I love reading articles like the one that came out from UPI a few days ago. Basically, they brought to light a report that Nielsen released last Friday showing a spike in spending by Latinos in all beauty segments.
As you can see with the graphic above, beauty product sales to Latinos were up 7.4% while general market sales fell 1.2% among non-Hispanics. With each beauty segment, the pattern remains the same: Hispanic percentages increase while Non-Hispanic percentages decrease.
Couple this with what CNBC reported last week that “Hispanics’ spending power in 2013 was 1.2 trillion; by 2018, that figure is expected to rise to 1.6 trillion.” It’s no wonder why companies like Unilever are increasing spending to market directly to the U.S. Hispanic consumer.
So, brands (especially those in beauty): wake up and recognize that the U.S. Hispanic market is ripe. It’s time!
This post is also available in: Spanish
Trackback from your site.