Latin GDP in the USA
I recently participated in the Hispanic Leadership Summit, during which I learned a lot. Did you know that the “total economic contribution of Latinos in the United States, the Latino GDP, was $2.6 trillion in 2018…” according to the 2020 LDC U.S. Latino GDP Report. Interestingly, the same report states that if “it were an independent country, the Latino GDP would be the eight largest in the world.”
As an Advertising, Marketing and Promotions Law attorney, I’m usually at a loss to understand why so many marketers don’t market in Spanish in the USA given the Latin purchase power. The top three reasons I hear for not marketing in Spanish are:
- I don’t need to,
- Latins speak English
Of course, there are other reasons like, we don’t have a multicultural agency, or we don’t speak Spanish, etc. So, how do you solve these issues? Let me know your opinion in the comments. I would love to learn more from you.
Best business practice: the time has come to advertise in Spanish. Friendly reminder that all advertising campaigns must be legally compliant regardless of their language, which means your marketing campaigns need to reviewed in Spanish, which I offer.
ATTORNEY ADVERTISING. PAST RESULTS DO NOT GUARANTEE SIMILAR OUTCOME.