The tumultuous rise of the US Latino population is flooding the American marketplace with new consumer cultures. Financial services companies of all dimensions must reexamine their competitive strategies lest they be swept away by this demographic tidal wave.
In many markets, a loyal franchise of Hispanic customers will make the difference between greater competitive solvency versus a significant loss of shareholder value. In other instances, remaining on the sidelines will avoid the inefficient use of corporate assets. But in any case, every competitor will have to assume a deliberate posture vis-à-vis the Hispanic consumer segment: one that is researched and reasoned and not the risky by‑product of suppositions, inertia or happenstance. This is a challenging undertaking that cannot be postponed.
Praxxis is ready to assist in that pressing task.
We have critical industry expertise, real world experience and innovative approaches to help financial sector companies chart the right course of action in the Hispanic market.
Insights:
Hispanics
and the
Internet
Case:
Defending a Franchise
Analysis:
The Trap
of Benign
Neglect
After
lagging behind in Internet usage for years, the
online Latino population continues to surge.
With half of…
More
An east coast bank with a large share of the Hispanic market in its
trading area was experiencing stagnant growth in
the segment… More
Typically, most US firms
have historically followed a policy of benign neglect and marketing under-spending
when it comes… More
