The Latino Brand is Everything
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Transcript of The Latino Brand is Everything
The Latino Brand is EverythingSol Trujillo for theLatino Leaders Magazine Luncheon101 Most Influential Latino Leaders“Breaking Through Frontiers”The Willard IntercontinentalWashington, D.C. October 29, 2014
The Rising Importance ofAmerica’s Large, Growing,
Youthful, Affluent & DispersedLatino Population
Hispanic Buying Power growing at the rate of $90 B per year...
Projected
Rapid Population Growth
Younger Hispanics Now Entering Workforce
High Level of Entrepreneurial Activity Strong Work Ethic
Increasing Educational AttainmentGrowing Per Capita Wealth
What Drives Hispanic Buying Power?
($ in billions)
Source: Selig Center for Economic Growth, 2010
1990 2000 2010 2015 $-
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$210 B
$499 B
$1.1 T
$1.7 T
Hispanics Lead New American Mainstream
The Real Dropout Rate for Latinos
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
6.6%
30 %
12 %
All Hispanic
Hispanic dropout rate has plummeted over the last 15 years…
It is often quoted that 50% of Latinos drop out of high school but that figure is wildly overstated – and the trend has been improving dramatically
Source: U.S. Department of Commerce, U.S. Census Bureau, Current Population Survey (CPS), October 1967 through 2012, prepared May 2013
49%
45%
Hispanic College Enrollment Passes Whites80.0%
70.0%
66.1%
60.0%
50.0%
40.0%
30.0%
…and college enrollment has skyrocketed since 200620.0%
10.0%
0.0%
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
White, N-H Black Asian Hispanic
Source: U.S. Census Bureau, Current Population Survey, 1967 to 2012. Data for the “Asian” category shown prior to 2003 consists of those identifying themselves as“Asian or Pacific Islanders”
Hispanic college enrollment has doubled since 2006 and grown more than 1.5x the rate of Hispanic population growth
35.8%
US Hispanic Purchasing Power (IMF, 2013)
China($13.3 Trillion)
United States($16.8 Trillion)
Brazil($2.4 T)
India ($5.0 T) Russia
($2.5 T)
US Hispanic
($1.7 T)
US Hispanic Growth Rate Beats BRICs
The US Hispanic population is growing faster than all the BRIC countries combined
US Hispanic
Brazil
Russia
China
India
4.19%
1.62%
1.34%
0.62%
0.12%
Average Population Growth per Year
GDP Per Capita: OECD, BRIC & Hispanics
GDP per capita as of 2010 (est.)
Source: World Bank, U.S. Census, Selig Center for Economic Growth and LDC Calculations
OECD Average: $34,673
BRIC Average:$3,927
Hispanic Average: $27,162
%
Growing Wealth is a MagnetProjected Growth by Age Group (2012-2017) Change in Spending at each
Age & Stage of Life31%Peak Spending
23%
1514%
11%9%
5%3% 2%
(1%)
46 - 50Family(8%)
(9%) 50+22 - 30Young
31 - 42YoungFamily
College Empty18 - 22 60+
Kids Nesters RetiredSingle Married18-22 23-30 31-42 46-50 50-59 60+
Hispanic Non-Hispanic
Source: Harry S. Dent, Jr., author of The Great Crash Ahead and editor of Boom & Bust and U.S. Census Bureau, Projections of the National Population, 2012
Hispanics Define the New RichHousehold Growth by Ethnicity (2000-2012)
Source: U.S. Census Bureau
Middle Income Upper-Middle Income Upper Income
49%
132%
214%
(-8%)
43%
116%
Hispanic Non-Hispanic
($35,000 - $74,999) ($75,000 - $149,999)
($150,000 and higher)
1990 2000 2010 2020
10.7
16.7
22.7
30.5
Hispanics are the Future Workforce
Source: U.S. Bureau of Labor Statistics, Employment Projections, 2010-20
(in millions)
(9%)
(12%)
(19%)
Projected(15%)
36% of new
workers
54% of new
workers
74% of new
workers
Still, Challenges PersistEspecially in the Leadership Pipeline
1.5% Fortune 1000
1.5% Fortune 1000
