Hispanic Market Facts
Here are some “facts” about the U.S. Hispanic Market:
- The Hispanic population is expected to account for 44% of the nation’s population growth from 2000 to 2020 and 62% from 2020 to 2050. By 2050, the nation’s Hispanic population is expected to reach 96.5 million. The United States has the second highest Hispanic population in the world.
- The nation’s 44 million-strong Hispanic population is young, with a median age of 29.5.
- The #1 priority of the Hispanic family is the education of their children.
- The number of Hispanic-owned businesses in the U.S. increased 78% from 1987 to 2000. That compared to a rate of 26% for all U.S. businesses. Hispanic women own 39% of all women-owned firms in the US.
- Average disposable income per household for the Hispanic population last year was $56,431. In major cities such as LA, Chicago and Dallas, it was over $70,000.
- Total consumer spending by Hispanics was $531 billion last year. This represented 81% of the national average.
- From 2002 to 2020, the report projects personal consumption spending by Hispanics to increase at an average annual rate of 9.1%, “far exceeding the national growth rate of 6%.” The US Hispanic annual disposable income is larger than the annual GNP of Mexico, Brazil and Spain.
Articles
Ross Fadner - HispanicBusiness.com
Like the population at large, Hispanic Americans are beginning to mirror the heavy Internet usage patterns of average online users, a yearlong analysis released Wednesday by comScore Media Metrix has found.
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MINORITY BUYING POWER EXPECTED TO RISE - August 25, 2003
By Steve Miller - THE WASHINGTON TIMES
Minority buying power in five years will triple what it was in 1990, indicating continuing major economic strides among blacks and Hispanics, according to a new study from the University of Georgia.
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Hispanic Purchasing Power Reaches $600 Billion - August 20, 2003
SANTA BARBARA, CA -- According to new estimates from HispanTelligence®, the research division of Hispanic Business Inc., publisher of Hispanic Business magazine, U.S. Hispanic purchasing power reached nearly $600 billion in the second quarter of 2003.
Click here for full story (HispanicBusiness.com website)
Minority buying power to triple - August 15, 2003
Dianne Solis - The Dallas Morning News
Most dramatic will be the rise in Hispanic buying power: 356 percent from its 1990 level through 2008. In the past three years, Hispanic buying power increased nearly 30 percent -- more than any other U.S. group.
Click here for full story (The Miami Herald website)
Hispanics Optimistic About Future - August 5, 2003
New York -- (CBS) Hispanics in the U.S. hold both a strong desire to preserve their traditional culture and values, and optimism about their children’s opportunities in America.
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Five Things About the Hispanic Market - June 13, 2003
Luis Garcia -- What's all the fuss about the Hispanic Market? Sure it grew 58 percent in only 10 years so perhaps marketers suddenly see why $600 billion in buying power can be beneficial. But is that reason enough for the nation's marketers to suddenly go crazy over a niche population?
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Climbing Aboard the Latino Bandwagon - June 16, 2003
Anne D'Innocenzio, AP, NEW YORK --
Hallmark Cards is marketing 2,500 greeting cards for Hispanics, nearly double the number of a year ago, while Blockbuster has posted bilingual signs and stocked video rentals in Spanish in nearly a quarter of its stores. Kmart has a fashion line named for the Mexican pop star Thalia, a bid to woo young consumers. And Sears, Roebuck and Co. plans to unveil Lucy Pereda, a line of dressy women's clothing bearing the name of the Cuban-born TV lifestyle personality.
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Hispanics' Brand Loyalty is Marketers' Dream - April 7, 2003
ol-GAH-tay. That's how Colgate is pronounced in Latin America, where the familiar U.S. brand is often used as a generic word for toothpaste, whether or not it says Colgate on the tube. That's enviable brand recognition for Colgate not only in Latin America, but also in the United States where a growing tide of Latin immigrants brings all kinds of consumer loyalties from home.
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Merrill Lynch Expands Hispanic Focus - May 29, 2003
NEW YORK -- The wealth of affluent Hispanics is growing faster than that of the general community, notes Merrill Lynch. "The number of Hispanic households earning more than $100,000 a year grew 126 percent between 1991-2000, compared to 77 percent for the general American population," said Ms. Subha Barry, first vice president and head of Merrill Lynch's multicultural and diversified business development group.
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Barriers to health care: Hispanics find language, lack of insurance are double obstacles when families need treatment - March 13, 2003
ALEJANDRO BODIPO-MEMBA, FREE PRESS STAFF WRITER --
The rash covering 2-year-old Dariela Villamar's chest and back had her mother, Jocelyn Lobo, worried. But the first-time mom has no health insurance and speaks no English, and that means she has few places in metro Detroit where she can turn for help.
Click here for full story (Freep.com website)
Hispanic Opinion Tracker (HOT) Study Results - March 17, 2003
NEW YORK -- People en Espanol announced today the results of its 2002 Hispanic Opinion Tracker(tm) (HOT) Study -- a revealing study of Hispanic Americans across the nation.
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A NEW AMERICA EMERGES – by JD Moya
It goes without saying that a new America has emerged. Each day brings more news of the tremendous growth of the Hispanic population. Revised census data shows new figures of approximately 39 million Hispanics, up from the initial count of 35.3 million. Even more revealing as to the growth of this market are the following facts:
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