There is a link between population growth and consumption growth. Consumer Packaged Goods (CPG) marketers are the first ones to notice this trend since they do a fairly good job on tracking what products are moving and where are those sales taking place. They are ahead of the curve when compared to other industries. It’s no secret that one of the fastest growing population segments in the U.S. are Latinos. Companies like P&G know it and have committed a significant portion of their marketing dollars to this communities in 2012, to make up for the slight sales increases from the non-Latino segments. Read the article bellow from Packaged Facts to learn more.
NEW YORK, NY–(Marketwire – Nov 30, 2011) – Between 2000 and 2009, aggregate spending by Latino consumer units on personal care products and services grew from $5.3 billion to $7.5 billion, an increase of 41%, according to The Latino Health and Beauty Care Market, a just-released report from Packaged Facts. In contrast, spending by non-Latino consumer units on personal care products and services grew by only 15%.
Moreover, the Census Bureau projects that by 2015 Latinos will account for 20% of 18- to 49-year-olds, an age group that is critically important to marketers and advertisers. Growth dynamics in the personal care market, therefore, will increasingly be shaped by the health and beauty care (HBC) usage patterns and product choices of Latino men and Latinas. Read more http://bit.ly/tXu1kl