ORLANDO, FL–(HISPANIC PR WIRE)–October 30, 2002–Isabel Valdés will show those who attend The National Hispana Leadership Institute (NHLI) 2002 Business and Leadership Training how to tap into the $630 million spending power of the Hispanic market in a training session scheduled at the NHLI’s event celebrating its 15th anniversary on Friday, November 1, at Walt Disney World in Orlando. Valdés will appear in the afternoon portion of the program and will also be signing her new book. Reporters are welcome to ask Valdés questions as soon as the session concludes at 3:45 p.m. Also, reporters are welcome to call Irma (listed above) for telephone interviews.
While the U.S. population is aging and overall growth remains flat in the grim economy, Latino households represent the largest opportunity for marketers who want to grow their business and are wise enough to know how to tap this growing market. In less than 40 years, the total Hispanic market has more than quadrupled in size, from 6.9 million in 1960 to over 40 million today.
Did you know?
–Between 2001 and 2010, the percentage of Hispanic children, ages 5 to 9, will increase by 21 percent while the number of non Hispanic children will decline.
–1 in 5 teens in the U.S. today is of Hispanic descent.
–Between 2005 and 2020, the Latino teen population is expected to grow 35.6 percent, while non-Hispanic whites in the same age group will decline 2.6 percent.
“From a marketing perspective, Generation ñ (Hispanic teens) are the new baby boomers and the future consumers of most companies’ products and services,” Valdés says. “Marketers who fail to engage this generation today may lose them in their adult spending years. In addition, Generation ñ has tremendous influence in their parents’ spending habits. Those companies who understand how to reach this group have an opportunity to also reach into the hearts and household spending power of Hispanic America.”
To reach this market effectively and sensitively requires a thorough understanding of the cultural differences among Hispanic groups within the U.S., according to Valdés. For example, “Mexicans are the largest sub-group and also have the highest share of people under the age of 18. Cubans are the oldest group and Puerto Ricans are most likely to live in a downtown metropolitan area. The age of your target group and its cultural background will dictate the communication methods a company needs to employ to reach a particular Hispanic sub-segment,” Valdés says. “The Hispanic market is complex and using one single approach to gather market intelligence is not likely to work.”
To address the NHLI, Valdés will draw from extensive information in her recently published book, Marketing to American Latinos: A Guide to the In-Culture Approach, Part II, where she examines a variety of products (shortenings, breakfast foods, beverages, sanitary products, and over-the-counter cold remedies) from ACNielsen’s Homescan Hispanic Panel data that shows how Latinos purchase differently from other Americans, and how their purchasing patterns change as they acculturate. The book also examines how retailers in different types of outlets (supermarkets, warehouse clubs, drugstores and bodegas) can respond to Hispanic consumers.
Valdés says, “Developing in-culture products and services speaks directly to Hispanics and confirms to them acceptance from companies that want to do business with them.” The author’s book includes case studies of such companies including AARP, Procter & Gamble, the U.S. Army, Kraft Food North America, Labatt USA, Mc Donald’s and many others. This book also includes an extensive list of Web sites with specific applications for targeting Hispanics.
To interview Isabel Valdés, please contact Irma Calderón Woodruff at 210-865-1359, or Valdés at 650-322-1922 or visit her Web site: http://www.isabelvaldes.com.
Irma Calderón Woodruff
(210) 865-1359 Cell
(210) 892-0712 Office