US Hispanization: Long/short Strategies
Miami, FL (Vocus) December 10, 2007
More than 200 industry leaders attended The 4th annual Multicultural Marketing Summit from October 24-26, 2007 at the Mandarin Oriental Hotel, Miami-Florida. Executives and marketers learned about the importance of the growing business opportunities in multicultural markets and the best practices of how to capitalize on these opportunities.
A highlight of the event was when David Kostin, Managing Director U.S. Portfolio Strategy for Goldman Sachs, shared his perspectives on the growth potential and investment opportunities presented by the US Hispanic market. During his compelling session titled, U.S. Hispanization: The Quest for Growth, Mr. Kostin identified growth trends for geo-demographics and consumer expenditures that underlie his investment thesis. His report details investment opportunities in the housing, retail, health care and financial services industries that are well positioned to take advantage of the growing Hispanic market. His findings can be found in the report, “US Hispanization: Long/short Strategies” at http://www2.goldmansachs.com/insight/research/reports/report44.html. The following is an excerpt emphasizing the importance of the Hispanic market for companies seeking growth:
“US businesses across all industries have begun to focus on the rapidly growing Hispanic/Latino market through targeted advertising spending and customized products. We believe this trend will continue. Firms taking the lead in these initiatives and in areas likely to benefit from the population growth of Hispanic/Latinos in the United States are likely to see their revenues grow faster than those of their competitors over the long term.”
Ceril Shagrin, Senior Vice President, Univision presented a new study about Latinos and media usage revealing compelling characteristics of advertising on Spanish TV. Among a number of interesting findings, the study shows that Latinos are more likely than non-Latinos to view commercials and make purchase decisions based on advertisements seen on television. In addition, Hispanic DVR users are less likely to skip commercials and are more likely to stop and watch commercials of interest than non Hispanic DVR users.
Industry leaders from Blue Cross and Blue Shield of Florida, Farmers Insurance, General Mills, and Toyota Financial Services presented case studies showcasing their success and growing market share within the multicultural markets.
Fernando Chavez, son of late activist Cesar Chavez, shared unique insights on Latino growth within the United States of today during his presentation to summit participants.
Cesar Melgoza, Co-Founder of Latin Force Group, released the 2008 version of the American Marketscape DataStream, the most comprehensive and up to date source of consumer geo-demographic data. The report forecasts current year estimates for 2008 and five year future projections for 2013 of the US multicultural landscape. The data is presented from the micro to the macro level built from the ground-up and is an in-depth representation of U.S. cultural diversity.
While participates engaged in case studies and workshops throughout the day, at night they were able to enjoy live entertainment from such artists as Def Jam recording artist Chrisette Michele, Locos por Juana, and El Chino.
Latin Force Group LLC provides consumer intelligence via strategic business consulting, database-driven analytics and automated systems to help our clients achieve significant growth by tapping into America's fast growing Hispanic and multicultural markets. Latin Force stands at the forefront of understanding the significant growth opportunities that America's fast growing new mainstream consumers represent for corporations today. We are poised to provide clients a competitive advantage by helping them capitalize on this exciting growth potential.
2100 West Flagler Street, Miami, FL 33135
News @ latinforce.net
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