Marketing to Latino Consumers, opportunity knocks or not?

I recently attended a packaging conference in Chicago where I saw and heard excellent presentations on consumer brands, package design and innovation, as well as overall consumer insights and trends. I was impressed and inspired, but was also left with several questions; some remain unanswered.
The biggest question I came away with was: “where does that leave Latino consumers and why weren’t they addressed as a US demographic?” I had some insightful conversations with attendees and presenters about consumer patterns, innovation, etc. but when I mentioned Latino consumers, they brought up their marketing efforts in Mexico and other Latin American countries. I found this interesting because of the size of the US Latino consumer base. 

Where does this put us (Latino consumers) and how do we fit into their plans? Or do we?

When I was casually conversing with attendees and presenters about this, they mentioned success of their products in these other countries as well as their competitors’ presence there.  Perhaps Mexico and other Latin American countries present more opportunity for larger US companies such as P&G, General Mills, DuPont and Colgate-Palmolive to be more innovative and bold in their marketing efforts compared to the US Latino marketplace(?).

If this is true, then why do marketers see the US Latino consumer so differently?  I find this very interesting on a socio-demographic level as well as an intellectual and creative level. I’ve had numerous discussions with other innovative Latino creatives, entrepreneurs and advocates (usually equally frustrated) about the lack of innovation not only in marketing to US Latinos but a “dumbing down” of innovation and marketing efforts to us.

Are we not demanding enough of innovation?

Are we not worthy of this type of innovation?

Our dollars seem to account for nice, tidy profit margins but then why do marketers still continue to over look us?

I’ll admit that I didn’t ask these questions of the presenters during the actual presentation. It was only after their excellent, thought provoking and insightful presentations that these questions seemed to pop up.

I know that in Mexico, consumers can be very particular as well as extremely brand loyal. With that said, when examining another country in general, it may be (perhaps) easier to approach them more holistically as opposed to trying to approach multiple individual or different market demographics which need to be segmented. I know segmentation (the big S word) frightens some marketers, especially at budget time. But, knowing there is a strong, virtually untapped market here in the US and knowing the buying behaviors of consumers in their native countries; like brand loyalty, why wouldn't marketers find opportunity in us.

Sometimes, when presenting to organizations and MBA candidates, I usually approach the issue of marketing (or lack of) to the US Latino population subject in a provocative manner with more questions than I’ll supply answers to.

I look forward to presenting some findings, conclusions or more questions that I managed to pick up at this recent conference.

Comments

[Shannon]

Great insight into why the Laino Market is often overlooked and how marketers are missing out.