Latinos view shopping much differently than their non-Latino counterparts. For Latinos, shopping is not a process or a chore; it’s an experience – a multisource, multisensorial and multigenerational experience that provides retailers and marketers with a wide range of opportunities … Continue reading
The market for Hispanic foods and beverages reached almost $8.2 billion in 2012, up 3% from the previous year and up 8% from $7.5 billion in 2009. In addition, sales of Hispanic foods and beverages are expected to reach $10.7 … Continue reading
There is a growing necessity for brand marketers to provide culturally relevant content and messaging that specifically targets US Hispanics. In fact, Nielsen’s recent study, The Hispanic Market Imperative – clearly states that Hispanics are the largest immigrant group to exhibit significant sustainability of their culture and are not disappearing into the American melting pot. Now that we have confirmed that cultural sustainability matters to US Hispanics, companies must become more educated about the Latino community not just as consumers – but more importantly, as people and the identity we represent as a diverse community. They must recognize that Hispanics buy brands that empower their cultural relevancy.
Read more: Hispanic Trending
As ad agency honchos descended on LA Last week for their annual convention, the executives would have benefited from a short ride to Hollywood Boulevard, home of the Kodak Theatre, for a moment of reflection. Just as disregarding the impact of digital technology led to making the Kodak brand irrelevant, general-market agencies are risking becoming irrelevant as well by ignoring the cultural and ethnic diversification of America.
Our society is moving toward becoming truly multicultural. According to the 2010 Census, the so-called minority population, mostly Hispanic, African-American and Asian-American, is rapidly rising and now makes up 35% of the population. It is an unmistakable trend that will make these multicultural groups the majority by mid-century. California, Hawaii, New Mexico, and Texas – as well as the District of Columbia already have so-called minority populations that have exceeded 50%.
Read more: Forbes
Historically, marketers have placed much emphasis on the role of family in defining how a Latina is uniquely different from other ethnic or cultural groups. While this continues to be an important factor in marketing, there are increasing numbers of companies discussing how empowering Latina women can be a driving strategic principle behind their brands.
Read more at: PACO
The world is getting smaller. As new technologies in social media, transportation, and telecommunications bring us closer together, it’s more critical than ever for organizations to recruit, develop, and retain multicultural leaders who can skillfully navigate both the opportunities and challenges of a more connected world.
So what can managers do to contribute their part?
1. Focus recruiting efforts to bring diverse, multicultural candidates into the company. This might include adjusting employer branding messages, diversifying recruiting talent sources, or even adjusting selection criteria to reward multicultural experience and leadership capability. It may also entail hiring experts such as cultural anthropologists who can support a more targeted exploration of a specific culture.
2. Make multicultural experiences an explicit part of career path conversations and performance reviews so that young managers can begin to treat view multicultural skill development more seriously.
3. Build multicultural elements into management training programs, either by adjusting existing curricula or developing new materials.
4. Launch structured mobility programs that bring rising managers to different cultures and geographies on both short-term projects and medium-term rotations. This will ensure that multicultural leadership development is embedded throughout an organization’s talent management processes.
5. Integrate multicultural insights into business decisions and strategy. After all, the above interventions mean little if managers do not actively harness the insights that only multicultural leaders can bring to the table.