By 2015, the spending power of the Latino population is expected to exceed $1.3 trillion. According to U.S. census data, the Latino community’s potential purchasing power is larger than all but fourteen countries worldwide.

This growing consumer potential are focing traditional retailers across all platrforms to reevaluate their current business models in order to attract Latino consumers across various markets. With these needs in mind, the International Council of Shopping Centers is hosting its second annual Hispanic Markets National Conference in Los Angeles on Wednesday and Thursday.

The business opportunities are endless, but only if you know whom to hire, what to sell and where to target,” states Chiqui Cartagena, a Hispanic marketing expert and a keynote speaker at the conference.

Jorge Lizan, vice president of business development for ICSC, is one of the organizers of the Hispanic retail conference. He spoke to the Register last week focusing on Latino retail trends and how they are playing out in Southern California.

In only its second year, the conference already boasts 400 attendees. Lizan highlights that the attendees are not necessarily Latino or Hispanic. Her remains adamant that the programs “is devoted to anybody involved in the shopping center industry that wants to cater to anyone involved in these communities.” Guests ranges from local to national retailers, with name-brand names such as Gap in attendance, showing the vast interest in Hispanic markets nationwide. Lizan points out the importance of retailers understanding demographics and the nuances within the Latino community in order to best cater to the needs of these consumers.

When asked about previous mistakes retailers have made in regards to Hispanic consumer outreach, Lizan says, “In the past, they thought including signs in Spanish were enough. That’s not enough. Retailers that have a strong presence in certain region might think they can use the same type of message or same advertising and same layout, but it is not the case.”

There are also other ways Latino businesses have re-shaped the way non-Latinos think to consume some products. When considering the importance of fresh produce, Lizam points out the interesting value proposition of Latino markets such as Superior and Northgate to traditional supermarkets.

He also states that research is imperative and highlights how companies, such as Walmart and Target, who have remained active internationally in Hispanic markets know how to make customers happy.

The Hispanic conference is open to ICSC members and non-members. For registration information, go to icsc.org.