– HSM –
Hispanic Senses Marketing
A multi- and cross-cultural brand-equity marketing service helping companies to understand the multi-cultural and multi-race consumers based on their consumer perceptions, attitudes, behaviors, and cultural nuances. These will help develop actionable brand marketing executions enhancing brand consumer trust, loyalty, and endorsement to others.
The Multicultural Market Place
Hispanics
Based on the 2010 U.S. Census, the Hispanics are the largest and youngest minority group within the U.S. In fact, the Hispanic Market has grown to an astonishing figure of 50+ million people and their buying power is equivalent in size to the world's 15th largest economy. Never before in the country's history had a minority ethnic group made up such a large share of national youth. They make up about one-fifth of today's U.S. youth ages 16-25. In certain states, such as Texas, New Mexico, and California, the proportion may rise up to one-third or even one-half.
Ranking of the size of the U.S. Hispanic population worldwide, as of 2010, only Mexico (112+ million) had a larger population than the United States of America. The percentage of Hispanic-origin people who are Mexican descendant is 65-percent. The Selig Center for Economic Growth has estimated the Latino purchasing power to $1.2 Trillion in 2012
Today, there are more companies and more marketers paying attention. By now, most companies must have realized that Hispanics are buying stuff and frequently seeking to figure out how to persuade them to buy their brand instead of their competitor's brand.
The key thing to consider is not the sheer size of this group. Instead we must realize that the kinds of adults these young Latinos become will help shape the kind of society America becomes int he 21st century. For any person, this is the life phase in which the choices that are made set the pasty into one's adulthood. In the case of Latinos, they also need to navigate between two world and deal with significant cultural pressures, and make the best of it.
Blacks
Based on the 2010 U.S. Census, the Black population, including African-Americans, were 42+ million people, which it is about 14-percent of the U.S. population. According to the U.S. Census, 55-percent lived in the South, 18-percent in the Midwest, 17-percent in the Northeast, and 10-percent in the West. The ten states with the largest Black population are New York, Florida, Texas, Georgia, California, North Carolina, Illinois, Maryland, Virginia, and Ohio.
The Black population is an economic force to be reckoned with a projected buying power of $1.1 Trillion by 2015. Black consumers are responding to tighter economic conditions by focusing more of their spending on products and services that improve their homes and lifestyle.