Are you ready to serve the diverse Hispanic consumer market?
It is a question we’ve asked in our now-concluded Hispanic Radio Podcast, and is now being posed to marketing and media professionals by Claritas.
A new 10-page report from the research company offers fresh details on the Hispanic market opportunity — including why Hispanic Households will spend $538,636 more than White American Households in their lifetime.
The Hispanic American Market Report: Understanding the New American Mainstream incorporates much of the research distributed for many years by the Miami-based entity formerly known as Geoscape, now a division of Claritas.
In what is officially “Part Three” of this ongoing report, Claritas says:
The face of America is changing, and multicultural consumers already represent the majority of the expected growth in the United States now and in the future.
This report identifies the Hispanic American segment’s population growth, household income and cumulative lifetime spending within key categories.
“Currently, more than 64 million Hispanics live in the United States, making this group the second fastest-growing population segment since 2000, with 83% growth,” Claritas says. “This is a group that marketers can’t afford to ignore.
Numbering over 64 million in 2019, Hispanics represent 19.5% of the U.S. population and are the second fastest-growing population segment since 2000.
At present, there are 133,211,770 multicultural Americans in the U.S. and they account for 37.5% of the U.S. population. In addition, Hispanics account for the largest multicultural segment at 19.5%, and are the second fastest growing ethic group since 2000, with 83% growth.
Further, since 2000, Hispanic Americans represent the second fastest growing ethnic group at 83%.
The report further delves into population trends and Hispanic population growth, and includes a geographical update on where the most Latinos live in the U.S.
According to Geoscape AMDS 2019 data, Hispanic population segments are concentrated in Los Angeles, New York, Houston, Miami, Dallas, Chicago and San Francisco.
Of course, many other areas is growing as well, with significant growth in Phoenix, San Antonio, Sacramento, and San Diego. On a percentage basis, very strong growth is seen in the southeastern states.
Household income information is also made available, as is social media use trends.
“In the past 30 days, Hispanic American adults have indexed higher than Whites and Blacks on all social media sites/apps except for LinkedIn,” Claritas finds. “Out of the top six social media sites/apps, Hispanic Americans indexed highest on Instagram and Snapchat and lowest on LinkedIn.”
On LinkedIn, more specifically, Hispanics are more than two times less likely than the average Asian household to have used LinkedIn in the past 30 days.
To download this report, please click here: https://www2.claritas.com/l/306121/2019-04-15/7r89f
MARK YOUR CALENDAR NOW FOR THE 2020 HISPANIC RADIO CONFERENCE, MARCH 25-26, INTERCONTINENTAL AT DORAL, MIAMI.
For full details and to register, visit http://www.hispanicradioconference.com