This places food retailers (specialty and mainstream) in search of new brands and products to sell to this growing population. This includes authentic new and traditional foods & beverages for Hispanic consumers as well as the mainstream.
The mainstream/general population has also acquired a taste for authentic ethnic flavors and food trends. They’re looking to go beyond the “safe and unadventurous” flavors of yesteryear.
Here are some things to consider if you’re planning to develop a Hispanic focused brand:
- Is it something that Hispanics will recognize and be drawn to?
- Is it authentic? Is the name and positioning on target?
- Is it aspirational? In a clear and genuine manner? Inexpensive products don’t have to look cheap/generic. Everyone wants value, and consumers want a taste of the good life. Hispanic consumers are no different.
- Does it make an emotional connection? Will consumers have a desire to purchase this? Will they spread the word?
- Does the packaging and everything else about the brand support each of these 4 elements?
A successful brand will engage its audience (and others), as well as provide a positive and consistent experience which meets/exceeds their expectations. Many successful brands do great in the mainstream, yet forget (or disregard) due diligence and discipline when expanding into Hispanic food and beverage categories.
It’s important to be smart and invest wisely as you go into this category. Develop a strategy, be efficient and be innovative.
Source: Packaged Facts, 2009 and US Census Bureau