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HISPANIC MARKET OVERVIEW 2019 Powered by HispanicAd.com
U.S. Census official Pedro Guilarte was in attendance. He admitted that an undercount was seen in Census 2010 due to ineffective outreach to the Hispanic community. “We have challenges, and we hope you can help us,” Guilarte said.
Of course, the challenges aren’t limited to the Census. Soto shared information from the CMO Council that centered on the question of whether they had a strategy in place to attract sales from multicultural consumers? Half said no.
“Why aren’t companies getting serious,” Soto asked. “Marketers no longer look like the marketees. Those making corporate decisions tend to be older and tend to be a homogenous group of people.”
As such, they may not wholly realize that in just six months, half of Generation Z will be multicultural. Some 46% of Generation Y and Generation X – which includes the ever-in-demand Millennial – will be multicultural. “These are the sweet spots for many companies that sell the gamut of consumer items in the marketplace today,” Soto says. “There are implications, yet many aren’t paying attention to this marketing power.”
CHANGE OF PERSPECTIVE
Change can be a little scary. I’ve seen it. It can even cause fear.
These words from Soto had the crowd riveted. She knew firsthand what some marketing pros likely have swirling in their mind, including such questions as “What is that going to do to my bottom line?” or “What is that going to do with my next promotion?”
With Kraft Foods singled out as by Soto as an ethnic marketing leader, gaining tremendous respect among retail customers, she urged marketers and small business owners to “take that first step – and being committed.”
And, they should also take that conviction by organizing employees to fully take advantage of the economic benefit that can come through fully connecting with the U.S. Hispanic consumer.
HMO
LORIS TO LEAD TELEMUNDO ELECTION 2020 EFFORTS AFTER THREE DECADES AT RIVAL
As of July 2019, veteran news executive Patsy Loris will hold the role of Senior Vice President, Elections 2020 and Special Projects at Noticias Telemundo. She’ll be based in Miami and reports to Luis Fernandez, Executive Vice President of Network News at Telemundo.
Loris joins Noticias Telemundo after three decades at Univision Communications. Most recently, she was Executive Vice President of News and Executive News Director where she had direct oversight of the network’s morning show, daily entertainment and news magazine shows, and all network news programs including its digital, evening, late night, weekend and political affairs properties.