Thursday, May 3, 2012

Do you want a piece of $1 trillion?

If you haven’t thought about how your brand is viewed by the Hispanic-American market, you probably should. Otherwise, you may not have seen a share of the $1.1 trillion spent in 2011. According to a report by Nielsen on “The State of the Hispanic Consumer,” the buying power of this group will continue to have a greater impact on consumer trends.

From 2000-2011, the Hispanic population grew more than the rest of the entire United States population combined.

Economic growth is an important factor of this group. The portion of Hispanic households making $50,000 or more is also increasing at a greater rate than the rest of the country. Forty percent of the Hispanic population made $50,000 or more last year.

The age comparison was another noteworthy finding from Nielsen’s study. MediaPost reports that the Hispanic median age is 28 versus the 37 that represents the total of the U.S. With 60% of this market being under 35, it is clear that the Hispanic youth will hold a large chunk of the buying power in many categories.

Non-Hispanic whites and Hispanics absorb media differently. In general, Hispanics consume more new media and less traditional media than non-Hispanic whites. Watching video on the internet or on a mobile device rather than on a television was an identifiable habit of Hispanics. It is important for advertisers to discern that there will be more buying power among the Hispanic youth in the coming years.  Your message will better serve this audience if placed on a non-traditional media like mobile or internet.

Be sure to visit Ruth Burke & Associates’ blog to find the latest in media news and receive helpful tips to make your advertising campaign successful...

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