Latin America leads the recovery in advertising spending worldwide

In June 30, 2009, we reviewed at idaconcpts that talking about Latinos as a group is difficult because this group has so many commonalities with various ethnic groups, that trying to seggregate websites between Latino and non-Latino is a strategy that spells disaster.

According to Dr. Korzenny from the Center for Hispanic Marketing Communication at the Florida State University, when compared to other ethnicities, U.S. Hispanics appear to consume more digital content.  Therefore, it shouldn’t come as a surprise that Latin America is part of the recovery in advertising spending worldwide.

Ad Spending to Recover Slo-o-owly - eMarketer

Even though the total advertising spending in Latin America is much smaller than that in North America, (ranging from 18% to 21 from  2009 to projections for 2010 and 2011 by eMarketer) savvy marketers, Internet startups, and  companies in general, should be aware of 3 obvious trends:

1. Latin America holds the key for a better understanding of the Hispanic market in the U.S.

According to the Immigration Informaiton Source website, in 2006, 47.2 percent of immigrants reported Hispanic or Latino origins.  Therefore, it is not a suprise that Business Week’s Douglas MacMillan reported that of marketers that target minority groups, 95% tailor messages to Latin Americans. However there is still much to be learned about the field.  Click here for an insight into how to approach the U.S. Hispanic market.

2. According to eMarketer, Hispanics make up 12.3% of the total US Internet population in 2009, and that number will increase to 13.9% in 2013.

Hispanics Online: No MౠE-Barrios - eMarketer

3. The U.S. Hispanic presence in the Internet is not only going to increase in quantity but also in quality as Hispanic U.S. Internet users are poised to have the highest purchasing power.

 

Hispanics Online: No MౠE-Barrios - eMarketer

Damian Davila

Ideas and concepts from Damian Davila, Ecuatoriano thriving in Hawaii. Pro marketer and blogger. Find him at @idaconcpts on Twitter.

2 Comments

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