1. U.S. Hispanic spending power growth has significantly outpaced non-Hispanic with an average of $5 more per basket.
To allocate budgets properly, however, requires an honest look at and understanding of who your actual customer is today and who it will be in the future. Again, sounds obvious, right? Yet, many marketers don't know -- or perhaps don't want to know -- and often resort to going by who their customer was yesterday to make budget allocation decisions for today and for tomorrow.
In the past year, usage of social networking websites has exploded among all ethnic groups and we expect this trend to continue. While preferences of certain social networking sites might change over time, social media promises to remain relevant for all ethnic groups.
As the overall demographic landscape continues to evolve, and the "general market" continues to become less "general," Hispanic and multicultural marketers will find themselves in an advantageous position to lead the marketing conversation.