The United States is wonderfully diverse, but only some advertisers are paying attention. The Hispanic market in particular is seeing tremendous growth and an impressive ROI (return on investment). Why has the Hispanic market been overlooked, and what could it do for your business?
According to Univision’s Senior Vice President, marketers don’t understand the Hispanic market or the effectiveness of advertising in Spanish. Couple that with the fact that the Hispanic market is relatively untapped and that the population is expected to grow to 66.3 million by 2020, and it’s hard to understand why a business would ignore a vital consumer group.
Some brands like Nissan, Post Foods and Subway are smartly tapping the market. In the last year, Univision reports 96 brands joining the movement and advertising in Spanish. Subway, for example, saw a 40% jump in Hispanic traffic between 2009 and 2013 while their non-Hispanic traffic grew by only 7%.
5 Fast Facts:
- U.S. Hispanic media spending has nearly tripled since 2003. What was once $2.8 billion in spending jumped to $7.9 billion in 2012.
- Hispanic Internet display spending, which wasn’t even measured a decade ago, now sits at $431 million.
- The 2014 Super Bowl was broadcast in Spanish for the first time ever.
- Hispanics now account for approximately 1 out of every 6 Americans, and by 2050 could make up one-third of the U.S. population.
- If U.S. Hispanics were a country, they would rank as the 12th largest economy in the world between Mexico and Australia.
Want to know how to capture these astounding numbers for your business? Appleton Creative is an award-winning, full-service advertising agency located in Orlando, Florida. Appleton works with local, national and international clients to provide marketing strategies through print, web, social media and video production – all in-house. At Appleton, we want to learn about your business, empower your marketing team and be your creative resource. Your marketing goals are worth a conversation: contact us at 407-246-0092 or firstname.lastname@example.org.