Hispanic Group Study shows Latino Consumer Trends
Hispanic Group Reveals Latinos Are “Super Consumers” and Shares New Insights on Purchasing Power in the U.S.
MIAMI, FL–(Marketwire – Feb 1, 2012) – Hispanic Group, an independent, minority-owned agency that specializes in customized communications solutions across all disciplines of advertising, traditional, digital and social media, branded content, direct response services and experiential marketing to the varied and fast-growing segments of the Hispanic population, today revealed insights on Latino consumers in the U.S. based on data crunched and segmented from the 2010 U.S. census report on Hispanics.
According to Hispanic Group, Latinos living in the U.S. are “super consumers,” surpassing their non-Spanish speaking counterparts in purchasing across numerous categories. For example, Hispanics buy nine times more beverages — such as energy and sports drinks — than the general market.
This remarkable purchasing trend is pivotal for advertising and marketing campaigns that target Hispanic consumers. Hispanic Group takes it even further with its approach to crafting meaningful messages to reach Latinos, centered on the concept of ultrasegmentation.
The theory of ultrasegmentation, coined by Hispanic Group, consists on filtering and drilling down demographic information on Hispanics in the U.S. to offer customized advertising solutions that garner maximum reach and greater frequency. It is becoming particularly useful at the present, due to the vast growth rate of the Hispanic population in the last decade.
“We´ve been working with the Hispanic population for the last ten years and although there has been tremendous growth and a demographic shift, we know firsthand that an Argentine will not be a regular customer for tacos and a Mexican will not be a fan of a Colombian soccer team,” said Jose Luis Valderrama, President and Founder of Hispanic Group.
It is that pioneering approach that has garnered some very insightful facts on Hispanics living in the U.S., including:
- Approximately 56% of the growth of the United States population in the last decade can be attributed to Hispanics.
- Over 1 million Hispanics are born in U.S. each year. That´s around 177 Hispanics born per hour
- Births have overtaken immigration. In the last decade, the Mexican-American population grew by 7.2 million as a result of births and 4.2 million as a result of new immigrant arrivals.
- Guatemalans, Hondurans, Salvadorans, Argentines, Bolivians, Ecuadorians, Paraguayans, Peruvians, Uruguayans and Venezuelans have all doubled their population in the United States in the last ten years.
- There are estimated to be 1,070,558 Puerto Ricans living in New York City, which is approximately 2.8 times more than those living in San Juan.
- 90% of the growth of the state of Illinois was caused by Hispanics.
- José is the second most popular name among all newborns in Texas.
- Hispanics are the biggest texters and average more than 33% more voice minutes used per month than non-Hispanics.
- Salsa — arguably taken mainstream in the U.S. by Hispanics — currently outsells ketchup by approximately $280 million. The salsa market in the U.S. is worth $764 million, while the ketchup market is worth $481 million.
“Just because we all speak Spanish doesn´t mean there is a cookie-cutter formula to reaching Hispanic consumers. For us, the Hispanic market is really a varied group of markets, which we can segment it to build stronger brand awareness and loyalty between our clients and their consumers,” concluded Valderrama.