As tired as I am of seeing stories from around the country “discovering” how great Houston is, I’m also enjoying it. There’s a small part of me that just wants to stick my tongue out at other cities, you know the ones, and say “take that!”
One recent article I really enjoyed, “Houston Best City In America” from Business Insider, is worth checking out. It mentions the fact that Houston is now the most ethnically and racially diverse city in the country. They discuss the food, quite a bit, and the fact that we sort of rock when it comes to quality and innovation. And, of course, the fact that Houston has more parks than any other top-10 metro areas.
Read it. You’ll be impressed.
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Image source: bykst / Pixabay
In a nice improvement on the conversation about pay for service employees, Starbucks is has agreed to pay the tuition of its employees who enroll as juniors or seniors in the online program at Arizona Stage University. This is great news for Starbucks employees.
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Image source: Nemo / Pixabay
Katy’s 77494 zip code saw more household move-ins than any other in the country, according to Welcomemat Services and reported by the Houston Business Journal. I guess I need to be paying more attention to the western side of the city.
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Houston suburb of Katy is the hottest area in the country for relocations – Houston Business Journal
RECOMMENDED READING: Fort Bend, Montgomery, Harris counties drive growth in Houston, Census Bureau data shows – Houston Business Journal
Houston is growing, but Harris, Fort Bend and Montgomery counties dominate. Ninety percent of residents that moved to the Houston area between 2012 and 2013 moved to one of these three counties.
Image source: Frauke / Pixabay
The Houston Press is reporting that Houston was only surpassed by New York in population growth last year. We added 35,202 residents in 2013.
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- Houston Second in Population Growth, Census Says || Houston Press
- Houston the second fastest growing city in the U.S., Census data shows || Houston Business Journal
Image source: Nemo / Pixabay
Upscale Latinos: A Renewed Outlook For High-End Marketers
Last year, AHAA: The Voice of Hispanic Marketing and Nielsen identified Upscale Latinos as the most influential segment since the Baby Boomers. Today, at AHAA’s Annual “Thinking Under the Influence” Conference in Miami, AHAA and Nielsen released a second study, “Upscale Latinos 2.0: A Renewed Outlook for High-End Marketers,” which found that this segment, which contributes nearly 40 percent of the $1.5 trillion Hispanic spending power, leads the overall upscale demographic in optimism, purchase behaviors, and plans to further increase spending. The study also identified midscale and fine department stores, prestige cosmetics, and casual dining as key categories for growth.
“Upscale Latinos have demonstrated significant upward mobility across the upscale economy, making them an enormous opportunity for growth for U.S. marketers,” said AHAA Education Chair Gaby Alcantara-Diaz, president of G ADMarketing Communications. “Latinos are living the American story and augmenting it by upgrading their lifestyle, sense of self, and family with the pursuit of luxury – a key distinction that makes this segment so attractive to a broad set of brands.”
The Balance of Optimism, Family and Success Drive High-End Purchases
Upscale Latinos, defined as households earning $50-100K, tend to be bicultural, skew younger with larger families, and are more likely to be dual income earners than non-Hispanic Upscales. A tech-savvy segment, they tend to be nearly as White and Gray collar as non-Hispanic Upscales and have more college attainment than overall Hispanics.
“One of the most compelling attributes of the Upscale Latino is their consistent level of optimism about safety, well-being, and wealth creation,” said Monica Gil, SVP and general manager, Multicultural Growth & Strategy, Nielsen. “This optimism, confidence, and increased spending make this segment an imperative to the U.S. economy and prestige brands.”
According to the new Upscale Latino 2.0 study, Upscale Latinos lead healthier lifestyles and provide health coverage for their families. They are also are determined to invest in their children’s advanced education; and while they are as likely to plan for retirement as the Upscale non-Hispanics, helping support their elderly parents is of higher importance than their non-Hispanic Upscale counterparts.
- Avid mobile bankers, Upscale Hispanics spent $3.7 billion in online purchases in the past 12 months with clothing/accessories, airline tickets, health & beauty and home accessories.
- 40 percent of Upscale Hispanics purchased home furnishings/appliances in past 12 months; 18percent more likely vs. Upscale non-Hispanics (34%).
- Hispanic Upscales are more likely to have higher incidence and intent for home entertainment electronics, children’s clothing, designer shoes/clothing/accessories, and home improvements.
One Powerful Segment, Three Different Mindsets Led by “Luxury Seekers”
Within the influential $500 billion Upscale Latino segment, there are three attitudinal sub-groups, each reporting 60 percent having strong ties to their Latino culture and 30 to 40 percent voicing a strong cultural duality:
- Luxury Seekers (42 percent) are mostly drawn to high-end products for individual rewards, and feeling good about themselves. This attitudinal segment is 24 percent more developed among Upscale Latinos than among non-Hispanic Upscales.
