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Business / Archive
26 February, 2007 14:03:51 | in General
The Hispanic market of the southeastern United States
Info provided and translated by theAmerican Chamber of Commerce of Peru (AmCham Peru)
Even though there is an important presence of Hispanic people all over the United States, their increasing growth rate in the southeast part of the U.S. has boosted the expansion of trade exchange rates.
In seven states which belong to this area (Georgia, Alabama, South Carolina, North Carolina, Kentucky, Tennessee and Virginia), the Hispanic population grew from 456,000 people in 1990, to more than 2 million people in 2005. A 355% increase in clear contrast with the 16% increase of the total U.S. population.
It is important to make clear that the Hispanic market is not homogenous, not only because of the diverse origins, but also because of the differences that arise between the Hispanics born in the U.S. and those that migrate to the U.S. There are also differences according to how long Hispanic descendants have been living in the U.S.
Also, there has been a significant increase in the number of businesses owned by Hispanic people in the U.S. Data from the 2002 U.S. Census shows that there were 1.6 million companies under Hispanic ownership, which represents an increase of 31% respect to 1997. Those businesses generated sales in excess of US$222 billion.
In seven states which belong to this area (Georgia, Alabama, South Carolina, North Carolina, Kentucky, Tennessee and Virginia), the Hispanic population grew from 456,000 people in 1990, to more than 2 million people in 2005. A 355% increase in clear contrast with the 16% increase of the total U.S. population.
It is important to make clear that the Hispanic market is not homogenous, not only because of the diverse origins, but also because of the differences that arise between the Hispanics born in the U.S. and those that migrate to the U.S. There are also differences according to how long Hispanic descendants have been living in the U.S.
Also, there has been a significant increase in the number of businesses owned by Hispanic people in the U.S. Data from the 2002 U.S. Census shows that there were 1.6 million companies under Hispanic ownership, which represents an increase of 31% respect to 1997. Those businesses generated sales in excess of US$222 billion.
At the same time, in 2002, 44% of those businesses were owned by Mexicans and 36% of them were wholesale companies and retailers. The biggest increase in the number of Hispanic owned businesses between 1997 and 2002 ocurred in the states of Georgia, South and North Carolina, and Kentucky.
In recent years the growth rate increase in the Hispanic population in the United States has augmented its economic importance.
According to the figures published by the Selig Center for Economic Growth of Georgia University, the purchase power of Hispanic from the southeastern U.S. reached the US$34,000 millions.
It is important to point out that even if the southeastern U.S. is a relatively young market, which offers ample opportunities to companies with high quality products and competitive prices, these companies ought to be willing to work with a proper distributor in the development of a brand and in its positioning.
Another important challenge for the exporters is the logistics, since the distributors don’t have the certainty that the Latin company might be able to provide orders in a timely manner.
Most of the time, they even prefer to buy within the U.S, simply to avoid problems at the customs office, thereby guaranteeing a more constant supply.
In recent years the growth rate increase in the Hispanic population in the United States has augmented its economic importance.
According to the figures published by the Selig Center for Economic Growth of Georgia University, the purchase power of Hispanic from the southeastern U.S. reached the US$34,000 millions.
It is important to point out that even if the southeastern U.S. is a relatively young market, which offers ample opportunities to companies with high quality products and competitive prices, these companies ought to be willing to work with a proper distributor in the development of a brand and in its positioning.
Another important challenge for the exporters is the logistics, since the distributors don’t have the certainty that the Latin company might be able to provide orders in a timely manner.
Most of the time, they even prefer to buy within the U.S, simply to avoid problems at the customs office, thereby guaranteeing a more constant supply.
3 Comments
# MIGUEL MARTINEZ says :
28 February, 2007 [ 08:57 ]
1 August, 2007 [ 12:21 ]
9 August, 2007 [ 10:58 ]
# MIGUEL MARTINEZ says :
28 February, 2007 [ 08:57 ]
WELL,I DISSAGREE WITH THIS,NOTE BECAUSE TEXAS AND CALIFORNIA ARE THE BIGGEST HISPANIC MARKET OF THIS COUNTRY,JUST IN HOUSTON MORE THE HALF OF THE POPULATION ARE MEXICANS SO IS CCENTRAL AMERICAN PEOPLE,AND BUSINESSES GROWING EVERY SINGLE DAY,WITH MEXICANS RESTAURANTS,CANTINAS,NEW CROCERIES STORE,ALL THIS FOCUS ON THE MEXICAN MARKET,EVEN THE GRINGOS CELEBRATE MEXICANS HOLIDAYS AS PART OF THE MARKETING FOCUSING THE MEXICAN COMMUNITY,LIKE 5 DE MAYO(PERU VERSION OF 2 DE MAYO)FIESTAS PATRIAS(MEXICAN INDEPENDENCE DAY SEP,15)MEXICAN MOTHER'S DAY MAY THE 10.AND THIS IS JUST SMALL LIST OF THE CELEBRATION IN CASE YOU GUYS NEED TO KNOW,OUT HERE EVERY DAY "LA RAZA"COMPLAINT ABOUT DISCRIMINATION AND THEY(MEXICANS)DISCRIMINATE THE REST OF LATIN AMERICAN PEOPLE,HERE ONLY MEXICANS,SALVADOREANS,# Giuliana Rainuzzo says :GUATEMALANS,HONDURIANS PEOPLE COUNT.AND BUSINESS KEEP GOING LIKE GOLD IN THE MINE.SO IMPORTER FOCUS IN THE SOUTHEAST,AND TRY TO SELL ROCOTOS,PERUVIANS MEDICINES THEY ARE VERY POPULAR SPECIALLY AT THE FLEA MARKETS CHECK THIS PLACE www.sunnyfleamarket.com THIS IS THE BIGGEST FLEA MARKET IN TEXAS IN THAT LOCATION THEY ARE 5 FLEA MARKET ONE OF THE FAMOUS ARE TIA PANCHA OWNED BY A PERUVIAN BUSINESS MEN.CHECK www.tiapancha.com .WELL I WISH THIS TINY, TINY INFO BE A GOOD SOURCE FOR YOU GUYS.
1 August, 2007 [ 12:21 ]
We have an export/import company that sells a top quality rocoto and yellow pepper sauce from Peru, mostly in Florida. I saw your comments...do you think there's an opportunity to sell rocoto in Houston?# Manuel Espinosa says :
9 August, 2007 [ 10:58 ]
TO GIULIANA RAINUZZO.
COULD YOU SEND TO ME YOUR E-MAIL, BECAUSE I AM PRODUCING POWDERED ROCOTO AND I WOULD LIKE TO HAVE A COMUNICATION WITH YOU, TO EXPORT TO USA THIS PRODUCT.
BEST REGARDS
MANUEL ESPINOSA
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