The United States is rapidly growing in diversity, and the Hispanic population is the forerunner of this change. In fact, Hispanics are now the largest minority group in the United States.
The Hispanic population increased from 35.3 million in 2000 to approximately 52 million people in 2012. That is 16% of the entire U.S. population and according to the U.S. Census this number will only keep growing as Hispanics are expected to make up 30% of the entire U.S. population by 2050. For this reason, it is vital for businesses to market to Hispanics.
Not only is the Hispanic population growing in size, it’s increasing its purchasing power. It is estimated that by 2015, their buying power will equal $1.5 trillion. If you aren’t reaching the Hispanic market, your company is missing the opportunity to gain loyalty from an increasingly powerful sector of the economy.
Notice how the word “loyalty” was mentioned. We say this because Hispanics are just as brand loyal as the general market, regardless of the current economic state. Brands must win their loyalty, but once you have it, they’re yours forever.
At Schifino Lee we are helping companies like Lowry Park Zoo further diversify their brand by reaching out to the Hispanic market, helping to move them forward and achieve customer loyalty for a lifetime.
