COSTA MESA, CA, December 20, 2008
/24-7PressRelease/ -- Hispanic consumers will play a key role in the success of this holiday shopping season and throughout the recession. As the largest minority group in the United States, Hispanics represent steadily growing purchasing power and are historically unaffected by economic downturns causing retail businesses to seek a more strategic marketing position to target this significant consumer segment.
According to recent data from Experian Consumer Research, 58 percent of the Hispanic population has not used a credit card in approximately the past 30 days and a third most often pay with cash, making these consumers less likely to be affected by the recession and affording them with a higher percentage of expendable income. Additionally, Hispanic buying power is projected to grow to $1.1 trillion by 2009 and to $12.4 trillion by 2011 - reflecting a 287 percent growth from 1990 according to a report published by the Selig Center for Economic Growth at the University of Georgia.
"Because the Hispanic community has grown so significantly, we're fielding more questions from our clients on how best to serve the growing multicultural audience and educating them on how to communicate to a diverse consumer target," said Marcie Perez, Vice President of Consumer & Multicultural services at Idea Hall, an Orange County, Calif.- based integrated marketing communications firm which recently debuted the Hispanic Resource Guide: A Business Case for Marketing to the Fastest Growing Consumer Segment.
Featured in the guide are informational references best suited to serve businesses and professionals seeking to better understand and market to the nation's fastest growing consumer segment, now projected to be more than 45 million (U.S. Census Bureau).
"Now more than ever, marketers are being faced with new challenges and opportunities to target this fast-growing, dynamic minority in Southern California and throughout the US," said Rebecca Hall, APR, Idea Hall president and CEO. "This is a segment that crosses industries and provides growth for multiple platforms."
Topics highlighted in the Idea Hall Hispanic Market Resource Guide include an overview of population trends, statistics, and figures that are impacting today's marketing communications strategies, a review of the fastest growing Hispanic markets, a look at acculturation levels, considerations for marketing to Hispanic youth, Hispanic market buying power, and Hispanic online habits.
About Idea Hall
With offices in Orange County, Calif. and Los Angeles, Idea Hall is a full-service marketing communications agency offering marketing strategy and integrated solutions that incorporate public relations, branding, advertising, design and interactive marketing services. The agency develops results-oriented consumer and business-to-business programs for clients that operate in 30 major markets nationwide. The firm offers specialized experience in architecture and building, banking/finance, commercial and residential real estate, consumer products/services, destination and hospitality, education, entertainment, healthcare, non-profit, professional services, public agencies and sports marketing.
Idea Hall currently provides Hispanic public relations and marketing services to Warner Brother's Baby Looney Tunes, Mi Pueblo Food Center and Nutrilite.
Idea Hall ranked No. 667 in the Inc. 5000, which recognizes the fastest growing companies in the nation. Idea Hall is ranked as Los Angeles' 15th largest public relations agency by O'Dwyer's and is also included on the publication's 2008 national ranking of the 150 largest public relations firms. In Orange County, Idea Hall ranks as the second largest firm on the Orange County Business Journal's list of public relations firms. For more information, please visit http://www.ideahall.com.
About Idea Hall
Idea Hall is a full-service marketing agency with offices in downtown Los Angeles and in Orange County (Costa Mesa), California.
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