The steady growth of the U.S. Hispanic population has caught the attention of the Latin American food and beverage industry. The United States is the second largest Spanish speaking population in the world and represent a sizable opportunity for smaller, more localized Latin American brands to engage with a large pool of consumers more likely to try their products. Successful brands like Bimbo and Novamex have paved the way for other Latin American food and beverage companies aspiring to take up residence in the U.S.
But for as many high-profile success stories there are of Latin American brands successfully entering the U.S. Hispanic market, there are many more stories of failures that don’t make headlines. Abasto, the leading platform for Hispanic entrepreneurs in the food industry, knows the false sense of confidence Latin American food brands have when entering the U.S. Hispanic market firsthand.
As such, ThinkNow has partnered with Abasto to conduct a first of its kind study to delve into how U.S. Hispanics view Latin American food brands while also deconstructing what “authenticity” means for U.S. Hispanics. Our goal is to give Latin American food and beverage brands deeper insight into U.S. Hispanic behavior as it relates to authenticity and provide direction on how to better position existing products more strategically.