Monday, November 2, 2009

The Hispanic Market Is Set to Soar

Hispanic Americans continue to grow in number at a rate four times that of the general population, with the 2010 Census expected to show their total rising to nearly 50 million, from 38 million in 2000. And second-generation Hispanics are fast becoming the driver of the group's growth, with 88 percent of Hispanic children born in America, versus 61 percent of adults.

As a result, agencies that market to this segment are finding themselves in a strong position, armed with the skills and techniques to take on general assignments from big-name clients. Meanwhile, in a tight business environment, general agencies are starting to compete for work previously reserved for specialist shops.

Is an already competitive agency landscape set to become even more so?

"In the 2010 Census, we'll see confirmation of a shift from Hispanic consumers who are first generation, where Spanish is the dominant language, to second-generation, bilingual, bicultural consumers. It totally transforms how we market," says Cynthia McFarlane, chair of Publicis Groupe's Conill, a Latino agency. "These are consumers who are as influenced by American culture as the country of origin of their families. There is a new American culture forming, and these consumers are having a tremendous impact on mainstream America."

McDonald's, which sees higher brand loyalty among its Hispanic consumers, has added offerings like breakfast burritos to its national menu. In further evidence of the growing bilingual voice of Hispanic consumers, McDonald's runs ads with Spanish taglines in general-market media, and earlier this year used "Spanglish" in general-market advertising for the Quarter Pounder.

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