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Data show that the U.S. Hispanic population has grown four times faster than the total U.S. population. In the past 10 years, it has increased by 15.2 million and accounted for more than half of the nation’s total increase of 27.3 million people. And while the total population declined by 2 percent in the past year, the Hispanic birth rate increased by 14 percent.
Yet this growing group remains largely overlooked by business leaders. Only half of all U.S. brands include Latinos in their marketing mix, despite their $1 trillion purchasing power.
In this article, Woodward explores why marketers aren't targeting the country’s fastest growing demographic more heavily.