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Report: Valley Hispanics spend big, even in tough economy


Last Update: 12/02/2008 7:32 pm
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With the struggling economy, many business leaders think that when it comes to marketing it's good to think Hispanic.
 
That's because the Hispanic market continues to grow, not only across the U.S., but right here in Arizona.
 
According to the Hispanic chamber of commerce, Hispanics have the ability to spend upwards of $1 trillion here in the U.S.
 
That's why they say businesses should market to entire families.
 
Harry Garewal with the Chamber said, "We are very brand loyal. Once we latch onto a particular brand chances are we're gonna stay with that brand."
 
Lupe Dalluge manages the Flower Shoppe in Tempe.  She realized quickly how important marketing to the Hispanic culture is.
 
"Quinceneras and bautizmos, you know you have to tap into that market because it's a huge market, and you know what, Latinos spend a lot of money," said Dalluge.
 
She says the secret to success is thinking 'bienvenidos' instead of 'welcome.'
 
"Speak their language and they'll come to you," Dalluge said.
 
So if you're getting ready to start a business or have one that already exists, you might want to consider the fact that by the year 2010, Hispanics will make up one-third of the U.S. buying market.
 
Garewal said, "If I'm a business owner and that's a market I haven't tapped I'm gonna go out and do some aggressive marketing to try and bring them in."


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