The Role of Hispanics in Advertising Is Becoming More and More Apparent
"...the Hispanic market is here and unless corporate America begins to actively cater to the market...they're going to miss profiting from the market."--Jose Nino, President of the U.S. Chamber of Commerce
With the numbers of Hispanics in the United States growing so rapidly, so is their buying power and their importance as a profitable advertising market. In fact, cultural heritage, the Spanish language and disposable income are the three things most U.S. Hispanics have in common. Hispanics prospered greatly in the 1980s. and there are now about one million Hispanic households in the United States with incomes of $50,000 or more.The positioning of the Hispanic market has already outgrown the niche of a special market within many regions of the United States. Because the Hispanic consumer market is now in a position of growing economic influence, advertisers are catching on to a new, culturally diverse general market. With the significant opportunity represented by this market, advertisers can no longer ignore the growing Hispanic consumer market and its incredible purchasing power, which just happens to be growing at three times the rate of inflation.
Spanish media expenditures have doubled since 1987, and Spanish language advertising revenues for 1998 were an estimated $952.8 million. Advertisers are catching on, but must remember that the messages need to be customized to relate to the Hispanic language and culture. The message needs to fit the cultural context and the mind-set of Hispanic audience, and mirror their important themes of family, religion and heritage. The buying power of Hispanics represents the reality that Hispanics are a force that it is here to stay.
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