Nielsen, a global consumer-insights firm, recently released The State of the Hispanic Consumer: The Hispanic Market Imperative report, which indicates a projected Hispanic buying power of $1 trillion in 2010 that is expected to grow 50% to $1.5 trillion in 2015. Nielsen further notes that the population of Hispanics exceeds 52 million and represents the majority of population growth over the next five years.
Experts say retailers have the advantage in today’s marketplace. Here’s why.
In recent years, retailers have been confronted by behemoth impacts on the marketplace, namely the global economy and the steep rise of the Technology Age. Both have drastically shifted the customer-retailer relationship as consumers have subsequently led by virtue of their lower budgets and quick grasp of technological advantages, leaving retailers to follow them for the sake of their profits and edge over their competition.