Pointing to the fact that Hispanics will account for 10% of the US population's purchasing power by the year 2010, Wal-Mart CEO H. Lee Scott has announced that the mega-retailer is looking into how it can better understand and appeal to its Hispanic consumer base both in the USA and in its Mexican and Central American markets.
Scott noted that at present Wal-Mart spends approximately $45 Million a year on Spanish language advertising, and that its 1300 US stores with primarily Hispanic clientele increased sales by 9% last year alone.
Wal-Mart also recently increased its stake from 33% to 51% in CARHCO, a major supermarket owner in Central America, also signaling an increasing interest in Hispanic markets.
At the company's second annual media conference, Scott asserted that US Hispanics have a greater attraction to Wal-Mart than any other segment of the US population.
