Hispanic households will be served by a new shopping channel

Hispanic households will be served by a new shopping channel

A Delaware-based company wants to launch a new shopping platform specifically for a Spanish-speaking audience in order to tap into the significant purchasing power of the increasing U.S. Hispanic community.

Home Shopping Latino Inc. is developing Viva TeleCompras and its associated Web site, www.vivatelecompras.com, to fill a niche by reaching out to 7.9 million Hispanic homes, or more than 85 percent of all Hispanic households in the United States. Jewelry, electronics, household goods, and computers are among the items planned for sale. In addition, for higher-priced products, the network expects to sell its own credit card and payment plans.

Home Shopping Latino's vice president of investor relations, Greg Martin, said, "This would be an incredibly efficient way for Fortune 500 companies to showcase their goods in the Latino culture."

According to HispanTelligence, a research division of Hispanic Business Inc., Hispanic home ownership is at an all-time high and growing at four times the pace of overall home ownership in the United States. The three major markets of the United States, Puerto Rico, and Mexico have a combined TV household population of 29.5 million people and $700 billion in buying power, making them an appealing source of revenue for advertisers. In the next few years, this demand is expected to grow to nearly $1 trillion.

HispanTelligence also discovered that Hispanic job rates have risen to over 16% in the last five years, compared to only 2% overall in the United States. A rise in the number of Hispanic entrepreneurs and a greater interest in investing – both in real estate and stocks – has resulted in a significant increase in the Hispanic population's overall net worth.

Home Shopping Latino hopes that Viva TeleCompras will gain a loyal following among the Hispanic community by using a lively, fast-paced format with well-known Latino celebrities as hosts and featuring carefully planned promotions.

Viva TeleCompras will share the airwaves with HBO, National Geographic, and Cinemax, all of which are based in southern Florida. It will make its debut in the fall. – Noun

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