Monday, June 7, 2010

Myths About Affluent Hispanic Households

Throughout history, great opportunities for growth have presented themselves during times when reality was contrary to popular belief. The Earth was flat until 1492, when Columbus sailed the ocean blue leaving behind old fears and misconceptions, discovering the Americas and laying the groundwork for global trade. Around the same time, Copernicus and Galileo were both in hot water for proposing that the Earth and the planets revolved around the sun and not the other way around.

Since then we've landed on the moon, have rovers scurrying around Martian soil, and send satellites up into orbit almost on a daily basis, and at a cost of up to $200 million a shot! And how many times do you think Da Vinci, upon presenting his drawings of flying machines, was told that "man was not meant to fly"? Had he lived until 1903, when the Wright brothers successfully took to the air, he probably would have imagined airlines flying more than 18 million flights with more than 1 billion travelers a year, and may have even conceived of the frequent flier program.

When it comes to Hispanics in the U.S., many companies today still believe that we are relatively poor and have little credit, and that the few of us that have acquired wealth are very acculturated. This is the barrier preventing all types of companies from capitalizing on one of the most exciting trends impacting the Hispanic segment, wealth creation. It's a reality contrary to popular belief.

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