WASHINGTON, May 14, 2013 (GLOBE NEWSWIRE) -- The United States Hispanic Chamber of Commerce (USHCC) commends Walmart's record on multicultural ad spending. The retail leader plans to double its diversity ad spending as part of an unprecedented initiative to expand the company's multicultural marketing reach.
With more than 50 million Hispanics living in the United States and a collective purchasing power expected to exceed $1.5 trillion by 2015, the country's top corporations have placed increased emphasis on multicultural marketing programs. Walmart leads all retailers with upwards of $65 million spending on Hispanic-marketing, each year.
"It comes as no surprise that Walmart is regarded as an industry leader in multicultural marketing and advertising. The company is a true pioneer in reaching Hispanic consumers," said USHCC President & CEO Javier Palomarez. "Studies and history have shown that business growth and success comes to those most adept at serving the Hispanic market, as evidenced by Walmart's ad campaigns. The USHCC applauds those firms that understand the importance of the Hispanic market - not only as a profitable consumer segment, but also as valuable source of human capital and strategic supply chain."
According to a recent study by Information Resources, Inc. (IRI) of Consumer Packaged Goods (CPG) companies and retailers, Walmart was one of seven companies named "best in class" at driving revenue growth through their leadership in the Hispanic market. Evidence of Walmart's deep understanding of the power of its multicultural customer base, as well as its commitment to diversity and inclusion, was highlighted during the Association of Hispanic Advertising Agencies' (AHAA) annual conference, held earlier in the month in Miami, Florida. Walmart was the recipient of the first-ever Marketer Of The Year Award, given by AHAA, for the company's groundbreaking ad campaigns targeting Hispanic consumers.
"As part of our mission to expand our scope into all aspects of marketing, selecting a marketer of the year became a strategic imperative for AHAA's Board of Directors," said Roberto Orci, Chair of AHAA and CEO of Acento Advertising. "Walmart was a standout in all categories, and they continue to pave the way in multicultural marketing. The bar has been set quite high for future nominees, and we hope other brands take notice and step up their efforts."
Lopez Negrete Communications, one of the nation's largest Hispanic-owned and operated full-service marketing agency and a USHCC Hispanic Business Enterprise (HBE) member, began their relationship with Walmart in 1995. For 18 years, Lopez Negrete Communications has led Walmart's Hispanic marketing efforts, offering a full range of services in the marketing, advertising and creative realm. After 18 years, Walmart has become one of the agency's larger clients and one of the most tenured in the industry. Other clients served by Lopez Negrete through its Houston and Los Angeles offices are Verizon Telecom, Bank of America, Kraft Foods, Dr Pepper Snapple Group and Chrysler, among others.
About the USHCC
Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of over 3 million Hispanic-owned businesses across the United States that contribute in excess of $465 billion to the American economy each year. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. Follow us on Twitter @USHCC.