- Sensible Seekers (40 percent) tend to be more pragmatic about their purchases and make high-end decisions more functionally, when it “makes sense.” This attitudinal segment is almost 20 percent smaller among Upscale Latinos.
- Social Seekers (18 percent) see high-end good and services as refined and seek recognition and social status.
Led by Luxury Seekers, Upscale Latinos spread their discretionary spending across all different classes of retailers. They are twice as likely as non-Hispanic Upscales to increase their spending in department stores and twice as likely to shop high-end department store brands that allow them to project success, even at a premium price. Luxury Seekers are most comfortable shopping in mid-market stores, which have been successful in attracting and retaining the Upscale Latino shopper.
What does this mean for marketers?
Upscale Latinos share many similarities with Upscale non-Hispanics, but they also display significant differences across drivers, indifferences and detractors which vary by category. They often derive value from high-end goods and services from a set of needs and desires that is nuanced. Overall, they have acquired an affinity toward mid-market and high-end retailers, prestige cosmetics, and core casual restaurants that fit their unique emotional and functional needs – and a willingness to spend more.
“This study suggests that opportunities exist to optimize high-end brand efforts by developing an overarching brand message and complementing it with more targeted approaches that respond to particular drivers and detractors within each subgroup,” added AHAA Research Chair Carlos Santiago, president of Santiago Solutions Group. “As part of AHAA’s thought leadership initiatives, we plan to host a series of webinars with Nielsen that dissect media consumption and explore the categories that present the greatest opportunities for growth.”
About AHAA: Founded in 1996, AHAA: The Voice of Hispanic Marketing is the national trade organization of all marketing, communications and media firms with trusted Hispanic expertise.
About Nielsen: Nielsen Holdings N.V. (NYSE: NLSN) is a global information and measurement company with leading market positions in marketing and consumer information, television and other media measurement, online intelligence and mobile measurement. Nielsen has a presence in approximately 100 countries, with headquarters in New York, USA and Diemen, the Netherlands. For more information, visit www.nielsen.com.
SOURCE AHAA: The Voice of Hispanic Marketing; Nielsen
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Source: Upscale Latinos: A Renewed Outlook For High-End Marketers || PR Newswire
Found via: Hispanic PR blog
Image source: Hans / Pixabay
The Houston Business Journal reported that Houston’s unemployment rate fell below 5% for first time in 6 years. It was at 4.6% for April 2014.
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SOURCE: Houston’s unemployment rate below 5% for first time in 6 years || Houston Business Journal
Image source: Unsplash / Pixabay
According to Rice University’s 33rd annual Kinder Institute Houston Area Survey, 29% of Houstonians (or rather of respondents) said that traffic is the city’s worst problem. According to this article from the Houston Business Journal, that’s up from 21% in 2013.
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- Source: Houston’s a great place to live and work, as long as you’re not stuck in traffic, Kinder Institute finds || Houston Business Journal
- Image source: pattyjansen / Pixabay
CBS Money Watch reports that the “top 1 percent of Americans now take home 20 percent of all pre-tax income in the country, or more than double their share in 1980.”
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WORKSHOP: Hispanic and Asian Millennials: Best Practices to Engage Houston’s Fastest Growing Demographics
The Houston Chapter of the American Marketing Association is holding this workshop, “Hispanic and Asian Millennials: Best Practices to Engage Houston’s Fastest Growing Demographics,” on Thursday, May 8, 2014 at 8:00am-10:00am.
Hispanics and Asians are the fastest growing ethnic groups in the US and Houston respectively.
With Hispanics comprising 62% of Houston ISD and Asians as the fastest growing ethnic group with a significant purchasing power, companies in Houston are paying close attention to these groups. We invite you to learn from our elite panelists who are ahead of the curve and have a plan of action on how to harness the purchasing power that these ethnic groups represent.
Attend our workshop and learn from our renowned group of panelists:
- Understand their media habits and shopping behaviors
- Know how to connect your brand to their choice set
- Learn how Millennials in both ethnic groups value their family, heritage and community
- Juan Tornoe, Chief Marketing Officer, Cultural Strategies
- Salomon Dayan, Digital Group Account Director, Lopez Negrete Communications
- Jaime Virkus, Marketing Manager, Coventry & Plantation Homes
- Eric Melchor, Digital Marketing and Sales Channel Manager, Direct Energy
- 8:00 am Registration, Breakfast and Networking
- 8:35 am Welcome Address
- 8:45 am Panelist Address
- 9:20 am Panel Discussion
- 10:00 am Q&A
- 10:30 am Closing Announcements
Image source: OpenClips / Pixabay