For an industry that has treated minority marketing as a box to check off, the numbers amount to a clarion call: To remain relevant into the next decade, brands must appeal to Hispanics. This is a direct challenge to marketing strategists, who must coordinate campaigns at the local, regional and national levels while using traditional and digital channels in two languages.
While overall sales to ethnic groups across the board have risen strongly since the 2008 financial downturn, US Hispanics have led the way. According to Polk sales figures, the overall market for new-vehicle sales in the US grew 9% between H1 2012 and H1 2013, while Hispanic sales grew 16% during the same period. All told, Hispanics spent $32.7 billion on new vehicles and leases in 2012. Read the rest at eMarketer.