Hispanic Market Attracts Growing Advertising and Marketing Focus

In the United States, ethnic populations are rapidly expanding, along with their spending. The buying power of Hispanic consumers has been rising at a rapid rate. In fact, the Bureau of the Census states that Hispanics accounted for more than one-half of all U.S. population growth between 2000 and 2010. While this growth has been slowing recently, due to decreased immigration, the number of Hispanic Americans is projected to be 106 million by 2050, or more than 25% of the total population.

The Association of Hispanic Advertising Agencies (AHAA, www.ahaa.org ) finds significant annual growth in total Hispanic print and television advertising in recent years. There are now a large number of advertising agencies specializing in ads that target Hispanic consumers, and revenues at radio and TV stations that target the Hispanic audience have been soaring. Brand loyalty among Hispanic consumers is now highly valued, and large sums are being spent on advertising and branding campaigns that target Hispanic market share

Food companies especially are targeting the Hispanic market. Pepsico, Kraft Heinz and General Mills are significantly increasing their ad spending for this market.

Nissan’s Southwest Dealers Commission in the U.S. researched Hispanic buying habits and found that personal experience is a key element. Having friends or family members who know salespeople makes a difference, as does an environment that is compatible with Latino culture. The dealers responded with culturally targeted advertising, sponsorship and promotions campaigns. The result was a 31% sales increase the first year. Four years later, sales to Hispanics achieved 35.9% market penetration.

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