The Hispanic community is breaking population growth records and leading the emerging market as the dominant minority segment. Can you hear opportunity knocking? If you are among the forward-thinking lawyers looking to create a business plan for the changing market, you already recognize that the future is NOW.
While today’s high-tech world is fiercely competitive, Hispanic entrepreneurs are reaching out to their culture and heritage to cater to the exploding number of Hispanics living in the United States.
“The Hispanic market is the fastest growing segment online,” says Alicia Morga, chief executive of Consorte Media. “It’s too big of a market to ignore.”
Market research firm Synovate’s 2016 US Diversity Market’s Report estimates that more than 55 percent of the 57 million US Hispanic adults, some 32 million people, are making purchasing decisions online. This comes at a time when Hispanic buying power as a whole is expected to hit $1.8 trillion in 2020.
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