No matter what happens at the Presidential ballot box this year, the Latino American population will continue to increase. In 2060, t is projected that almost 30% of the American population will be Latino American. With this increase in population and buying power, companies are preparing for the largest emerging market in the nation to take center stage.
To do this, the term Ambicultural is growing in popularity. Ambicultural refers to individuals who are “at once entirely American and entirely of one’s culture of origin” as well as fluent in multiple languages (i.e. English and Spanish). Corporations are developing marketing strategies where characters connect with issues pertaining specifically to the Latin community. According to the Association of Hispanic Advertising Agencies “Procter & Gamble spends the most on Hispanic advertising, followed by L’Oréal, MARS, Wal-Mart, and Anheuser-Busch."
Preparing for the future is smart, and corporations looking to grow must connect with the Latino community to stay competitive.