NEW YORK — It was only a matter of time before a Hispanic-centric OTC product with roots in South America started making its way toward the top of consumer packaged goods sales lists. Bristol-Myers Squibb de Mexico's Sal de Uvas Picot is the third-largest liquid/powder antacid brand on the market today for the 12 weeks ended April 21. And while its $1.2 million base — across total U.S. multi-outlets, data courtesy IRI — is only growing at a mid-single digit rate, you can expect Hispanic-centric remedies to continue to climb onto any best-seller list.
That's especially true with antacids, which are heavily indexed among Hispanic shoppers.
Hispanics, as a group, spend nearly 8% more on CPGs than any other population, according to IRI research. Hispanic shoppers also are more brand-loyal and gravitate toward those retailers and products that actively engage them in their native dialect, such as through store signage or products like Picot that originate from south of the border — in this case Mexico.
"Establishing and building strong brand relationships with these shoppers early in the acculturation process is key," suggested an IRI report on Hispanic marketing. "With more than three-quarters of unacculturated Hispanics consistently preferring to purchase the same brands,
investing the time, money and effort necessary to break into the Hispanic shopping basket ... often will provide long-standing rewards."