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"Latino Population Growth, Food Spending and Acculturation"    Insights #3

•  Still growing.   The rate of growth by Latinos grew by four times the rate of the U.S. population and at three times the rate of African Americans according to the 2003 Census numbers.   At this rate (10% over three years since 2000), it makes you wonder when the term "general market" will become obsolete.   Something to think about moving forward.

•  Hispanics and African Americans continue to over index on home food spending compared to all consumers.   The Selig Center for Economic Growth reports that while the two outspend all consumers for food, they underspend on entertainment.   Currently nearly one-third of Hispanic households are comprised of five or more people.   The more people, the more food that is needed.   Marketers should take note that Hispanics are also big users of wholesale and club stores.   If you are a food supplier and you are not offering your products in places like Sams and Costco, it is likely costing you potential sales.

•  As research in the Hispanic segment continues to evolve, one of the biggest areas of interest (and confusion) is in acculturation models.   This is an area that continues to cause conflict and will continue to change because the Hispanic dynamic is continually evolving.   We have gone from assimilation, to acculturation, to an effect some are calling "retro-acculturation" to what we see next as "limited acculturation necessity."   No longer are cities like Los Angeles and Miami the only places where one can live comfortably day-to-day without ever speaking English.   Acculturation models now need to depend on cultural relevancy, lifestyle, attitudes and multivariate analytics.   No longer are language usage and Spanish-language media consumption the only gauges of acculturation.

•  Did you know minority-owned companies are growing at an average four times the national rate?   Take note if you are involved in B2B.

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