It’s a whole new ballgame so we’re back to square one – U.S. Hispanic Market 1.0 if you will. Recent 2010 U.S. Census findings reveal that the Hispanic market has grown twofold over the last 20 years! WOW! The numbers are staggering: 50 million+ that now represents over 16% of the total U.S. population.
The implications are far-reaching but more questions than answers come to light.
What is the Hispanic consumer now all about given the numbers?
What do they need and want?
What needs are unfulfilled and present opportunities?
Where do they live? They're not all in Los Angeles, Texas, New York and Illinois? Are they in urban areas or have they migrated to the burbs?
Will a first generation Hispanic consumer ever assimilate or even acculturate? What about second generation?
What language do I speak with them? First generation Hispanic consumers all speak Spanish right? They should be able to understand right? The idioms are seemingly endless – how do you explain, for example, that a bus for Cubans is “gua gua” but for some Mexicans it’s “camion?” If you’re speaking with the second generation, “Spanglish” may be more readily understood.
We could go on and even dedicate an entire website to questions about Hispanic consumers, but we encourage you to ask your own.