Hispanic or Latino shoppers across the United States wield more than $1.2 trillion of buying power annually with projections of $1.5 trillion by 2015, according to Nielsen.
It comes as no surprise that Wal-Mart Stores plans to focus more on this powerful consumer group.
Stephen Quinn, executive vice president of marketing for Wal-Mart, told suppliers at the beginning year meeting last week in Orlando that the retailer’s marketing focus this year is in step with the merchandising goals of localization, being more competitive locally and more keenly focused on Hispanic shoppers.
Wal-Mart is already the biggest retail spender in the Hispanic market, according to Ad Age, doling out a reported $66.6 million in 2010. The retailer said last year it planned to ramp up that investment by 100% in the next year or so.
The majority of Wal-Mart's Hispanic stores are concentrated in 8 states including 171 in Texas, 126 in California, 50 in Florida, 36 in Arizona and 33 in New Mexico. READ MORE
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