “Census: It’s All in the Numbers,” which explores the dramatically increased buying power and influence of the Hispanic market in the U.S., as made clear by the recently released U.S. Census figures.

Examining information such as birth rates and population growth areas, as well as increasing Hispanic proficiency in digital and social media and mobile usage, the report makes a strong case for the business-critical importance of the Hispanic market for sustained growth and brand health. The issue studies the Hispanic impact on food and beverage marketing and health care providers—analyzing how Hispanics balance acculturation while maintaining strong traditions and community ties.

“Clearly, brands and businesses can no longer afford to ignore the Hispanic market,” said Julie Winskie, global president, clients. “It is a $1 trillion market that is growing not just in numbers, but in the all-important use of digital media. Despite the transformative impact that kind of buying power and digital sophistication could have on businesses, nearly 50 percent of U.S. brands still don’t include Hispanics in their marketing mix. That’s more than just a missed opportunity – ignoring this market could have serious consequences for the bottom line.”