Financial Trends: Artists and the Hispanic Market

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Attention artists who do art shows in areas with a large Latin population! When you think about Hispanics at an art fair are you thinking about Geraldo or are you thinking about the service worker that you saw at the restaurant serving you?

Did you know that the reality is that Hispanic High Net Worth Individuals “form one of the most dynamic, fast-growing, and lucrative niches in the U.S. marketplace?

And, that “the last decade has witnessed a 126 percent increase in U.S. Hispanic households making more than $100,000 per year – a total net worth of half a trillion dollars. Five geographic markets – Los Angeles, New York City, Miami, Houston and Chicago – represent over 45 percent of the total affluent Hispanic market,” says Juan Tornoe, an expert marketer who serves the Latino community.

The Coconut Grove Arts Festival has seen a large increase in Hispanic attendance over the years. I remember one year when photographer Bill Coleman, hired a helper for the show there who spoke Spanish to help him with his sales. Somehow that sounds strange, doesn’t it? Something as American as a street art fair with an artist having a translator nearby. But, if you know Bill, you also know that he has always been a savvy marketer.

Visit Juan Tornoe’s blog to read more about this trend. October 5’s entry is full of details that should be useful to you when next you are in one of the cities mentioned above, say at Coconut Grove, Old Town, Bayou City, or Lincoln Center.

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