The Growing Hispanic Market
The Hispanic community in America is the largest and fastest growing community. It’s very diverse; not only racially,
but also culturally. Even though the majority of Hispanics come from countries where the first language is Spanish,
that doesn’t mean that their cultural identities are the same. Hispanics from Central America have different cultural
identities than the Hispanic from South America and often take offense to a blind comparison.
Unfortunately, here in the United States, many people assume that all Hispanics are the same, that they share the
same social status, educational background, or religion. On the contrary, Hispanics are a very complex community, a
community that is becoming a tremendous economic force and a new frontier for all the business that want to reach a
market with over 44.3 million people. The income level, and population increase is also faster among Hispanics than
any other minority group in the United States. Three compounding factors to consider.
Because of these facts, and others, marketers, retailers and manufactures are reevaluating their strategies to tap into
this market and take advantage of it. The Hispanic buying power has tripled to more than $740 billion in the last seven
years and one third of all Hispanic households earn more than $50,000 a year. However, some others still cannot
understand the importance of the Hispanic market and the effect that the Hispanic community will have on the future of
most American business. Look around at advertising, and production for Hispanic goods, and it’s easy to see it’s
nearly untapped when comparison to its size of other markets.
According to the US Census Bureau, Hispanics constituted 15% of the nation’s total population, and about one of
every two people added to the U.S. Population between July 1, 2005, and July 1, 2006 was Hispanic. The Hispanic
community is growing at a rate of 58% compare to general population and by the year 2020 Hispanics are expected to
account for 20 percent of all U.S. consumers.
Hispanics are becoming an important part in American Economy. Many people view Hispanics as people that occupy
farms or production facilities. However, in reality, most of the Hispanic immigrants are business entrepreneurs, and
according to the U.S. Census Bureau between 1997 and 2002, the rate of growth among Hispanic Businesses was
31% compared with 10%, the national average for all businesses.
Annually, Hispanics spend more than non-Hispanic white families on appliances, furniture, groceries, housing,
shoes, telephone services, restaurant meals, and more. The Hispanics are proud of their culture and they are
extremely loyal consumers! Loyalty is a big deal for Hispanics, and a brand loyalty will reward manufactures offering
products that appeal to their needs. If you are a business that wants to achieve and sustain a growth, Latino Public
Relations can help you reach the Hispanic audience.
but also culturally. Even though the majority of Hispanics come from countries where the first language is Spanish,
that doesn’t mean that their cultural identities are the same. Hispanics from Central America have different cultural
identities than the Hispanic from South America and often take offense to a blind comparison.
Unfortunately, here in the United States, many people assume that all Hispanics are the same, that they share the
same social status, educational background, or religion. On the contrary, Hispanics are a very complex community, a
community that is becoming a tremendous economic force and a new frontier for all the business that want to reach a
market with over 44.3 million people. The income level, and population increase is also faster among Hispanics than
any other minority group in the United States. Three compounding factors to consider.
Because of these facts, and others, marketers, retailers and manufactures are reevaluating their strategies to tap into
this market and take advantage of it. The Hispanic buying power has tripled to more than $740 billion in the last seven
years and one third of all Hispanic households earn more than $50,000 a year. However, some others still cannot
understand the importance of the Hispanic market and the effect that the Hispanic community will have on the future of
most American business. Look around at advertising, and production for Hispanic goods, and it’s easy to see it’s
nearly untapped when comparison to its size of other markets.
According to the US Census Bureau, Hispanics constituted 15% of the nation’s total population, and about one of
every two people added to the U.S. Population between July 1, 2005, and July 1, 2006 was Hispanic. The Hispanic
community is growing at a rate of 58% compare to general population and by the year 2020 Hispanics are expected to
account for 20 percent of all U.S. consumers.
Hispanics are becoming an important part in American Economy. Many people view Hispanics as people that occupy
farms or production facilities. However, in reality, most of the Hispanic immigrants are business entrepreneurs, and
according to the U.S. Census Bureau between 1997 and 2002, the rate of growth among Hispanic Businesses was
31% compared with 10%, the national average for all businesses.
Annually, Hispanics spend more than non-Hispanic white families on appliances, furniture, groceries, housing,
shoes, telephone services, restaurant meals, and more. The Hispanics are proud of their culture and they are
extremely loyal consumers! Loyalty is a big deal for Hispanics, and a brand loyalty will reward manufactures offering
products that appeal to their needs. If you are a business that wants to achieve and sustain a growth, Latino Public
Relations can help you reach the Hispanic audience.
