Would 1 trillion on purchasing power convince you? Well, according to this article from The Motley Fool, a Fortune 100 company is convinced. The fact that growth on other market segments is flat may have something to do too. Their approach is not just a translation of advertising materials. P&G knows marketing and they are creating products that address the specific needs of these consumers.
To counter its slow U.S. revenue growth,Procter & Gamble (NYSE: PG ) plans to capitalize on the growing Hispanic population. According to The Wall Street Journal, the company is looking to focus more on Hispanic shoppers by modifying its products and bringing new brand ambassadors onboard. Let’s dive into the details.
The Latino way
According to the U.S. Census Bureau, more than half of the U.S. population gain in the decade ending in 2010 consists of the Latino demographic. Their families tend to be larger and younger than average, and that’s good news for the maker of Pampers, Charmin, and Bounty. According to Hispanic Business magazine, Hispanic shoppers had nearly $1 trillion in spending power as of 2010, and that figure is expected to rise to $1.3 trillion by 2015. Read more http://bit.ly/q0K19c