Meet America’s New Brand Manager
Latinos’ consumer buying power is gaining
top brand support
Hispanic consumers are poised to become America’s most influential brand managers, according to industry experts.
“The impressive and sustaining growth of the U.S. Hispanic population, and its estimated $1 trillion in purchasing power, has taken Latinos from being a niche market — pursued by select category leaders interested in realizing incremental sales volume — to a highly-coveted consumer segment whose loyalty is necessary for survival in the 21st Century,” states Daisy Expósito-Ulla, Chairman and CEO of d expósito & Partners, a Hispanic market industry icon and innovator.
“Not only has it provoked more marketers to pursue our markets,” notes Expósito-Ulla, “it requires a more sophisticated, comprehensive approach when going to market.”
Explosive Disposable Income Growth
The Hispanic market, one of the fastest growing population
segments within the U.S., is gaining the attention of America’s C-level officers. The reason is clear.
Hispanic disposable income is up 29% since 2001, over two times the growth among the general U.S. consumer, according to ACNielsen Consumer Segmentation & Targeting Director Kylee Hall.
“Economists are predicting that the Hispanic population boom of the first 20 years of the 2000s will have the same magnitude of impact to the U.S. consumer marketplace as the Baby Boom of the 1950s and ‘60s,” says Hall.[1]
CPGs on Board
Such growth has not escaped the notice of newly appointed General Mills CEO Kendall Powell, who made a bold statement to company employees and shareholders in his mandate announcing the company’s commitment to increase marketing to Hispanic consumers.[2]