RESEARCH YOUR MARKET

It may cost you a little upfront, but research is critical to your success. Carefully study your market and its relationship with your product or services prior to launching a Hispanic initiative.

Understanding the Hispanic cultural nuances of a market before you start is important.

Don’t assume everyone who speaks Spanish is Mexican and everyone Asian is Chinese.

Source: 2004 Public Relations Tactics. Via ProQuest Information and Learning Company

Hispanic Demographics

Total U.S. Population: 295,292,828
Total Hispanic Population: 42,850,201
Hispanic Population as
a Percent of Total U.S.
Population:
14.51%


Demographics

42.9 million Hispanics in U.S.
14.51% of total U.S. market
By 2025, Hispanics will be 17% of the total US population
Hispanics are now the largest ethnic group in the United States
By 2050, the Hispanic population will triple and will comprise 25% of the population in the U.S.

10.5 million Hispanic households
Account for 10% of total U.S. households
Average 3.54 person per Hispanic household vs. 2.58 persons in non-Hispanic households

Hispanic Population 1990-2010

Younger population than US overall:
2/3 of Hispanic Population (27 million) are less than 35 years old.
40.4% are under the age of 20
By 2010, nearly 18 million Hispanics will
be in the 25-44 age group.

Hispanic Buying Power

Hispanic buying power will rise from $223 billion in 1990 to $686 billion in 2004, to $992 billion in 2009.

Household Growth

2000 thru 2005
Total households are forecasted to grow 5%, adding about 5 million new households
Hispanics are expected to grow 17%, resulting in roughly 1.5 million new households

1999 thru 2010
People of color accounted for nearly 40% of the growth in homeownership from 1994 to 1999, and will represent 30% of households by 2010.