The Importance of Hispanics

Now accounting for one in eight Americans, Hispanics will make up an increasingly large proportion of the American population as the 21st century progresses. According to The U.S. Hispanic Market, a new market research report published by Packaged Facts, the Hispanic population grew more than four times as fast as the US population as a whole between 1990 and 2000.

Now accounting for one in eight Americans, Hispanics will make up an increasingly large proportion of the American population as the 21st century progresses. According to The U.S. Hispanic Market, a new market research report published by Packaged Facts, the Hispanic population grew more than four times as fast as the US population as a whole between 1990 and 2000.

Hispanic consumers are now a driving force in the largest markets in the US as marketers increasingly focus on the segment as it has grown both in size and in wealth.

According to The U.S. Hispanic Market, more than one third of married Hispanics have a household income that exceeds US$50,000, a fact that indicates the growing affluence of this population. Also pointing to increased spending power within the segment is the 47.4% increase from 1994 to 1999 in expenditures by Hispanic consumers, expected to reach US$300 billion by 2006.

The U.S. Hispanic Market delivers demographic profiles of the Hispanic population, consumer and shopping behaviour, educational and employment patterns, as well as strategies for marketing and advertising to Hispanics, and case studies of successful campaigns.

According to Meg Hargreaves, VP of Research Publishing for MarketResearch.com, younger age groups control a larger share of income and buying power in the Hispanic market than in the general market. "Hispanics aged 15 to 34 bring in 37% of the total aggregate income of the Hispanic population. This same age group brings in only 21% of the non-Hispanic white population's aggregate income -- a fact that should speak volumes to those marketing to this demographic."

For further information, visit www.marketresearch.com

All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.