March 12, 2005

Hispanic-Owned Businesses Will Grow IP Telephony Technologies

Avaya Inc. presented findings of a study that examined the business characteristics of Hispanic-owned small and medium businesses in the United States.

“According to several studies conducted Hispanic-owned small and medium-sized businesses in the United States total approximately two million firms and generate more than $273 billion in revenues,” said Hernan Mariño, Avaya’s manager for the U.S. Hispanic and Latin American market, Small and Medium Business Solutions Group. “We wanted to do our own study to understand the needs and behaviors of this powerful economic force to better serve them with our communication solutions and empower them to embed communications technology in the fabric of their business operations. We found that Hispanic-owned business owners have the deeper understanding of the benefits of IP telephony technology than their counterparts, making them a critical market for Avaya, the global leader in IP innovations.”

Forecasts from the Avaya-sponsored research indicate that over the next 10 years the growth rate of Hispanic-owned businesses will be at almost three times the rate of overall U.S. firms. The company surveyed Hispanic owners of small and medium businesses in the largest Hispanic markets in the United States including California, Texas, Florida and New York. The sample categories represented included companies of: 1-10 employees, 11-20 employees, 21-50 employees and 51-100 employees. A total of 350 firms were surveyed.

Because of their intrinsic connection to Latin America and need for communications between the U.S. and the region, Hispanic-owned firms are outspending their non-Hispanic counterparts on communication systems and services. Businesses have significant expenditures for basic communication services such as continuous overseas calling, conferencing, faxing and emailing. “Beyond cost-savings, there is a tremendous opportunity for Hispanic-owned small and medium firms to make their people more productive, processes more intelligent, and customers more satisfied, by deploying IP-based communications systems,” said Marino.

Latinos at 05:07 PM

Hispanic Population Growth Trend 2003

Nearly half of the 9.4 million American residents added since 2000 has been Hispanic, the Census Bureau said. The Hispanic population growth was almost equal between immigrants and those already here. Second and third generation Hispanics accounted for 867,000 births over the most recent 2002-2003 report, compared to 662,000 immigrants arriving.

Latinos at 04:27 PM

February 18, 2005

Latino Jewelry Hispanic Study

Hispanic Consumers Will Spend $1.5 Billion on Fine Jewelry This Year
PASO ROBLES, Calif. (BUSINESS WIRE) There are 39 million Hispanic consumers in the US, and according to a recent online research study conducted by the Jewelry Consumer Opinion Council (JCOC) they are willing to spend large amounts of money on jewelry. The comprehensive study, entitled The Hispanic Jewelry Market in the USA: The Hidden Giant, brings to light the fact that the Hispanic jewelry market is an untapped market of tremendous potential. Latino Jewelry Hispanic Study

Almost 75 percent of respondents said they already own fine jewelry, and more than 45% of them will spend more than $500 on a fine jewelry purchase in the next twelve months. These numbers add up to one thing -- opportunity. The Hispanic market is the fastest growing consumer group in the country, and their jewelry-buying habits indicate that their love for fine jewelry will continue to fuel significant growth this year and in the future.

Not surprisingly, the study indicated that as income increases, the likelihood of fine jewelry ownership increases, although all income groups have high purchase intent across a wide variety of price points. The survey covers fine jewelry buying habits, attitudes and expectations, as well as where they shop, why they buy and how much they have spent and plan to spend -- all valuable information that can help the industry shape a strategy to reach this important and growing fine jewelry demographic group.

While the study reveals high interest in religious jewelry within the Hispanic community, it also indicates their strong desire for diamonds and fashion jewelry -- including their feelings on right-hand rings and three-stone diamond jewelry, as well as other cultural imperative gift occasions that currently remain largely unaddressed by the jewelry industry. With the continued expansion of this population segment into all geographic areas, it represents significant potential for all retailers.

The JCOC survey provides insight and understanding into the Hispanic fine jewelry consumer that retailers will need to create promotional and merchandising programs to target this group.

For full details of the survey, visit www.jcoc.info. The JCOC can provide custom research studies on a full range of jewelry topics, and can also be reached via email at info@mvimarketing.com.

The Jewelry Consumer Opinion Council (JCOC) was founded in 2001 with the mission of providing MVI Marketing Ltd. clients with fast, efficient, effective and powerful market intelligence about their jewelry products and their respective end use consumers. The JCOC is an Internet-based, niche market research service exclusive to the gem and jewelry industries. The JCOC is made up of a sampling panel of consumers throughout North America representing all ages, genders, income levels, buying categories and geographic regions. Each year, the JCOC presents a series of industry studies that focus on a topic of special interest to the gem and jewelry industries.

Latinos at 11:09 AM