Did you know that the U.S. Hispanic Market is one of the fastest-growing markets in the country?
According to the Pew Research Center, in 2019, the number of Hispanics reached a record 60.6 million, making up 18% of the U.S. population. In at least twenty-one states, Hispanics account for more than 50% of statewide population increases from 2010 to 2019.
Despite this, only 6% of overall industry investment is spent toward the Hispanic community, per the Hispanic Marketing Council.
The numbers don’t lie: The U.S. Hispanic market is a highly overlooked one, and for your business to accommodate this newly emerging market, it’s important to understand what and how Hispanic consumers buy.
The Hispanic market is closely tied to economic growth. Hispanics contribute 25% of our GDP growth. On top of that, the top ten advertisers in the country spend up to 24% on the Hispanic Consumer Market. The community has enormous spending power, especially as the younger generation of consumers consists largely of Hispanic youth and will shape future trends.
It’s time for you to leverage your brand and grow your business with this key demographic group.
The Hispanic community is by no means homogenous. That’s why it’s important to have a team that understands the culture and nuances of this powerful demographic. Guildin understands the new Hispanic market, and we’re here to help you familiarize yourself with it too. With brand awareness, we help put together your idea and bring it to life.
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To learn more about us, or just have a question about what you should be focusing on next for your brand, give us a call and we’ll set up a complimentary 30-minute consultation.
Keep reading if you want to learn more about why you need to be reaching the Hispanic market in 2022 and key takeaways to share with your leadership team . Why Businesses Should Double Down on Hispanic Markets