By Rupa Ranganathan originally published April 25
Mother’s Day is fast approaching and retailers from Dell to Luxury Spas are coming up with various deals to seize their share of market by tapping into the “emotional energy” that is intertwined with Mother’s day gift-giving. How many retailers are seizing the high growth opportunity from promoting their products and services to Latinos during this time? I have learned from many savvy multicultural experts that “Mother’s Day is a huge Latino marketing opportunity”. Even as we continue to read about tougher economic times and rising prices for fuel and food, it will become more important to build on strong niche segments rather than spread your dollars too thin across a large and generalized market. The Latino market segment is a readymade opportunity for Mother’s Day. From remittances to flowers to beer, food and even expensive white goods, this is a very important purchasing season.
I interviewed Hallmark’s editorial director, Arlette Torres about Hallmark and Mother’s Day and what makes this a very special holiday for Latinos. She said “Mothers have a place of honor in Latino culture. Mamá is regarded with love, respect and gratitude, which explains why Mother's Day, is Sinceramente Hallmark's best-selling season”. According to Torres, in the general market, Christmas, then Valentine’s Day and then Mother’s Day are the top selling holidays. However, for the Sinceremente range which was introduced some five years ago, to tap into the growing Latino boom, Mother’s day is the top seller followed by Christmas and then Valentine’s Day. Torres adds that in México for example, it's common to serenade mom with live mariachi bands on Mother's Day. Latinos living in the US, but whose mothers live in their country of origin, often send the most expensive and meaningful gifts they can to their mothers- from refrigerators to paid vacations. Yet what percent of the “Mother’s Day” marketing budgets have provided for Moms and Mamás?
spending power alone.
For a deeper insight into Latino culture, spending priorities and more importantly learning how to transform “share of heart to share of wallet” read the newly released book from Paramount Market Publishing titled “ Hispanic Customers for Life: A Fresh Look at Acculturation” by Isabel Valdes.
Recommended Links to learn more about Latinos and about Latinos and Mother’s day visit
Celebramos!
http://www.isabelvaldes.com
http://www.washingtonpost.com/wp-dyn/content/article/2007/05/09/AR2007050902526.html
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