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Isaac Mizrahi From ALMA: The Hispanic Segment May Be The Best Growth Opportunity In Upcoming Years
Manuela Walfenzao| 24 de agosto de 2017
Mizrahi: La agenda es enfocarnos en nuestra industria
Isaac Mizrahi, Co-President, and COO at ALMA wrote in Forbes an article titled, CMOs, Follow The Growth: It’s Time To Review Resource Allocation Toward Hispanic Marketing. In the U.S., several companies eager for any meaningful growth are ignoring one of the best opportunities available in the market: leveraging multicultural segments’ insights, mainly from the large Hispanic segment, he highlighted.Mizrahi said that, in fact, in the last few months there has been a movement of brands that are changing their “Total Market” approach and are revamping their Hispanic marketing programs. He explained that a recent analysis conducted by ALMA’s Marketing Science and Analytics team revealed that Hispanics represent a disproportional slice of their categories’ growth. For example, if you consider the number of incremental auto owners added between 2012 and 2016, the Hispanic segment added almost 4 million new car owners, which means that almost one-third of all incremental car owners in the U.S. in the past few years came from the Hispanic segment. In 2016 alone, this number grew to 54%. This pattern is observed in other 11 categories, he said.According to Mizrahi, this is not a coincidence, since this pattern reflects a combination of growth of Hispanic population with improvements in available income, mainly due to a stronger work market and improvements in educational achievements. “Therefore, the Hispanic segment may be one of the best growth opportunities in years to come and marketing budgets can benefit from allocations oriented towards growth” he said.
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