Ready to Spend

Browne, Michael
January 2006
Convenience Store News;1/16/2006, Vol. 42 Issue 1, p67
Trade Publication
This article reports that retailers need to ramp up their efforts to attract the customer segment of Hispanic Americans. At 13.7 percent of the total U.S. population, Hispanics currently comprise the nation's largest minority. Further, the purchasing power of this group has jumped by about 50 percent in less than five years, growing at a much faster rate than other ethnic populations. According to Jim Perkins, president and founder of ULATAM Solutions Group, a consulting firm focused on retailer relationships with the Hispanic consumer, retailers must learn to drive the necessary changes and innovations mandated by these consumers, while understanding and marketing to their culture. Retailers should focus on indicators that offer insight and understanding into the culture and the consumer spending habits of the Latin American consumer. The retailers must show a willingness to take risks, respond and build an infrastructure to attract this consumer. INSET: Retailers Lag Behind in Hispanic Hiring.


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