Is Hispanic Purchasing Power Showing You the Money?
If you aren’t already marketing your business to the Hispanic people in the United States, you might be missing a huge opportunity for a powerful source of new revenue. Everyone knows that the Hispanic population in the U.S. is growing, and rapidly, but do you know the stats?
In the 2000 Census, there were 35,300,000 Spanish-speaking people living in the U.S. That number was estimated in 2007 to be around 45,000,000. Though the numbers from the 2010 Census just taken are not in yet, it is a fact that the exploding Hispanic population is the fastest growing minority in the U.S., expected to surpass 50,000,000 by the year 2025. I have to stop myself sometimes and think ‘Wait, was that 50 million?’
It is. And that’s a lot of people, people who want what you have to sell. Hispanic buying power is, in fact, growing faster than non-Hispanics. The estimated purchasing power of this ethnic group is $600,000,000,000. Yes, that number is in the billions. Wow! You don’t want to miss this growing niche; translating your marketing tools into Spanish just makes sound business sense.
We at Galindo Publicidad specialize in translating your marketing materials into… well, any language you wish, but here we are talking about Spanish and the amazing marketing opportunity that smart companies are starting to tap. Consumer behavior/spending studies tell us that in terms of discretionary income, 17% of the Hispanic population are young, probably under the age of 20. Another 5% of that population are older than 50, which means that the remaining percentage are those working for a living, striving to support their families, carve out a career, and make a good life. In other words: consumers tend to be loyal.
As you know, all Spanish-speaking U.S. residents do not hail from Mexico. Many come from other Central and South American countries, as well as Puerto Rico and Cuba, naming just a few. And let’s face it: no matter where our citizens come from, we are all part of the consumer-driven society that is America. And, since the bilingual skills and preferences differ in most households, addressing the group in both, Spanish and English, may always get you covered. Yes, the economic fortunes of the estimated 47 million U.S. Hispanics are growing and businesses are paying attention. Are you?
· data source www.america.gov
Think for a long time I had the opportunity to read something so interesting and containing as effective.