There's no question that marketers are increasingly turning their attention to Hispanic shoppers, and with good reason. The latest U.S. Census data show that the Hispanic population has topped 50 million in the U.S., bringing this fast-growing segment up to 15.8% of the total population. They have money to spend too: Hispanic spending power is estimated to reach $1.3 trillion by 2013. Yet, for all the attention brands and retailers are paying to them, there is still a lot of room for improvement in effectively merchandising to Hispanics.
Hispanics' striking preference for store brands is telling, but it's not the whole story. Though Hispanics are looking for low prices when they buy store brands, it also means that they haven't established brand loyalty to national brands. This means an opportunity for national brands to step up and gain Hispanic shoppers' attention by relating to them without being patronizing; and offering them value in terms they can appreciate. So, take the opportunity to partner with retailers in breakthrough ways, such as a dedicated shopping day with special in-store demos, to demonstrate the value of your products and build the foundation of brand loyalty with this coveted segment.
"Growing Store Brand Loyalty: Hispanic-Americans as a Target Market," The Shelby Report, 7/12/12 www.theshelbyreport.com/2011/07/12/growing-store-brand-loyalty-hispanic-americans-as-a-target-market/