According to The U.S. Hispanic Market, a new market research report published by Packaged Facts and released by MarketResearch.com, the Hispanic population grew more than four times as fast as the population as a whole between 1990 and 2000.
With Hispanic consumers now a driving force in the largest markets in the country, marketers in the United States have increasingly focused on Hispanics as the demographic has grown both in size and in wealth.
The report, released in early September, indicated that more than one third of married Hispanics have a household income that exceeds $50,000, a fact that indicates the growing affluence of this population. Also pointing to increased spending power within the demographic was the 47.4% increase from 1994 to 1999 in expenditures by Hispanic consumer units.
These and other factors contribute to a potentially influential future for a population who's buying power expected to reach $300 billion by 2006.
According to Meg Har-greaves, VP of Research Publishing for MarketRe-search.com, younger age groups control a larger share of income and buying power in the Hispanic market than in the general market.
Hispanics ages 15 to 34 bring in 37% of the total aggregate income of the Hispanic population," Ms. Hargreaves stated. "This same age group brings in only 21% of the non-Hispanic white population's aggregate income a fact that should speak volumes to those marketing to this demographic."
The U.S. Hispanic Market delivers demographic profiles of the Hispanic population, consumer and shopping behavior, educational and employment patterns, as well as strategies for marketing and advertising to Hispanics, and case studies of successful campaigns. For more information on this report, or Packaged Facts, please log on to MarketResearch.com.