Source: Hispanic Association on Corporate Responsibility 2007 Corporate Governance Study; U.S. News & World Report; Alliance for Board Diversity Report, July 2011
3.7% Fortune 100 board seats are held by Hispanics
3.7% Fortune 100 board seats are held by Hispanics
3.0% Fortune 500
3.0% Fortune 500
Metric Example Value (2012) Current Value
BankingChairman or CEO, Top 10 banks by assets
N/A 0 0
Academic Institutions
President, top 50 undergraduate institutions
N/A 1 chancellorUniversity of Texas
0
Hollywood Studios
Chief / Head top 10 studios by box office revenue
N/A none none
Top Foundations
President and Trustees, top 10 foundations by assets
N/A1 president
Ford Foundation
5% trustees
05% trustees
Silicon Valley
Chairman or CEO, Top 10 tech companies by revenue
N/A 0 0
Fortune 100
CEO of Fortune 100 companies
George Paz (Express Scripts) 1 CEO 1 CEO
Source: Federal Reserve, U.S. News and World Report, School websites, Box Office Mojo, Studio websites, The Foundation Center, various Foundation websites, Fortune and The Wall Street Journal
Progress is Slow Despite Room at the Top
15
Myths About LatinosWidespread in the Media
1. Latinos are taking our jobs.2. Unauthorized workers are a burden on society.3. Unauthorized workers don’t pay taxes.4. Latinos are "different" from "regular Americans."5. Latino immigrants don't want to learn or speak
English.6. Latinos succeed in sports and entertainment, but
not as entrepreneurs or in business and professional services.
Exposure Occurs in Entertainment and Ads
Source: Market sizing assumptions based primarily on Nielsen ratings, assuming a three-hour primetime period from Monday – Thursday and approximately 12 viewer impressions per hour. Movies data based on MPAA “Theatrical Statistics for 2011”, U.S./Canada admissions. Network nightly news is assumed to occur for one half-hour on ABC, CBS and NBC only.
Networ
k
ente
rtain
men
t
Adver
tisem
ents
Networ
k ni
ghtly
new
s
Mov
ies
(in th
eate
r)
Fox
News
CNN /
MSN
BC
9,600
2,212
675 443 270 72
Millions of Weekly Viewer Impressions
Avg. Viewers
10,000,000 7,500,000 1,500,000 200,000
Younger generations are far more likely to believe that undocumented workers become tax paying citizens in the long-
run.• This difference underscores the change in attitudes towards Latinos over the course of the last 3 generations.
43
35
24
17
15
13
40
51
63
Baby Boomers
Generation X
Millennials
Undocumented immigrants in the long-run become productive citizens and pay their fair share of taxes
Undocumented immigrants cost the taxpayers too much by using government services like public education and medical services
Don’t Know
+11
+19
4651 50
47 4642
23 22 20
Close Latino friend
Familiarity Breeds RespectHaving just a few Latino acquaintances reduces the
power of negative attributes
Having just a few Latino acquaintances
more than doubles the likelihood of
disagreeing with the most damaging assertions about
Latinos
Disagreement with Negative AttributesShowing those who “strongly disagree” with top negative attributes about
Latinos,
+24 +24
+22
Undocumented Latinos Number Under 20%.But more than one-third of Americans believe, incorrectly,
that the number exceeds 40%
0-19% 20-39% 40-59% 60-79% 80-100% Don't know
19
28
18
13
6
16
5
22 21
27
17
8
28 28
13
17
2
12
GP Negative Towards Latinos Elites
Only 1 in 5 knows the correct percentage of Latinos who are here
illegally.
Conclusion1. The Brand is Everything.2. The Latino Brand Has Been Tarnished
While Latino Brand Assets Soar.3. Latinos Must Reframe and Reposition
Their Brand.4. Latinos Must Control Their Brand.
Thank YouSol Trujillo
www.soltrujillo.com