Hispanic Leaders Needed for Growing Consumer Base

By Conan Milner
Conan Milner
Conan Milner
writer
Conan Milner is a health reporter for the Epoch Times. He graduated from Wayne State University with a Bachelor of Fine Arts and is a member of the American Herbalist Guild.
December 7, 2010 Updated: December 7, 2010

[xtypo_dropcap]C[/xtypo_dropcap]orporations increasingly require Hispanic professionals. That’s the reasoning behind a quest to train 1 million Hispanic professionals within the next decade.

The Center for Hispanic Leadership (CHL) say they want to capture the growing Hispanic purchasing power estimated to reach $1.3 trillion in just four years by developing leaders within their community.

“Corporations must respect and serve their multitude of specific needs that focus groups can’t always detect. Bilingual packaging and high-priced advertising that do not connect culturally, will not succeed,” said CHL founder and CEO Glenn Llopis in a statement for his company’s quest, adding that Hispanic consumers require a genuine belief that they are understood.

Llopis explains that by allowing leaders within their community “to create the innovation requirements to assure long-term success in this maturing market segment,” corporations can earn the Hispanic consumer relationship. And all signs point to this relationship being a profitable one in the years to come.

“By 2015, millions of baby boomers will have begun retiring, thus reducing their consumer spending. Hispanic consumers will play a major role in replacing those retirees in the consumer marketplace and will contribute to the upsurge of retail spending and economic growth,” writes Peter Francese in an article from earlier this year in Advertising Age.

Francese compares the current population of Hispanics in the United States with the idealized concept of 1950s America. He observes that they eat family meals at home, are moving to the suburbs, tend to be community-oriented, and have high aspirations for their children. “In short, they are the sweet market for consumer goods and services that the entire nation used to be when baby boomers were young,” he writes.

“We have reached a pinnacle stage in America that requires a new enlightened form of leadership to renew the ways we must think, act, and innovate in the workplace. Hispanic professionals are in a unique position to assume this role,” says Llopis.

Conan Milner
Conan Milner is a health reporter for the Epoch Times. He graduated from Wayne State University with a Bachelor of Fine Arts and is a member of the American Herbalist Guild.