by Exequiela Goldini

Stats and facts

44.3 million

The estimated Hispanic population of the United States as of July 1, 2006, making people of Hispanic origin the nation¸s largest ethnic or race minority. Hispanics constituted 15 percent of the nation's total population. (This estimate does not include the 3.9 million residents of Puerto Rico.) Source: US Censu Bureau

The Hispanic/Latino Market

The Hispanic market is today the most rapidly expanding market in the United States. Hispanic consumers have become a driving force in the largest national markets, including southern and northern California, New York, Chicago, Florida, Texas, and others.

It is estimated that by 2050, there will be 56 million Hispanics/Latinos; by 2050, 30% of the entire U.S. population will be Hispanic.

From 2002 to 2003, the purchasing power of Hispanics/Latinos climbed more than 11% to $653 billion. By 2007, it will top $926 billion, according to the University of Georgia´s Selig Center for Economic Growth. The estimated 8.7% compound annual growth from 2000-2007 is 80% greater than that of the rest of the U.S. population.

Some of the top advertisers in the Hispanic/Latino market by industry are automotive, food and beverage, personal care and telecommunications.

It is estimated that by 2050, there will be 56 million Hispanics/Latinos; by 2050, 30% of the entire U.S. population will be Hispanic.

Nearly 40% purchased a car in 2001 and consulted an average of 4.2 sources.

They spend 23% more on groceries than the average American household per year

Hispanics/Latinos spend $21.3 billion on local, long-distance, wireless and Internet services.

They are a huge driver of health and beauty aid sales $1.6 billion in mass stores.

Hispanics live in larger households with more kids

Family Households with Five or More People by Detailed
Hispanic Origin: 2002
In percent. Based in origin of householder. Source: US Census Bureau

Language Preference

For years marketers have been focusing on whether Hispanic consumers are acculturating vs. assimilating. We are beginning to see a new phenomenon occurring among Hispanics in the U.S.: Retro-Acculturation. With the rapidly growing number of Hispanics in the U.S., many Spanish speaking consumers are increasingly holding on to their language and customs. In many cities throughout the U.S., Spanish dominant consumers are able to live and work without having to learn English or give up their culture and traditions.
46% of Hispanics are Spanish-dominant speakers
23% are bilingual
63% speak Spanish at home
60% of Hispanics prefer to make buying decisions in Spanish.