Nuevo Hispania – The new general market

Written by admin on . Posted in Hispanic, Marketing

Nuevo Hispania

Nuevo Hispania

You may wonder what Nuevo Hispania means. According to the article Nuevo Hispania by Jon Garrido, it is a substantial segment of the United States population. Though it´s not its own country, Nuevo Hispania is the 27th largest nation on Earth, and fourth in the Western Hemisphere, possessing a $1 trillion USD buying power in the marketplace. Even during the economic recession, Nuevo Hispania continues to thrive, and according to the article, is surprisingly booming.

Garrido says that in this Nuevo Hispania, being known as “Hispanics” seems to be misleading, as Hispanic is not a race, but more like an umbrella collecting people of Salvadorean, Mexican, Guatemalan and any other Spanish or Latino cultural origin. Quoted in the article, Jeffrey M. Humphreys, director of the Selig Center for Economic Growth at the University of Georgia, claims that Hispanics are not united by culture or history, rather simply the Spanish language.

Many companies and industries have turned their focus toward Hispanics, as they have realized their huge buying power. Some examples are AARP, which began reaching Hispanics seven years ago; today the organization has 1.2 million Hispanic members. Another is Coke, or how we “Hispanics” call it, Coca Cola. Coke has been a focus in the Hispanic community since the 1980s—it has been a worldwide sponsor of soccer’s World Cup since 1978, and frequently features Latino players in its ads, therefore has pushed to have a strong presence in Latin America.

I can speak all day as to why industries should focus in the Hispanic market, but I believe that if any corporation wants to grow even more, it should spend those extra dollars on the Nuevo Hispania.

This post is also available in: Spanish

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