HANDS ON - Editor's Letter
Diverse Demographics

Every so often, we focus on a particular demographic. In June, it was kids. In December, it will be boomers. And, this month, we take a look at the explosive growth of the U.S. Hispanic population. Why segment your patient base? Because no two groups—whether they're defined by age, buying power, or ethnicity—respond to the same motivators and resonate to the same messages. So, any hope of being all things to all people simply won't play anymore. Not in Peoria. Not anywhere.

Take the U.S. Hispanic population, for example. According to the just-released HOT (Hispanic Opinion Tracker) survey conducted by People en Español, "Hispanic consumers are more likely to go shopping and much less likely to use credit cards than their general market counterparts."

In fact, only about 15 percent use credit cards, compared with 40 percent of the general population. And, as People en Español publisher Jackie Hernandez Fallous told AdAge.com, shopping is a passion. In the last 12 months, those surveyed spent 40 percent more on clothes and accessories than did the average consumer.

What drove those purchases? Hispanics, explains Fallous, "are much more impacted than the general population by advertising and marketing. They buy because of a product's image or the ads or because something is trendy and new."

The bottom line? Your patient base is changing, and so are the motivators that drive them into—or away from—your practice.

P.S. On p. 48, we begin our three-part series on valuing, buying, and selling a practice. It's as subject you've asked us to write about, and we hope you'll keep these articles as a ready resource. Please send your feedback to ebeditor@eyecarebusiness.com.