Why are Hispanics Important to your Business?
Hispanics are brand loyal.
When Hispanics are convinced that a product or service is good for them and their families, the result will be referrals and word-of-mouth endorsements to friends and family for years to come.
Hispanics are motivated.
Hispanics are hard-working and are in search of the American Dream.
They come from a culture of merchants and are in search of new opportunities.
Hispanics are ready to spend.
Hispanic consumption is rapidly increasing and out-pacing other ethnic groups.
Hispanic spending patterns already help determine the success or failure of many youth-oriented products and services.1
They typically have larger families.
Hispanic households are larger than non-Hispanic households (3.3) persons per household and have twice as many children under 18. 1
On average Hispanic women give birth to just over three children. In comparison, African American women are projected to have an average of 2.15 children, and for Anglo women the number is 1.86. 2
Hispanics spend more on groceries, furniture, clothing, footware, gasoline, and phone services.3
In general, the retail market has seen an increase in Hispanic purchasing over the course of the last decade, and that trend will continue far into the future.
1. US Census Bureau
2. Pew Hispanic Center tabulations for the National Center for Health
Statisticsʼ 2006 Natality Public Use File and the Census
Bureauʼs 2006 American Community Survey
3. Source: Selig Center for Economic Growth. The Multicultural Economy 1990 – 2013.
