Penetrate the Hispanic Market
The Hispanic market in the USA represents an enormous opportunity for your company to expand.
Here are the demographics of the Hispanic market.
- · There are 45.5 million Hispanics in the USA.
- · They spend $870 billion per year.
- · They are expected to spend $672 billion by 2005. (Standard & Poor’s DRI).
Other significant data about Hispanics:
- · They are 2.6 times more likely to buy an auto this year than non-Hispanics (Simmons National Consumer Survey 2001).
- · The majority of US Hispanic Households (65%) prefer Spanish over English (Nielsen 2002).
- · 96% of Hispanics from ages 18-34 speak Spanish at home (NHTI installed meter sample).
- · 64% of Hispanics say they would be more likely to purchase brands which are advertised in Spanish (Yankelovich).
- · 78% of Hispanics want to be marketed to as Hispanics (Yankelovich).
- · Even among bilingual Hispanics, Spanish-language commercials are 3.4 times more persuasive (Roslow Research).
- · Hispanics prefer, almost exclusively, Spanish-language TV (Nielsen).
- · Spanish format radio is by far the most popular among Hispanics (Arbitron “Hispanic Radio Today”).
- · Hispanics spend .69 hours a day reading newspapers.
- · Hispanics send .28 hours a day reading magazines (Strategy Research Consulting).
Your company’s growth strategy must include an intense focus on the Hispanic market. You must reach this unique and profitable group.
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