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HOLLYWOOD, Fla. -- In what it called "a major step" to help clients develop more complete insights about the burgeoning Hispanic community in the U.S., the Nielsen Co. said yesterday it would launch a national Homescan Hispanic Consumer Panel, with a research sample of 11,000 households. The announcement was made here at Nielsen's annual Consumer 360 Conference.
Nielsen also said it would expand its existing Homescan Hispanic Panel in Los Angeles from 1,500 to 2,500 households to provide fast-moving consumer goods (FMCG) manufacturers and retailers with more detailed views of the needs, preferences, and shopping habits of Hispanic consumers.
The Hispanic population is considered the fastest-growing demographic group in the U.S., and is expected to reach the 50 million mark by 2010, according to statistics cited by Nielsen. Critically important to the FMCG market space, the Hispanic population is expected to yield 18 percent of all U.S. households with children by 2010.
"With this expansion, the Homescan Hispanic Panel becomes the only available national Hispanic scanner-collected longitudinal purchase panel," said Tim Kregor, president, Nielsen Homescan & Spectra, North America. "Now marketers will be able to measure detailed purchase patterns within the Hispanic population, and translate those insights into brand specific plans. This $1 trillion market is an undeniable opportunity that demands unique strategies for all leading brands."
Panel expansion activity is already well underway and on track to be completed by Dec. 31, Nielsen said. The first client deliverables will be available by May 2008.
In addition to the Homescan Hispanic Panel, the company offers other products and services for the FMCG industry highlighting the Hispanic market, including the Spectra HispanIQ segmentation model and Target Track, which analyzes point-of-sale data from food, drug, and mass merchandise stores, quantifying sales among Hispanic and African-American shoppers.
The Nielsen Co. is a global information and media company, and the parent company of Progressive Grocer.