July 20, 2009

Hispanic Consumers Offer Opportunities In A Recession

But Their Loyalty Is On The Decline

by Tamara Barber

with Reineke Reitsma, Bailey Liackman

Executive Summary (This is a document excerpt)

Tight budgets drive many companies to cut back on niche marketing during tough economic times. The relative small amount of dollars that firms spent on Hispanic marketing in years past is harder to come by, and now more than ever, Hispanic marketers and market researchers need to prove the value of targeting Hispanic consumers. There's little doubt that Hispanic consumers are a growing part of the US population and have a significant impact on companies' bottom line. Forrester's Hispanic Technographics® data reveals that targeting these consumers must still remain a priority in a recession because their financial optimism and lower exposure to debt will allow a quick start to their spending in a recovery. But marketers have to start building the relationship now as the recession negatively affects Hispanics' loyalty and use of ads for purchase decisions.

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