Unemployment among U.S. Latinos is higher than that in the overall population making up 12.2 percent in June compared to 9.5 percent for the total labor force. Even with this grim economic reality U.S. companies are spending more money marketing their products to the ever growing Hispanic population.
The buying power of Hispanics — now the nation’s largest minority group — will grow to 10 percent, or $1.4 trillion, of the U.S. total by 2013. The information from Selig Center for Economic Growth at the University of Georgia’s Terry College of Business places Hispanic buying power ahead of all other minority groups.
The Miami Heraldl article analysis the power of the Hispanic market and trends. An interesting point is the importance of companies to market their products to U.S. Latinos in a culturally appropriate mediums, including popular tv shows like “Sabado Gigante” and telenovela formats (an issues I have spoken about in the past – Telenovelas: Techonology and Politics Meets Hot Latinas.)