SHIFTING STRATEGY IN 2015: A Closer Look At U.S. Hispanic Market Power [INSIGHT & WHITE PAPER]

Alma’s Isaac Mizrahi considers focusing on purchase-ready target to increase marketing efficiencies

As Q4 begins, marketing executives are likely to be combing through their budgets and strategies to increase growth for the upcoming year. As Managing Director of Alma, the Multicultural agency leading the growing field of U.S. Hispanic market research, Isaac Mizrahi presents “Shifting Strategy in 2015: A closer look at U.S. Hispanic market power”.

The article highlights an increased confidence in the economy and job market among U.S. Hispanics. Coupled with evidence that the same demographic plans to purchase homes and automobiles in the next year – more than all U.S. Non-Hispanics combined – Mizrahi suggests that US Hispanics might be the ideal target market for growth in 2015 as they are more willing to spend.

“In an economy that is just beginning to turn around, marketers are still looking for ways to maximize efficiencies and make every dollar count,” says Mizrahi, “but they may also need to look at current allocation models to see where the real purchase-ready consumers, like US Hispanics, are hiding in plain sight.”

The proof is in the numbers, which include:

• 34% of Hispanics are feeling confident about the economy, compared to 29% of non-Hispanics.
• 10% of Hispanics reported a job change for the better, while 8% of Non-Hispanics said the same.
• A whopping 9% of U.S. Hispanics plan to purchase a home in the next year, compared to only 5% of Non- Hispanics.
• 15% of Hispanics are looking to buy a car in 2015, but only 12% of Non-Hispanics are planning the same.

With more than $1.5 trillion in purchasing power while representing about 17% of the U.S. population with purchasing intent and an even larger share of consumption in some categories, the U.S. Hispanic Market target is often underestimated. By increasing the marketing budget to a demographic that is more ready to purchase, Mizrahi believes companies can maximize marketing efficiencies and make every dollar count.

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