Here are a few eye-opening, midweek tidbits:
- The Hispanic population boomed 61% between 1990 and 2003 – exploding from 21.9 million to 35.3 million – making it the fastest-growing group in America, according to the U.S. Census Bureau.
- It is projected that the Hispanic population will triple in size by 2050, reaching 24% of the total U.S. population, according to Strategy Research Corporation.
- The Santiago Solutions Group reports that Hispanic purchasing power is expected to hit the $675 billion mark in 2003, $928 billion by 2007 and $1.2 trillion by 2010.
These statistics from the Association of Hispanic Advertising Agencies offer proof of the sea change taking place in U.S. demographics and purchasing power. If you haven't been aware of or paying attention to this marketing behemoth, you'd be wise to smarten up... and quick.
One way to learn more is through the new blog Hispanic Trending, written by my Wizard of Ads colleague Juan Guillermo Tornoe. Juan Guillermo is a walking, talking marketing brain - brilliant, kind, and a visionary. Born and raised in Guatemala, he holds an MBA in marketing, held several important posts with Prensa Libre, and is now developing the Hispanic branch of Wizard of Ads, Inc., El Mago de la Publicidad. In his spare time, he researches and buys millions of dollars worth of media for the clients of Roy H. Williams Marketing
Juan Guillermo is passionate about business and sharing - in his words:
"Following my passion for the Hispanic market, I began Hispanic Trending - A Latino Marketing and Advertising Blog, as a way to give access to the research, news, and commentaries related to all things Hispanic to those who share the same interests as I do, hoping they actively participate with comments and suggestions, enriching the experience for everyone."
If you're at all committed to growing your business and expanding your knowledge of marketing trends, make sure to check out Hispanic Trending... and bookmark it!