Tuesday, March 23, 2010

Half of U.S. Advertisers Missing Trillion Dollar Hispanic Market

According to a new Hispanic marketing trends survey, commissioned by the Hispanic advertising agency Orcí, the 2010 U.S. Census is expected to find that Hispanics number more than 50 million in the United States, and command $1 trillion in buying power. Yet half of U.S. advertisers, says the report, who acknowledge the cultural impact of Latinos, do not include Hispanics in their marketing efforts.

Latinos comprise more than 15% of the U.S. population, and are predicted to rise to 50 million in the 2010 Census, an increase of 42% since the last Census in 2000. In the 2000 report, the Hispanic growth rate of 24.3% was more than three times the growth rate of the total U.S. population, which was 6.1%.


Yet the research showed that 82% of respondents have no plans to begin or increase existing efforts aimed at American Hispanics in the next 12 months. This despite the fact that the great majority of respondents agreed that Latinos will impact U.S. companies' product and service offerings in the next five years, particularly in food tastes, fashion and technology.


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