HISPANIC PURCHASING POWER GROW'S
Kmart, others work to reach group with commercials, clothing.

By Detroit News staff and wire reports
Jose Aramburo Jr. is part of an increasingly important element of the American economic machine. He’s Hispanic, an ethnic group wielding nearly $700 billion worth of buying power nationally this year.

From soda ads and clothing commercials to Spanish-language Web sites and commercial marketing campaigns targeting Hispanics, corporate America has jumped on the Hispanic bandwagon in the hope of tapping into the Latino cash flow.

From 1994 to 2004, U.S. Hispanic purchasing power grew at a compound annual rate of 7.5 percent, compared with 2.8 percent for total U.S. disposable income, according to HispanTelligence, a research firm operated by Hispanic Business Inc. That purchasing power is projected to reach $1 trillion by 2010.

The extra attempts by corporate America to reach the Hispanic market appeals to Judith Olivarria, 25, a customer service phone operator who works in Tucson, Ariz. Spanish is her first language and although she’s fluent in English, she’s more likely to buy goods promoted in her native tongue, she said.

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