Unlocking the Hispanic Super-Consumer Opportunity
by Glenn Llopis March, 2012
The Hispanic community is one of the greatest untapped markets we have ever seen. Already the largest minority in the U.S., their numbers continue to grow faster than any other group. The total number of Hispanics in the United States today is 50.5 million people strong – and climbing.
The emergence of Hispanics as a consumer force is growing rapidly, with a purchasing power expected to reach $1.2 trillion dollars in 2012. Dubbed "super consumers," Latinos in the U.S. are blowing past the mainstream and other minority groups in this regard. In fact, the U.S. is seeing an increase in buying power not happening in other countries, and that is because of Hispanic growth here.
The premiere CHL program is CHL's new Hispanic Leadership Certification Program. This program is the first of its kind in the United States. It seeks to help talented Hispanic executives and rising stars find their authentic leadership voices and put them to use in bringing growth and innovation to their organizations. It also seeks to help organizations empower and expand the influence of their Hispanic employees by providing them with the tools they need to become effective corporate citizens.
The workplace and business landscape has changed, becoming rapidly more diverse and global, and American business leadership is not moving fast enough to catch up. In fact, leadership in America's corporations is losing its impact and influence to perform in this changing terrain. As a result, U.S. businesses risk falling further behind in marketplaces around the world. Many of the dimensions of the changing competitive landscape are well known – the varying cost of labor, the shift of manufacturing overseas, the exploding economies of the BRIC (Brazil, Russia, India and China) countries – but what is less well understood is the role that diversity plays in both the marketplace and in the competitive advantages BRIC companies and others enjoy. It is not enough to meet the numbers in terms of workforce diversity and to pursue ethnic product differentiation, as many U. S. companies have done. Diversity – more broadly defined and better understood in the U. S. as the immigrant perspective – holds the keys to unlocking business growth and innovation in the next decade and beyond. Companies that develop an immigrant perspective will dominate their marketplaces in the years to come.
If you would like to measure your opportunity mastery skills in the workplace then take the quiz that will determine your Serendipity Quotient (SQ). Your results will represent your propensity for creating and sustaining opportunities in your work.
The 2011-12 Hispanic Leadership Tour mission is to educate Corporations on how to gain a global competitive advantage by allowing their Hispanic Talent to activate their natural characteristics that make them great leaders to propel workplace innovation and spearhead marketplace growth and expansion.
Center for Hispanic Leadership Summit: Embracing Innovation through Diversity
On September 18, 2010, we hosted our first CHL Summit in California. The event focused on embracing innovation through diversity. Our discussions addressed ways to thrive in today's brave new workplace – and the new role that diversity must play to help create sustainable innovations. We unveiled key insights and research that show how Hispanic leaders in the workplace play a critical role in accelerating innovation for the betterment of all. Click here for a summary of the Event.
Let's Leverage our Hispanic Heritage to Discover Our Full Potential
It's time for Hispanics to accept that our cultural roots, rich legacies and the diversity within our community represent unique sources of strength for societal and leadership advancement. Our quest for opportunity; our ability to anticipate crisis and manage change; our contagious levels of passion and entrepreneurial spirit; our generous purpose and desire to hold onto our cultural roots to preserve the legacy of our family – represent the fabric of who we are and what we stand for.