Mucho Buying Power
So, what should you know about the U.S. Hispanic market?
Well, two things, to begin with.
We’re the fastest-growing minority group in the country.
(50 million — and counting.)
And our buying power is about to outstrip that of every other minority group in the country.
(A projected $1 trillion by 2010 — up from close to $800 billion since just 2006.)
Interesting data point, yes?
Here’s another.
The number of Hispanic households with incomes over $100,000 a year is also growing.
More than twice as fast as the general population.
(And it was already up to 1.3 million households in 2005 — almost 10% of the 13.4 million Hispanic households in the nation at that time.)
What about the U.S. non-Hispanic white and African-American populations?
Well, their growth has leveled off.
And the members of both groups are aging.
As the Baby Boomers trek towards retirement, guess who’s filling in behind them.
Right.
Young Latinos.
Who are entering their highest earning years.
And that means opportunity.
For advertisers willing to seize it.
:: :: ::
Next time we’ll talk about how Latinos spend their money.
And about why you should be looking to serve that market.
Stay tuned.
*U.S. Census Current Population Survey 2006.
