Rodriguez, Candace Margaret

Description

The Hispanic market is a fast growing demographic that has begun to drastically reshape the population composition of the United States. Many unique and different cultures and identities are represented under the label, Hispanic." Many companies have started l recognizing the value and importance of the Hispanic demographic. Along with the rising Hispanic population, Millennials are becoming an increasingly significant market. Hispanics have a lower median age, 25.4, than both African Americans and Caucasians in the United States and play a vital role as members of the Millennial generation. Hispanic Millennials are a market segment that is often overlooked. A few companies in the wine industry have recently started to pay attention to this segment; however, no company has gained significant market share and many companies still do not recognize the importance and profitability that lies in the Hispanic community, and more specifically, within the Hispanic Millennial segment. This study explores cuirent consumption habits and motives of Hispanics and their attitudes towards wine consumption. The study also analyzes the wine industry and investigates how it is cuirently catering to the Hispanic community and the steps that it could be doing to better address Hispanic consumer needs. Secondary research about the wine industry illustrated that the industry has had very steady growth, seventeen consecutive years. Secondary research also revealed that Hispanic Millennials are a fairly untouched segment within the wine industry. Primaiy research included both qualitative in-depth interviews and quantitative surveys, and 5 exposed that Hispanic consumers are willing to consume...

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