April 22, 2005
The Direct Marketing Association (DMA) has just released its first-ever "DMA 2005 Hispanic Market Report," in which it evaluates the growth potential of the Hispanic market in the U.S. for teleservices agencies.
Notable informational tidbits from the report include:
- US Census projections indicate that the U.S. Hispanic population will triple to over 102 million by 2050.
- Hispanic-Americans are increasing in affluence and are among the most credit-worthy customers in the U.S.
- Hispanic-Americans have a purchasing power currently greater than $600 billion, a number which is expected to grow to $1 trillion by 2007.>
Though some of today's teleservices agencies pay primary attention to the U.S. Hispanic Market (most notably Hispanic Teleservices Corporation, www.htc.to, which ranked at number 30 on Customer Interaction Solutions' global aggregate Top 50 Teleservices Agencies Ranking) and others offer some bilingual services in Spanish, this market is not as well served as it should be.
The DMA's new report "captures key data about the Hispanic-American population regarding its attitudes towards distance shopping, and it identifies current buying trends. Utilize this report to create a strategy that correctly addresses this increasingly important segment of the population." It was created to help companies:
- Profile the characteristics and demographics of the Hispanic-American population;
- Understand the differences and attitudes between distance "buyers" and "non-buyers";
- Determine the importance of communicating direct offers in Hispanic consumers' preferred language;
- Learn the influence of the country of origin/ancestry on direct purchasing behavior;
- Uncover the factors that lead to infrequent distance shopping; and
- Identify ways to increase Hispanic consumers' direct response shopping.
For more information, visit www.the-dma.org/cgi/offer?uid=002344.