According to the US Census, the buying power of Hispanic in these 14 markets exceeds $200 Billion annually. Nationally, Hispanic buying power has doubled in the past 10 years, and is projected to double again by 2010. Hispanics also spend $30 more per food shopping trip than non-Hispanic, tend to perceive nationally advertised items as "best for my family" and have a stronger preference for these nationally advertised brands than non-Hispanic.
To address this unmet need, The Company launched its Hispanic Retail Sales Services division in early 2003 aimed specifically at the independently owned Hispanic stores and bodegas. Our service has begun across California and will expand within 6 months into the collective markets of TX, NM, and AZ where the Company will has existing operations. The Company intends on expanding the division into the balance of Hispanic markets across the U.S. within 18 months.
The Company has hired commission-only sales persons located within their respective sales territory. This Hispanic sales force sells hand-carried surveys on behalf of our manufacturer clients for pre-approved new/core items, promotional offers, and shippers through the manufacturer's existing network of traditional wholesalers and distributors to independent Hispanic stores in each market.
Projected Retail Coverage
We call on Hispanic stores and cooperative bodegas doing sales as low as $25K-$35K per week. An estimated market breakout is as follows: