The 45-million-strong Hispanic consumer market in the U.S. drives $34 billion in CPG spending today — a number projected to grow to $52 billion by 2015. Given the extraordinary market potential, why have so few leading retailers and manufacturers cracked the code on how to capture this opportunity for their brands and stores?
As illustrated in this IRI report, the answer lies in the complexities of the market. While Hispanic consumers may share some common characteristics, this is by no means a homogenous group. It is comprised of numerous sub-segments, based on level of acculturation, country of origin and other factors. The report explores product and packaging development, marketing and merchandising plans, and showcases innovative manufacturer and retailer initiatives that are moving the needle within this critical market segment.