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Hispanic Market Power

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Hispanic Market Power

America’s Business Growth Engine

Routledge,

15 min read
8 take-aways
Audio & text

What's inside?

Learn why the Hispanic market holds the key to growth, and how to reach it.

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Editorial Rating

7

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Recommendation

America’s Hispanic population is growing while the country’s non-Hispanic white population shrinks, creating an imperative for companies to learn to market to Hispanic consumers. Hispanic marketing expert Isaac Mizrahi makes the case for embracing the Hispanic market as more than a niche, and goes on to offer a comprehensive guide to connecting with Hispanic consumers. Mizrahi draws from extensive industry experience as a marketing executive and ad agency head, and the book includes ten case studies illustrating successful Hispanic marketing initiatives.

Summary

The Hispanic population is increasing in the United States — and so is its cultural influence.

The 2020 Census revealed that the United States is becoming increasingly multicultural — and more Hispanic. In the 2010s, the United States’ population grew by 7%,, and all of that growth occurred among minorities, primarily Hispanics, Blacks and Asian American Pacific Islanders. Marketers refer to these three segments as multicultural consumers, and together, they comprise about 37% of the American population.

Hispanics — people whose cultural roots lie in Latin America — now represent the largest minority segment: 62 million people, or nearly 1 of every 5 Americans. America is home to 17 million Hispanic millennials, 24 million non-Mexican Hispanics, 10 million Hispanic seniors and 12 million Hispanic households with an annual income over $100,ooo. Meanwhile, the white population of the United States is declining: Non-Hispanic white numbers fell by 2.6% from 2010 to 2020.

Multicultural consumers no longer concentrate only in certain geographic areas of the United States. Large Hispanic populations exist in California, Florida and Texas, but Hispanic numbers have risen...

About the Author

Isaac Mizrahi is CEO of the ad agency Alma. He is a former chairman of the board of the Hispanic Marketing Council and in 2006 was recognized as US Hispanic Marketer of the Year by Ad Week’s Marketing y Medios. He writes the Multicultural Marketing column for the online edition of Forbes.

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