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Marketing Beverages to US Hispanics: Lessons from the field - October 2003 |
| | Consumer Goods and Services | | | Author: Oscar Gonzalez Fred Sztabinski |
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US Hispanics, who tend to be heavy consumers of certain beverage products, have established the Hispanic segment as the fastest growing component of the US beverage market. This fact has attracted increasing interest from established US brands, seeking to retain market share, as well as Latin American suppliers searching for export dollars. At US $25 billion and climbing, the US Hispanic beverage market represents 12% of the national total. This is in line with the Hispanic share of the US population but much higher than the Hispanic share of income and consumption. With its young consumer base, the Hispanic component is growing four to five times faster than the overall beverage market. This has attracted massive brand-building efforts by the largest players, seeking to establish long-term customer loyalty.
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