whyhispanics

The sleeping giant has finally awakened!

		Hispanic-Americans now comprise 14.7% of the US population, numbering
		approximately 43.5 million or 1 of 7 U.S. residents. By 2050, 30% of the entire US population will be Hispanic.
		Hispanic-American buying power climbed to $686 billion dollars in 2004. It is
		expected to reach almost one trillion dollars in five years, the result of an unstoppable 59.5% rate of growth.
		Median income is more than $40,000.
		The Hispanic consumer profile is young and increasingly affluent. Median
		age for Hispanic (26.7 years) is nearly 10 years younger than the US average. By 2020 the teen market will balloon 62%, growing 6 times faster than the rest of the teen market
		Hispanic-Americans spend on average $32,735 versus $38,045 for all
		American consumers. They spend more than average on groceries, telephone services, furniture and apparel; about the same on restaurants, alcoholic beverages, utilities and fuels, household products and appliances, and electronic equipment.
		Hispanics have a passion for shopping, sampling and special advertising units.

The raw numbers attest to an explosive market in the making!

Sources: AHAA, U.S. Census, HOT Study, Yankelovich/Cheskin Hispanic Monitor

Read about Marketing to Hispanics