February 19, 2020         
The Author Incubator Launches New Program for Spanish Speaking Entrepreneurs   •   Fulton Mortgage Company Honored With First Annual Community Revitalization Award in Philadelphia   •   New ESA ‘Game Generation’ Campaign Shows Video Game Play Brings Benefits Beyond Fun   •   Contigo Reannounces Recall of 5.7 Million Kids Water Bottles Due to Choking Hazard; Additional Incidents with Replacement Lids P   •   7,000 Bacardi Employees Turn on Their ‘Out of Office’ to Visit Hundreds of Bars Across the Globe to Spark Conversati   •   To Honor World Cancer Day, The WISDOM Study Seeks Support from Women to Modernize Breast Screening Guidelines   •   VHS Learning Opens 2020 Summer School Registration   •   CER recommends approval for NGTL 2021 System Expansion Project   •   Unboxing is brought to life with HEXBUG JUNKBOTS at the New York Toy Fair   •   InventHelp Inventor Develops New Jewelry Item to Express Religious Beliefs (RSD-106)   •   Learning Ally is Giving Students a Chance to Meet Popular Children's Book Author, Dan Gutman ...Register Today for this Exciting   •   The CBA National Apprenticeship Program Gets Approved by Department of Labor   •   Hemp Depot Redefines U.S. CBD Farming Economics With 70% Reduction in Feminized Seed Pricing   •   iPhone 11 Pro doubles radiation exposure deemed safe for consumers, according to new test   •   To Honor World Cancer Day, The WISDOM Study Seeks Support from Women to Modernize Breast Screening Guidelines   •   The Financial Women's Association of New York (FWA) Continues its Commitment of the Back2Business™ Return to Work Program   •   Lovers, Sub a Sandwich for a Ring This Leap Day and Quiznos May Cater Your Wedding – Assuming They Say “Yes”!   •   U.S. Flunks Reproductive Health and Rights Report Card   •   National World War I Memorial Receives $5 Million Grant From Lilly Endowment   •   Comcast Celebrates the Year of the Rat With Continued Sponsorship of San Francisco’s Chinese New Year Festival & Parad
Bookmark and Share

US Businesses Reach Out To Hispanic Market

 WASHINGTON - – Hispanic Marketing Resources has reported a fifty percent increase in clients seeking to tap into the U.S Hispanic market since the economic downturn. Blaire Borthayre CEO, attributes to the fact that the Hispanic market is the only one still flourishing in the face of a recession.  The Selig Center for Economic Growth says Hispanic buying power is growing at a  50 percent faster rate than non-Hispanic and expected to hit 1 trillion this year. 

According to Borthayre, this anomaly can be explained by the attitudes and experiences of  Hispanic immigrants attitudes involving money. "Foreign-born Hispanics in the U.S have been historically unaffected by economic downturns due to their lack of dependence on credit." says Borthayre. Experian Consumer Research reports that 58% of Hispanics did not use a credit card in the last month and that approximately one-third opt for cash transactions, making them less likely to be affected by the credit crunch.  Borthayre explains that another factor is  Hispanic households often have multiple sources of income from family members, allowing them greater percentages of expendable income. 

"Hispanic immigrants are accustomed to weathering tough financial times and don't connect with the sense of panic that other Americans are experiencing.”
 Studies show that Immigrants with less than five years in the U.S don’t rely on English language media sources so are likely not influenced by reports of doom and gloom. by the reports of financial doom and gloom.  “Most Hispanic immigrants come from countries where poverty is a very real part of daily existence.  Even in a recession, the economic opportunities in the U.S are far better than those back home.”  Thus Hispanic immigrants seem better prepared to handle hardship and 

Subsequently Hispanic Marketing Resources has Borthayre says the increase can also be attributed to the new low cost options of online learning. "Travel and training budgets are usually the first on the chopping block when times are tough" says Borthayre "so companies are taking advantage of industry specific webinars to learn how to reach and serve Hispanics." 

Experts agree that the U.S Hispanic market is large, lucrative and loyal. It is also mostly untapped. These factors combined with the economic make this segment ripe for companies in need of acquiring new customers. 

Borthayre cautions however that companies who think they can simply put their marketing materials into Spanish to win their share of the Hispanic wallet will be disappointed. She explains "It requires a shift in thinking to understand the buying motivators and retention buttons for customers not raised in the U.S mainstream culture. This is why the market is still untapped, companies often jump in feet first without the proper training." 



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News