The Global Market Development Center (GMDC) has released a new whitepaper based on a GMDC*Connect Videocast, “The New Face of the Hispanic Consumer,” presented by Juan Carlos Davila, SVP, General Manager Hispanic Market at Nielsen, that explores the developing trends occurring within the U.S. Hispanic population which are in turn directly impacting them as consumers.
“The New Face of the Hispanic Consumer,” whitepaper and videocast serve to provide both retailers and manufacturers a deep look into the rapid growth of the U.S. Hispanic population and map out the evolution of their interests, lifestyle, and shopping patterns.
“The Hispanic market conversation has focused on their tremendous growth and diversity around their different races or countries of origin. But today, we want to talk about important changes that are happening with this population,” stated Davila.
The primary source of Hispanic population growth has swung from immigration to native births. Sixty-four percent of Hispanics in the U.S. are U.S. born, showing tremendous progression within the population.
“Latino population today is better educated, scaling upward in income, predominantly young and the most important, embracing two languages and therefore, two cultures. They are also growing rapidly in non-traditional markets,” Davila added.
Suppliers, retailers and CPG marketers interested in winning over the rising U.S. Hispanic consumer population that currently represents $1.3 trillion in total spending power are highly encouraged to read this whitepaper.
Anna Mancini, VP of Merchandising at Value Merchandisers Company, shares how this educational resource will advance her company’s business with the Hispanic consumer.
“‘The New Face of the Hispanic Consumer’ videocast and whitepaper will empower us at Valu Merchandisers Company to not only improve but also expand upon our Hispanic marketing strategy by providing us with valuable insights and detailed profiles of this rising consumer,” said Mancini. “Our improved understanding of the Hispanic consumer has enabled us to maximize on our targeting efforts as a result.”
A preview to the study can be found at gmdc.org/index.asp?w=pages&r=46&pid=425