Carlos Santiago of SSG: What attracts a Hispanic to spend in different categories is different from what attracts a non-Hispanic

During the Geoscape Business Summit, PRODU interviewed Carlos Santiago, president and head of strategy at Santiago Solutions Group, a corporation that develops business models and counsels clients to concentrate their resources on the biggest opportunities, taking into account the growth of the multicultural market.Santiago shared the results of a variety of recent studies. The first focuses on the impact of spending and budget levels of certain companies targeting the Hispanic market. The research, he said, shows that switching resources from the general market to the Hispanic segment promotes the rapid growth of a corporation.A second study reveals the duality of Hispanic consumers, which is present not only among the Millennial Generation but also among Baby Boomers. The results indicate that having ad campaigns in both English and Spanish is to a company’s great advantage.Meanwhile a third report notes that 29 percent of Latinos represent approximately 40 percent of Hispanic purchasing power in the American market – close to $500 million comes from a group made up of 15 million Hispanics. Santiago, partnering with AHAA, has just finished a new study together with Nielsen and whose entire version will be released during the AHAA event themed Thinking under the Influence: The Next Five Years, to be held at the Eden Roc Renaissance hotel in Miami Beach between April 28-30.