AHAA Review: Growth Despite Economic Difficulties
Most attendees at the the Association of Hispanic Advertising Agencies (AHAA) 24th Semi-Annual Conference in San Antonio noted that despite the current economic downturn, the U.S. Hispanic Media and Advertising Industries will continue to grow during 2008. Strong demographic growth as well as historically low spending in Hispanic advertising by large corporations make the industry resilient in times of economic uncertainty.
One of the panelists at AHAA, Staci Covkin, senior vice president, Consumer and Shopper Insights Group at IRI, highlighted that Hispanic purchasing power is projected to increase by 9 percent each year and will be at least $1.2 trillion by 2010. Covkin noted that it is vital for the CPG (Consumer Packaged Goods) industry to understand the factors that are driving growth in this consumer segment, which is not an easy task when considering the complexity of the Hispanic population in terms of acculturation, language preference, and attitudes.
Another panel called “What happens when you hit 'print'” examined the role of print media. The panel consisted of Filiberto Fernandez, publisher of Casa y Hogar, Jaime Gamboa, president of Los Angeles regional magazine Tu Ciudad, and John Paton CEO of ImpreMedia. John Paton and Filiberto Fernandez concluded that print media should be measured by reach (not circulation); the same way that audiovisual media is measured by advertisers. “No one asks how many television sets a program is broadcasted to” Casa y Hogar’s Fernandez noted.
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