 Hispanic Strategy an "Imperative" for Businesses - Part I
A new report by Nielsen about Hispanic consumers in the U.S. may serve as a wake-up call to many businesses about the need to understand and prioritize a strategy to reach the young, connected and growing Hispanic market.
In "State of the Hispanic Consumer: The Hispanic Market Imperative" Nielsen points to the precipitous growth of Hispanic buying power - expected to reach one and a half trillion by 2015, up 50 percent from one trillion in 2010.The report states that despite the recession, U.S. Hispanic households that earn $50,000 or more are growing at a faster rate than total households. By 2016, Hispanics will account for 60 percent of U.S. growth. This trend will continue even if immigration is halted.
Study Highlights:
- By 2016, Hispanics will account for 60 percent of U.S. growth.
- The median age of the Hispanic population is 28 years old (almost ten years younger than the total market median age).
- Financial services is one of seven economic sectors expected to benefit most from Hispanic demographic change.
- Hispanic culture in the U.S. is enduring and sustainable.
- Hispanics show unique media and technology consumption trends, as well as buying habits that do not reflect the total market
Stay tuned for Part II of this article where we'll discuss the implications of this important data to your credit union, as you look for growth in better serving the Hispanic market. |
Hispanic Outreach Learning Opportunities
There's much to learn when it comes to reaching and serving a new market, from understanding a new culture to understanding what products and services are relevant for that market.  How are you training your staff, management teams and board members on the nuances of reaching and serving the Hispanic market? |
Look for Coopera at these Upcoming Events |
2012 Free Webinar Schedule All webinars take place at 1:30 p.m. CST. - 6/27: Are Hispanics Accessing Financial Information Online? Register today!
- 7/18: How to Deliver Financial Education to Hispanics, Register today! (Receive a ten percent discount on El Poder Es Tuyo for attending this webinar.)
- 8/22: How Do You Know How Well You're Doing in Serving the Hispanic Community? Register today!
- 9/19: What Language Do I Market to Hispanics In? Register today!
- 10/17: Creating a Strategic Plan to Serve the Hispanic Community, Register today!
- 11/14: What It Takes to Successfully Serve the Hispanic Community, Register today!
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Archived Webinars |
El Poder es Tuyo Updates
 Coming soon on El Poder es Tuyo: - 6/7 The Down Payment for your Home
- 6/14 Keep Your Kids Safe when Using the Internet
- 6/21 The Importance of a College Education
- 6/28 How to Save on the 4th of July
- 7/5 Refinance your Mortgage to Reduce your Expenses
Congratulations to this month's new El Poder subscribers:
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About Us
Coopera partners with credit unions of all sizes throughout the country, as well as with national and international credit union systems, to help credit unions grow by reaching and serving the Hispanic community.
Coopera is owned by Affiliates Management Company, holding company of the Iowa Credit Union League, and is a strategic alliance partner of the Credit Union National Association. For more information visit CooperaConsulting.com. |
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IN THE NEWS
The Cultural Connection How Identity Influences Hispanic Millennial, Ad Age Hispanic
The cultural connections of Hispanics influence their social interactions, attitudes, purchasing behaviors, technology usage and media consumption. Read more here. |
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CONNECT WITH US
Join us on LinkedIn!
Connect with your Hispanic outreach peers with the Coopera and CUNA Hispanic Outreach Connection group on LinkedIn. Post a reply to this month's discussion question:
What do you offer Hispanic members that are turned down because of lack of credit?
Coopera Blog
"Make Strategic Planning for Hispanic Growth Simple" While it's true the Hispanic market is the largest, fastest-growing group in the United States, that's not the only reason the country's credit unions are working hard to learn more about this community.
To read previous editions of this newsletter, click here.
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