When close to 20% of your universe is the fastest growing segment, adopts new technologies faster than other groups and its not completely assimilate into the larger majority, you have to pay attention and determine how any initiative that you implement in this group or decide not to include in your overall plans, will affect your bottom line.
If you are like me, you will do some research and get the facts. Well, Nielsen has done that for us and here are the key findings.
The Executive Summary of the report shows that:
- Latinos are a fundamental component to business success, and not a passing niche on the sidelines
- Rapid Latino population growth will persist, even if immigration is completely halted
- Latinos have amassed significant buying power, despite perceptions to the contrary
- Hispanics are the largest immigrant group to exhibit significant culture sustainability and are not disappearing into the American melting pot
- Technology and media use do not mirror the general market but have distinct patterns due to language, culture, and ownership dynamics
- Latinos exhibit distinct product consumption patterns and are not buying in ways that are the same as the total market
Read more: http://bit.ly/K8UTaw