November 10, 2018

The Hispanic population in the U.S. continues to grow, especially among the younger cohorts. Over one-quarter of kids 6-11 are Hispanic, with 24% in the 12- 17 and 18-34 cohorts. Hispanics make up 17.6% of the total 6+ population in the United States.
    
Key finding:

  • Hispanic households account for $215.5 billion, or 10% of all the discretionary spending in the United States, but control much larger shares of non-essential spending in the West (16%) and South (12%) regions than in the Northeast (7%) and Midwest (5%) regions.
  •     Hispanic discretionary spending varies by market, with Hispanics controlling 48% of the total non-essential spending in the Miami market and 28% in Houston. Los Angeles ($38.9B) and New York ($16.3B) have the highest Hispanic discretionary spend, but these are 24% and 11% of the total market spending, respectively.
  •     Hispanic adults tend to have slightly more optimistic opinions about their personal finances than American adults in general, though they have some trepidation about the US economy overall recently.
  •     Slightly over one-half of Hispanic adults prefer to speak at least some Spanish; those born in the U.S. tend to skew more toward English or a mix of both languages.
  •     Advertising in Spanish matters to all Hispanics, even those who are English dominant, and can drive purchase decisions and brand loyalty.
  •     Hispanics’ use of digital media technology continues to grow; digital tablet and mobile phone usage are up 70% and 7%, respectively.
  •     Hispanics are connected via their mobile phone 24/7/365; at any hour of the day or night, at least 20% are using their cell for social networking, with messaging and websites close behind.

To download report CLICK HERE.

Courtesy of Simmons Research, source of report.


 

 

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