There are more Hispanics in the U.S. than there are people in Canada. The U.S. Hispanic population’s current spending power is now over $1 trillion. More than 65 percent of Hispanics believe in herbal supplements. I heard these astounding statistics today from featured speaker Dr. Luis Pacheco here at the NBJ Summit in Dana Point, Calif.
Whenever I looked around the room I was happy to see about 300 nutrition business executives listening attentively or jotting down notes. It’s about time the natural products industry began serving the Hispanic community.
Pacheco, Hispanic himself and a fluent Spanish speaker, is somewhat of a celebrity doctor in the Southern California Hispanic community. When he provides services at health fairs, lines of people coming to see him form down the street.
The Hispanic supplement category is very underpenetrated in the traditional retail channels like Walmart, he said. When putting his presentation together he tried to think of some examples of supplement companies doing a good job marketing to Hispanics and couldn’t. Can you?
What sort of products would resonate with Hispanics? Well, they suffer from the same health concerns as everyone: pain, joint arthritis, weight management, low energy, high cholesterol, stress, allergies, cleansing, detox, headache and menopause.
What’s vital in capturing this demographic is the marketing angle, Pacheco said. To understand how to market to Hispanics, he says you have to spend time getting to know the market. Find out what cartoons the kids are watching and advertise a kids’ supplement then. When are Hispanic paydays? They tend to pay in cash. What time does a typical day end in that community?
Also key is understanding translation versus transcreation. The former conveys the exact meaning and is ideal for legal documents and ingredients. Transcreation is the creation of customized source material for the target audience.
Hispanics are very brand loyal, Pacheco says. Once a family member swears by a brand, the rest of the family will buy it without question. “If you can get the grandmother to like a brand, you could not just have a lifetime customer, but customers for generations,” he says.
So, which manufacturer out there is going to bring that natural product marketed to Hispanics to the shelf? The time is now.