WATCH: Why High-End Companies Should Be Paying Attention To 'Upscale Hispanics'

Latinos are certainly becoming a powerful force for American economy. Remember when we first introduced you to "Upscale Hispanics"? You know, the population that could possibly help heal the middle class? Well, a recent Nielsen study showed that "Upscale Hispanics will make up 40 percent of Hispanic spending power by the end of 2013.

According to The Huffington Post, Luis Alvarado, a strategic advisor to REVOLVIS and an expert on Latino issues, says that high-end retailers will be missing out if they don't pay attention to this shift. Alvarado said companies who want to attract "Upscale Hispanics" must invest fully in their marketing.

"You can't just do it halfway," Alvarado said. "if you're going to communicate with the Latino community, you have to be respectful, you have to be thorough and you have to ensure that it's actually reaching the community in a very respectful way."