“Latinos don’t have money! Why advertise in Spanish? Focusing on that public is not worth it”.
Thinking like this prevents a company from increasing its income. The Latino community in the US is growing. According to the census 2020, the Hispanic population is 62, 1 million, that is, the largest minority group in the country. If we consider that their purchasing power is $1.7 trillion and is expected to reach up to $2.6 trillion in the next three years, if Nielsen indicates that Hispanics tend to develop great loyalty with brands, we understand that we should not take away from them the eye above.
It is also important to point out that, according to McKinsey & Company, many Hispanics would be willing to spend more on offers that meet their needs, since they do not have adequate access to food products and services, housing, health, internet, among others.
2020
More than a quarter of the multicultural population is of Hispanic origin and is less than 62 years old. So, it is the perfect opportunity to create commitment and retention, since they are just forming their purchasing habits and brand identification.
These are some key points that must be considered for a better connection with the public Latino, with great potential to increase sales: