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The Economic Impact of Hispanics on the U.S. Marketplace - US - June 2009

The economic impact of Hispanics is significant and growing. The Hispanic population is a diverse group with a varied set of spending behaviors, and for a skilled marketer not to make an attempt to understand it would be a mistake. Because Hispanics in the US come from such a variety of lifestyles and previous experiences, their purchasing behavior differs significantly from that of traditional US consumers and even among themselves. Knowing which segment of the Hispanic population a marketer’s products and message are best suited for will go a long way in reaching this fast growing section of the US market.

Readers of this report will learn:

  • Important demographics of the Hispanic consumer, including how varying levels of acculturation and income affect purchasing behaviors
  • An up to date account of the financial position of Hispanic consumers, including how spending behaviors have changed due to the current downturn in the economy
  • Insights into the significance of the young Hispanic community: why are they important and how can marketers reach them
  • What are the values that Hispanic consumers respond to, and how marketers can craft the right message to captivate this audience

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Table of contents

  1. Scope and Themes

    • What you need to know
      • Definition
        • Sources
          • Consumer survey data
            • Abbreviations and terms
              • Abbreviations
                • Terms
                • Executive Summary

                    • Hispanic purchasing power
                      • Financial position is strong and growing
                        • Unease in today’s economy is leading to cut-backs in spending
                          • Hispanics’ category expenditures
                            • Hispanic market share has increased significantly across all categories
                              • Hispanics with lower levels of acculturation overspend in certain categories
                                • Hispanics in the workforce
                                  • Hispanics working old and young
                                    • Construction industry is the dominant employer of Hispanics
                                      • Unemployment increasing most for Hispanics
                                        • Hispanics and money
                                          • Family over money
                                            • Optimistic yet careful
                                              • Understanding the consumer
                                                • Demographics
                                                  • Acculturation
                                                  • Insights and Opportunities

                                                    • Young Hispanics: Growing, working, spending
                                                      • Remittances and leakage: Plugging the gap
                                                        • Social networking drives Hispanic traffic online
                                                        • Inspire Insights

                                                            • Trend: Trading up, trading down, trading over
                                                              • What’s it about?
                                                                • What we’ve seen
                                                                  • Implications
                                                                    • Trend: That’s (Home) Entertainment!
                                                                      • What’s it about?
                                                                        • What we’ve seen
                                                                          • Specifics
                                                                            • Implications
                                                                            • Hispanic Purchasing Power

                                                                                • Hispanics financial data
                                                                                  • Hispanic purchasing power
                                                                                    • Figure 1: Purchasing power, by race/Hispanic origin, 2007
                                                                                  • U.S. household income distribution
                                                                                    • Figure 2: Median household income, by race and Hispanic origin of householder, 2007
                                                                                    • Figure 3: Household income distribution, by race and Hispanic origin of householder, 2007
                                                                                  • Hispanic income levels
                                                                                    • Figure 4: Largest Hispanic markets, by Hispanic disposable income, 2005
                                                                                  • Hispanics’ economic growth
                                                                                    • Hispanics and the economy
                                                                                      • Hispanics in today’s economy
                                                                                        • Figure 5: Hispanics now looking for deals/sales more than they did a year ago, by household income, December 2008
                                                                                      • Hispanics’ economic outlook
                                                                                        • Figure 6: Hispanics who describe the U.S. as a land of opportunity, by household income, December 2008
                                                                                      • Hispanics by income
                                                                                        • Figure 7: Hispanic attitudes about personal finances, by household income, December 2008
                                                                                      • Hispanics by age group
                                                                                        • Figure 8: Hispanic attitudes about personal finances, by age group, December 2008
                                                                                      • Hispanics by language preference
                                                                                        • Figure 9: Hispanic attitudes about personal finances, by country of birth, December 2008
                                                                                      • The Hispanic household
                                                                                        • Figure 10: Average household size, by Hispanic origin/race of householder, 2001 and 2006
                                                                                        • Figure 11: Households, by number of persons in the household, Hispanics vs. non-Hispanics, 2006
                                                                                        • Figure 12: Households, by presence of children, Hispanics vs. non-Hispanics, 2006
                                                                                      • Hispanic household earners
                                                                                        • Figure 13: Number of earners in Hispanic households, by household income, December 2008
                                                                                      • Income earners by language preference at home
                                                                                        • Figure 14: Number of earners in Hispanic households, by language preference, December 2008
                                                                                    • Hispanics’ Category Expenditures

                                                                                        • Household expenditure growth
                                                                                          • Historic household expenditure by category
                                                                                            • Figure 15: Total expenditures on key categories, Hispanic and non-Hispanic 2001-07
                                                                                          • Estimated household expenditure by category
                                                                                            • Figure 16: Average household expenditures on key categories, Hispanic and non-Hispanic 2007-09
                                                                                          • Transportation
                                                                                            • Hispanics’ share of total transportation spend
                                                                                              • Figure 17: Hispanic share of spend on all transportation, 2000-07
                                                                                            • Change in Hispanic spending on transportation
                                                                                              • Figure 18: Change in average annual transportation expenditures by Hispanics, 2007-09
                                                                                            • Apparel
                                                                                              • Hispanics’ share of total apparel spend
                                                                                                • Figure 19: Hispanic share of spend on apparel, 2000-07
                                                                                              • Share of income spent on apparel
                                                                                                • Figure 20: Apparel expenditures as percentage of income, Hispanic vs. non-Hispanic, 2006 and 2007
                                                                                              • Change in Hispanic spending on apparel
                                                                                                • Figure 21: Change in average annual apparel expenditures by Hispanics, 2007-09
                                                                                              • Household entertainment spending
                                                                                                • Hispanics’ share of total entertainment spend
                                                                                                  • Figure 22: Hispanic share of spend on entertainment, 2000-07
                                                                                                • Change in Hispanic spending on entertainment
                                                                                                  • Figure 23: Change in average annual entertainment expenditures by Hispanics, 2007-09
                                                                                                • Household grocery spending
                                                                                                  • Spending by race/Hispanic origin
                                                                                                    • Figure 24: Average spent on groceries per week by race/Hispanic origin, July 2007-September 2008
                                                                                                  • Grocery spending by household income
                                                                                                    • Figure 25: Household grocery expenditure, by houshold income, Hispanic vs. non-Hispanic, July 2007-September 2008
                                                                                                  • Hispanic spending by language preference
                                                                                                    • Figure 26: Hispanic household grocery expenditure, by language preference when reading, July 2007-September 2008
                                                                                                • Hispanics in the Workforce

                                                                                                    • U.S. employment
                                                                                                      • Employment status of Hispanics and non-Hispanics
                                                                                                        • Figure 27: Employment status, Hispanic vs. non-Hispanic, October 2007-December 2008
                                                                                                      • Hispanic employment status by gender
                                                                                                        • Figure 28: Hispanic employment status, by gender, October 2007-December 2008
                                                                                                      • Income earners per household
                                                                                                        • Employed adults in household by race/Hispanic origin
                                                                                                          • Figure 29: Number of household income earners, Hispanic vs. non-Hispanic, October 2007-December 2008
                                                                                                        • Hispanic employment status by income
                                                                                                          • Figure 30: Hispanic employment status, by household income, October 2007-December 2008
                                                                                                        • Hispanics’ employment status by age
                                                                                                          • Figure 31: Hispanic employement status, by age, October 2007-December 2008
                                                                                                        • Hispanic employment status by educational attainment
                                                                                                          • Figure 32: Hispanic employement status, by education, October 2007-December 2008
                                                                                                        • Types of employment
                                                                                                          • Employment by industry, Hispanic vs. non-Hispanic
                                                                                                            • Figure 33: Employment by industry, by Hispanic/non-Hispanic, October 2007-December 2008
                                                                                                          • Employment by industry, Hispanics by gender
                                                                                                            • Figure 34: Hispanic employment by industry, by gender, October 2007-December 2008
                                                                                                          • Employment by industry, Hispanics by place of birth
                                                                                                            • Figure 35: Hispanic employment by industry, by place of birth, October 2007-December 2008
                                                                                                          • Employment by industry, Hispanics by language preferred when reading
                                                                                                            • Figure 36: Hispanic employment by industry, by language prefered when reading, October 2007-December 2008
                                                                                                          • Unemployment
                                                                                                            • Hispanics vs. all workers
                                                                                                              • Figure 37: Unemployment rate, by Hispanic vs. all, March 2009
                                                                                                            • Hispanics by place of birth
                                                                                                              • Figure 38: Hispanic unemployment rate, by place of birth, January 2009
                                                                                                            • Unemployment benefits collection among Hispanics
                                                                                                              • Figure 39: Number of Hispanics collecting unemployment compensation, by median household income level, 2007
                                                                                                          • Hispanics and Money

                                                                                                              • Attitudes towards money
                                                                                                                • By Hispanic vs. non-Hispanic
                                                                                                                  • Figure 40: Attitudes towards money, by Hispanic/non-Hispanic, October 2007-December 2008
                                                                                                                • Hispanics by gender
                                                                                                                  • Figure 41: Hispanic attitudes towards money, by gender, October 2007-December 2008
                                                                                                                • Hispanics by household income
                                                                                                                  • Figure 42: Hispanic attitudes towards money, by household income, October 2007-December 2008
                                                                                                                • Hispanics by language preference
                                                                                                                  • Figure 43: Hispanic attitudes towards money by language preference, October 2007-December 2008
                                                                                                                • Spending in today’s economy
                                                                                                                  • Hispanic attitudes: Impact of the new President
                                                                                                                    • Figure 44: Hispanic attitudes: “my financial situation will improve with this new President,” by household income, December 2008
                                                                                                                  • Hispanic attitudes: careful with money/looks for best deals
                                                                                                                    • Figure 45: Hispanic attitudes about personal finances, by household income, December 2008
                                                                                                                  • Hispanics and remittances
                                                                                                                    • Figure 46: Hispanics attitudes to remittances and family support, by language preference in the home, December 2008
                                                                                                                    • Figure 47: Hispanics attitudes to remittances and family support, by age, December 2008
                                                                                                                  • Hispanics and savings
                                                                                                                    • Saving habits of Hispanics by household income
                                                                                                                      • Figure 48: Hispanics ability to save and reasons for saving, by household income, December 2008
                                                                                                                    • Saving habits of Hispanics by language preference
                                                                                                                      • Figure 49: Hispanics ability to save and reasons for saving, by Hispanic language preference in the home, December 2008
                                                                                                                  • Cluster Analysis

                                                                                                                      • Optimists
                                                                                                                        • Who they are
                                                                                                                          • Opportunity
                                                                                                                            • The Overwhelmed
                                                                                                                              • Who they are
                                                                                                                                • Opportunity
                                                                                                                                  • The Unbound
                                                                                                                                    • Who they are
                                                                                                                                      • Opportunity
                                                                                                                                        • Cluster characteristics
                                                                                                                                          • Figure 50: Hispanic economic impact clusters, February 2009
                                                                                                                                          • Figure 51: Level of credit card debt by Hispanic economic impact clusters, February 2009
                                                                                                                                          • Figure 52: Attitudes towards the economy, by Hispanic economic impact clusters, February 2009
                                                                                                                                          • Figure 53: Attitudes towards debt, by Hispanic economic impact clusters, February 2009
                                                                                                                                          • Figure 54: Attitudes toward finances and financial services, by Hispanic economic impact clusters, February 2009
                                                                                                                                        • Cluster demographics
                                                                                                                                          • Figure 55: Hispanic economic impact clusters, by gender, February 2009
                                                                                                                                          • Figure 56: Hispanic economic impact clusters, by age, February 2009
                                                                                                                                          • Figure 57: Hispanic economic impact clusters, by household income, February 2009
                                                                                                                                          • Figure 58: Hispanic economic impact clusters, by language dominance, February 2009
                                                                                                                                        • Cluster methodology
                                                                                                                                        • U.S. Hispanic Population

                                                                                                                                            • Key facts
                                                                                                                                              • U.S. population by race/Hispanic origin
                                                                                                                                                • Figure 59: Population by race/Hispanic origin, 1970-2020
                                                                                                                                                • Figure 60: Asian/Pacific Islander, Black, and Hispanic populations, 1940-2020
                                                                                                                                                • Figure 61: Population, by race and Hispanic origin, 2004-14
                                                                                                                                              • The Hispanic and total U.S. population by age
                                                                                                                                                • Figure 62: U.S. Hispanic population, by age, 2004-14
                                                                                                                                                • Figure 63: Total U.S. population by age, 2004-14
                                                                                                                                              • Hispanics by generation
                                                                                                                                                • Figure 64: Generations by Hispanic vs. non-Hispanic, 2008
                                                                                                                                                • Figure 65: Fertility rate, by race and Hispanic origin of mother, 1996-2006
                                                                                                                                              • Hispanics by country of origin/heritage
                                                                                                                                                • Figure 66: Hispanic population, by country of origin/heritage, 2007
                                                                                                                                                • Figure 67: Graph Hispanics, by country of origin/heritage, 2007
                                                                                                                                              • Hispanics by geographic concentration
                                                                                                                                                • Figure 68: Hispanic population, by region, by country of origin/heritage, 2007
                                                                                                                                                • Figure 69: Graph: Hispanic population, by region, 2007
                                                                                                                                                • Figure 70: Hispanic population in top five states, by country of origin, 2006
                                                                                                                                              • States with greatest Hispanic population growth
                                                                                                                                                • Figure 71: Hispanic population, states with greatest percentage increase, 2000-06
                                                                                                                                              • Key Hispanic metropolitan areas
                                                                                                                                                • Figure 72: Metropolitan areas with the largest number of Hispanic residents, by country of origin, 2006
                                                                                                                                            • Acculturation

                                                                                                                                                • What is acculturation?
                                                                                                                                                  • Why is level of acculturation important?
                                                                                                                                                    • Levels of acculturation
                                                                                                                                                      • Unacculturated/Enculturated
                                                                                                                                                        • Acculturated/Bicultural
                                                                                                                                                          • Assimilated
                                                                                                                                                              • Figure 73: Hispanics, by acculturation and assimilation level, 1998-2008
                                                                                                                                                            • What is retro-acculturation?
                                                                                                                                                              • Retro-acculturation
                                                                                                                                                              • Appendix: Additional Tables

                                                                                                                                                                  • Figure 74: Hispanic types of employment status, by age group, October 2007-December 2008
                                                                                                                                                                  • Figure 75: Hispanics who describe the U.S. as a land of opportunity, by age group, December 2008
                                                                                                                                                                  • Figure 76: Hispanic attitudes: “my financial situation will improve with this new President,” by age, December 2008
                                                                                                                                                              • Appendix: Associations and Organizations Linked With the Hispanic Consumer

                                                                                                                                                                Companies Covered

                                                                                                                                                                • Facebook, Inc.
                                                                                                                                                                • Inter-American Development Bank
                                                                                                                                                                • MySpace.com
                                                                                                                                                                • U.S. Bureau of Labor Statistics
                                                                                                                                                                • Western Union Holdings, Inc

                                                                                                                                                                The Economic Impact of Hispanics on the U.S. Marketplace - US - June 2009

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