According to an analysis of strategies of leading brands and forward-thinking marketers by Lisa Gevelber, Vice President of Americas Marketing, U.S. Hispanic demographic trends indicate a 163% increase in population between 2010 and 2050, making up 30% of the population by July 1, 2050, and one trillion dollars in buying power in 2010, rising to $1.5 trillion next year (an increase of 50% in just five years).
Marla Skiko, senior vice president and director of digital innovation at SMG Multicultural, says “… marketers may think they trail… general market in adoption of new tech… (though) they are far ahead… should be among the first prospects for marketers… to grow their consumer base…”
A survey of a panel of senior-level marketers, says the report, saw 11–25% of their company’s growth coming from this demographic in the next three to five years, but most brands didn’t have a marketing strategy for this audience.
The analysis found that, in looking at the strategies of leading brands and forward-thinking marketers, “U.S. Hispanics are ahead of the curve when it comes to digital. They lead in adoption of new devices. They are power users of mobile and over-index in video consumption.”
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