The US Census 2010 is expected to show a 32 percent spike in the population of Hispanics in the US since 2000, now totaling nearly 50 million people. Adweek looks at the growing influence they have in the marketplace.
Much of the growth comes from second-generation Hispanic Americans. They are also helping bridge the language barrier. According to research by Nielsen and Synovate, 93 percent of second-generation Hispanic Americans call themselves bilingual or English dominant. Hispanic youth are also among the country’s most tech savvy consumers. A report by Forrester found that 72 percent of 18-28 year old Hispanics consider technology important to them, compared to 44 percent of non-Hispanics surveyed
Adweek shows how growing numbers lead to growing affluence. Hispanics have the biggest cumulative discretionary annual income of any minority group, with an estimated $863 billion representing nearly 8 percent of total US discretionary income. According to the president of Spanish-language TV Univision, that figure makes Hispanic Americans the fifteenth largest consumer group in the world. While some companies are just recognizing the growing influence and affluence of Hispanics in the US, Adweek looks at tactics used by brands that have been targeting them for some time. Read more at Adweek.
