Cingular and Verizon Communications Inc. (VZ) are just two of the many technology companies, including cell phone companies, that are targeting the young, tech-savvy Hispanic population--43 million strong and the fastest-growing minority group in the U.S.
Those numbers will translate to $1 trillion in buying power by the year 2010. Many companies have foreseen this and are offering Spanish-language customer service and Web sites.
The Latino population used more voice minutes in 2005, 979, than Asians and Pacific Islanders and whites who used 845 and 632 minutes respectively. The number one group of voice minute users were blacks.
Verizon has made efforts to reach this market by sponsoring the Latin Grammys coming up on Nov. 2. They have also created "Latino street teams" that go nationwide to events, concerts, and street fairs promoting its products and services, according to this NYTimes.com article.
AT&T Inc. (T) and BellSouth Corp. (BLS) owned Cingular is converting signs, pamphlets and other information in about 420 stores nationwide to include both English and Spanish.
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