The Nielsen Company has recently conducted a study to measure the amount of upscale Hispanics in the United States. The Association of Hispanic Advertising Agencies released the findings. To summarize, the upscale portion of the American Hispanic population is growing at a fast pace.
According to MediaPost, the study depicts the upscale population as Hispanics in households with an annual income between $50,000 and $100,000. To date, that subgroup is an estimated 15 million people, which translates to roughly three of 10 Hispanic homes. Or, in a broader context, this group is about 12% of all U.S. households. Nielsen further explains that about $500 billion of the total $1.3 trillion in Hispanic consumer spending is done by the upscale group, which is almost 40%. Researchers expect growth to about 18 million by 2015 and to 35 million by 2050.
From the study, it was ascertained that this group of individuals are typically bilingual. A little more than half speak most or all English the majority of the time, and also about 75% speak some Spanish. In addition, this group spends about 52% of the TV viewing time on Spanish-language networks and 48% on English-language networks.
In conclusion, this group within American consumers has the added bonus of being reachable in a variety of media platforms. It is the advertisers’ responsibility to acknowledge the growth of this group which will lead to the increased influence on the consumer culture as a whole.