research is a leading market research firm specializing in the Hispanic/Latin
market. Research covers both the U.S. Hispanic market and the
international Latin American market.
work with clients of all sizes to
gather valuable information that enables them to better connect
with their market, communicate better, and sell more of their product
U.S. Hispanic market is dynamic
and expanding so effectively addressing it can make a substantial
contribution to your bottom line.
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Survey Design and Methodology for U.S. Hispanic Research
Size of the Market
The Hispanic market spent about ONE TRILLION DOLLARS in 2010. Do you know the percentage of your Hispanic client base? Rule of thumb, if it is about 20%, congratulations! If it is not, your opportunity is huge and growing! The Hispanic market is the largest growing population segment in the U.S.
In all categories, the Hispanic Market is just too big to ignore, from consumer products to luxury cars. Soon you will no longer hear statements such as: “If we have room in the budget, we will advertise in Spanish language media” or “just translate the commercials into Spanish”.
There is an important component among the Hispanic consumer that is different than the non-Hispanic consumer, and that is to understand their culture. The culture has several variables such as language, music, religion, food, and family values to name a few... The challenge for marketers is how to EFFECTIVELY communicate with the Hispanic market. This is a very dynamic market. Simply advertising in Spanish is only part of the solution; advertisers must also understand and appeal to the Hispanic culture. Many advertisers are using English language TV programs to advertise in “Spanglish” (sentences in English and Spanish combined). The majority of Hispanics, approximately 77% speak Spanish very well while 51% of Hispanics speak English very well. The reason I wrote this book is to provide the marketer with reliable market intelligence. For over 30 years, I have been studying, conversing with and interviewing Hispanic consumers through 3 generations of the U.S. Census and I have seen the growth trends. The U.S. has the second largest group of Spanish speaking consumers in the world just behind Mexico. If the U.S. Hispanic market were a country, based on population, it would be bigger than Colombia, Spain, or Argentina. In reference to income per capita, the U.S. has the highest Hispanic income compared to any other Spanish speaking country.
Growth of the Market
Hispanic market growth has exploded for two main reasons: immigration and the birth rate. 38% of Hispanics came to the U.S. within the last 10 years: 2000 to 2010. One of every four new born children in the U.S. is born into a Hispanic family. In 2011, more than half of the 50 million U.S. Hispanics were born in the U.S. to parents who were either legally or illegally in the country. It is projected that by the year 2040 the U.S. Hispanic population will reach 100 million.
The average age of the Hispanic population is 27 years old vs. 37 years old among the non-Hispanic population. The Hispanic youth, under the age of 24, are in the “digital age”. They aggressively approach the Internet. The Hispanic youth play a big role influencing older Hispanics, especially at home with family members. The Hispanic youth influences the selection of new technology at home including Cell phones, DVD’s, TV/Cable connection, computers, Internet connection, iPhones, Smart Phones, and other electronic devices. The Hispanic youth helps parents with brand selection. They help to set up electronic devices at home. They encourage parents to join Facebook, Twitter and other Social Media. They help to upload pictures to share with family members. They help connect the family to YouTube to be able to see videos featuring “Los Panchos”, “Javier Solis”, “Julio Iglesias”, “Rocio Durcal” so that older family members can listen to the type of music they enjoy the most. The Hispanic youth assists the family to set up emails to communicate with family members and friends all over the world.
Growth Projection of the Hispanic Market
The Hispanic market is growing faster than any other demographic segment in the United States. The following is the projection made by Meneses Research & Associates:
2020 64.1 millions
2030 80.2 millions
2040 97.6 millions
2050 127.0 millions