With their flourishing numbers in the U.S. and their love of fresh fruits and vegetables, members of the Hispanic / Latino community make ideal produce department customers. The U.S. Hispanic population has skyrocketed to over 50 million consumers and their numbers have expanded well beyond the Southwest and Florida.
New York is home to 2.3 million Hispanics who account for nearly 30% of its residents, as of 2010. New York’s Hispanic population is more diverse than that in other large cities: the largest share is Puerto Ricans (34%), followed by Dominicans (25%). In LA and Chicago, the largest share is Mexicans (69% and 73%, respectively).
Hispanic population in the U.S. is growing at three times the rate of the overall population. A number like that is a marketer’s dream. I have heard marketers frequently say, “A data-driven decision is always a good decision.” I don’t necessarily agree with that all the time – insights, innovation, and a healthy measure of gut certainly play a large role in my own marketing decisions, along with paying attention to regular data-oriented updates on what’s happening in Denny’s demographics and market segments.
The Hispanic & Latino population in the U.S. is growing at 3x the rate of non-Hispanic whites and represent 35% of all population growth online in the U.S. (more than double their representation of the total population which is 16%). The chart below emphasized this. 32.2 million Hispanics are currently online. This will reach 42 million by 2015.
There’s a tendency in general market advertising to think of minority advertising as a way of ghettoizing an audience. But when it comes to the land of digital consumers, author Giovanni Rodriguez says the Latino segment is more of a high-end neighborhood. With roughly 10 percent of U.S. buying power, Latino marketing spend, he figures, should be around $36 billion. The number today, though, is only $5 billion.
Hispanics Account for More Than 50% of U.S Population Growth in Decade: Here Comes the Latino MarketDecember 14, 2011 6:53 pm Comments Off on Hispanics Account for More Than 50% of U.S Population Growth in Decade: Here Comes the Latino Market
In a demographic shift touching every corner of the U.S., affecting all those cultivate the Latino market, the Hispanic market and the Spanish speaking market, the Latino population grew faster than expected and accounted for more than half of the nation's growth over the past decade, with the group's increase driven by births and immigration. The Latino market certainly deserves greater attention than many businesses give it. This article underscores the value of this demographic, market and voting block now and as we move into the future.
"P&G announces the launch of “Orgullosa,” an initiative created to celebrate, empower, and fuel Latinas’ accomplishments and dreams. The initiative, which carries the name of the Spanish word for “proud”, has as its centerpiece Orgullosa.com, a virtual community through which Latinas can engage in a dialogue with one another that also provides them beauty, household, and lifestyle advice to simplify their lives.
"With the Census Bureau counting nearly 25 million Latin women in the United States, marketers and media companies have started getting excited about the potential to reach them. Tina Fineberg for The New York Times Michelle Herrera Mulligan, left, the editor of Cosmopolitan Latina, which will be introduced in May, with Donna Kalajian Lagani, right, the senior vice president and publishing director at Cosmopolitan. Michelle Herrera Mulligan, left, the editor of Cosmopolitan Latina, which will be introduced in May, with Donna Kalajian Lagani, right, the senior vice president and publishing director at Cosmopolitan.
Association of Hispanic Advertising Agencies says But 57% of Top 500 Advertisers Allocate Less Than 1% to Target Latinos Marketers who spend heavily on Hispanic media are seeing their revenue grow faster than those that don't, according to a new analysis by the Association of Hispanic Advertising Agencies. For advertisers who allocated 14.2%--the percentage of adults who are Hispanic in the U.S.—or more of their ad budgets to Hispanic marketing, that Hispanic allocation explains about half of the variance in their revenue growth over the last five years, the study found (www.ahaa.org).
"A market of 50 million people is hard to ignore," said Patricio Navia, a political science professor at New York University. "It makes a lot of sense for businesses to design strategies to gain entry to this market. At the same time, the increase in Latinos has a cost. The Latino population tends to have lower education levels than whites, and their average income tends to be lower."