There are about 54 million Hispanics in the United States — and growing, which makes this diverse group of people a key market for retailers.
In summarizing U.S. census data, AHAA reports:
“The Hispanic population of the United States is the nation’s largest ethnic or race minority. The projected Hispanic population of the United States on July 1, 2050 will be 132.8 million. According to this projection, Hispanics will constitute 30 percent of the nation’s population by that date. There are 8 states in the U.S. that already have a population of 1 million or more Hispanic residents: Arizona, California, Colorado, Florida, Illinois, New Jersey, New York and Texas.”
Furthermore, “The California Department of Finance reveals that whites and Latinos each represent about 39% of California population, with a projection that Latinos will become a majority early in 2014.”
As a result, more retailers are now placing greater emphasis on appealing to Hispanics. One such retailer is Macy’s.
Elizabeth A. Harris, reporting for the New York Times, notes that: “A few words used repeatedly start to sound like a chorus when Macy’s talks about unveiling its new line of clothing and accessories with Thalía Sodi, a Mexican pop star: Curves. Prints. Color. And the one perhaps used most, which signals this venture’s true value, is ‘Latina.’ ‘This is an amazing opportunity to deliver to the Latin consumer,’ Ms. Sodi said, who described the brand as ‘specifically focused’ on Hispanics. With the collection, the company joins media companies, political parties, and other major retailers like Kmart, all of which have been showering attention on the country’s fast-growing Hispanic population.”
Click the image to read more from Harris.
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