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Retailers: How Do We Tap Into Latino Market?

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There are 52 million Latinos in the United States. About 1.1 million Hispanics are born every year, 131 born every hour.
That much is known. Here’s what is not:
“Companies continue to try and figure out how Latinos can influence their brand,” said Mónica Gil, senior vice president of public affairs for Nielsen.
Companies, both private and public, continue to grapple with how to tap into the Latino market – and how to capture a slice of their growing purchasing power, which last year was estimated at $1.2 trillion. To try and find some answers, market research firm Nielsen and the Hispanic Federation closely studied the Latino market in the New York metropolitan area.
The report, months in the making, looked at Census, geographical and demographical data in New York, New Jersey, Connecticut and Pennsylvania, was released Monday.
The results were not surprising – Latinos continue to be on the lower rung of both the local and national economies.
But the study showed Latinos are making great gains in both educational attainment and income – a growing number are graduating college and earning over six figures.

For the full story:  latino.foxnews.com/latino/money/2013/10/21/retailers-grapple-with-how-to-tap-into-latino-market-unique-and-rarely/

Photo: Voxxi.com

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