Page 10 - Latino Boom II

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l a t i n o b o o m I I
your business is in, there is no doubt that the future demand for your
product or service will be largely coming from Latino families.
Just as in the presidential election, we are seeing some companies
who understand the opportunity and others who have a long way to go.
Hispanics are leading the growth of the multicultural consumer sec-
tor, which also includes African Americans and Asians, of course. In
fact, according to the Latinum Network, by 2026 multicultural con-
sumers could represent 33 percent of total expenditures in the United
States, potentially adding $2.7 trillion to the American economy. Half
of that growth in spending, 15–16 percent, could come from Hispanics
alone.
1
Understanding how culture affects consumer behavior is important
not only to grow your businesses with multicultural markets inside the
United States, I believe it can help America be more competitive in the
global economy. So as leaders in Hispanic media, we try to help our cli-
ents and business partners with thought leadership about the Hispanic
consumer.
We believe that elevating the conversation about Hispanics in the
United States benefits us all, which is why the new edition of Latino
Boom, written by Chiqui Cartagena, one of the leading Hispanic mar-
keting experts in the US and Vice President of Corporate Marketing
at Univision, is a resource every CEO, business leader, and marketer
should read. This new edition is a follow-up to her first book and cre-
ates a compelling story from all the data that is out there about this
community. It also deciphers the biggest trends in the Hispanic com-
munity to help you better understand this constantly changing market-
place. Latino Boom II will give you the knowledge and tools you need
to start growing your business with Latinos and help you capitalize on
this once-in-a-lifetime opportunity which is being brought on by the
biggest demographic wave since the Baby Boom.
No t e s
1. “The Big Shift: How the Multicultural Segment Is Driving Consumer Spending,”
Dec. 13, 2012 Latinum Market Dynamics Model, Latinum Network © 2012