ONE in six Americans is Hispanic. In politics, ignoring the Latino vote is suicidal, which is why the Republican Party is at last getting serious about immigration reform. In business, ignoring Latino tastes is equally daft, which is why American firms are at last getting serious about pursuing the Hispanic dollar.
Between 2000 and 2010 Latino buying power more than doubled (see chart), says the Selig Centre for Economic Growth. Mitt Romney’s drubbing by Hispanic voters last year was a wake-up call not only for his fellow Republicans but also for his fellow plutocrats. “CNN was saying the Republicans would become dinosaurs, and some CEOs said: ‘Wait, what about us?’,” recalls Roberto Orci of the Association of Hispanic Advertising Agencies.
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