Table of Contents
- Scope and Themes
- What you need to know
- Definition
- Sources
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
- Executive Summary
- Understanding the consumer
- Demographics
- Acculturation
- The Hispanic consumer
- Financial position is strong and growing
- Unease in today' s economy is leading to cut-backs in spending
- Hispanics with lower levels of acculturation overspend in certain
categories
- Remittances to Latin America remain an essential part of the Hispanic
budget
- Hispanics and money
- Careful with money, untrusting of banks
- A significant portion of the Hispanic population is underbanked
- Frequent debit card use suggests desire for banking services
- Aspirations to save, difficult realities
- Home loans non-existent or source of concern
- Undocumented Hispanics lack access to credit
- Hispanic finances and financial services
- A lack of knowledge and an element of interest
- The majority of Hispanics do not own any type of investment
- Hispanics prefer to make financial decisions on their own
- A variety of insurance and a variety of behaviors
- Retirement savings falls short
- U.S. Hispanic Population
- Demographic data
- U.S. Hispanic population
- U.S. population by race/Hispanic origin
- Figure 1: Population by race/Hispanic origin, 1970-2020
- Figure 2: Asian/Pacific Islander, Black, and Hispanic populations,
1940-2020
- Figure 3: Population, by race and Hispanic origin, 2003-13
- Age
- The Hispanic and non-Hispanic population by age
- Figure 4: Hispanic population, by age, 2003-13
- Figure 5: Total U.S. population, by age, 2003-13
- Generations
- Hispanics by generation
- Figure 6: Generations, by Hispanic origin, 2008
- The Hispanic household
- Figure 7: Average household size, by Hispanic origin/race of
householder, 2001 and 2006
- Figure 8: Households, by number of persons in the household--Hispanics
vs. non-Hispanics 2006
- Figure 9: Households, by presence of children and Hispanic origin, 2006
- Hispanic fertility rate
- Figure 10: Fertility rate, by race and Hispanic origin of mother,
1996-2006
- Country of origin/heritage
- Figure 11: Hispanic population, by country of origin/heritage, 2007
- Figure 12: Graph: Hispanics, by country of origin/heritage, 2007
- Geographic location
- Hispanics by geographic concentration
- Figure 13: Graph: Hispanic population, by region and by country of
origin/heritage, 2007
- Figure 14: Hispanic population, by region and by country of
origin/heritage, 2007
- States with greatest Hispanic population growth
- Figure 15: Hispanic population greatest percentage increase, 2001-06
- Key Hispanic metropolitan areas
- Figure 16: Metropolitan areas with the largest number of Hispanic
residents, by country of origin, 2006
- Acculturation
- What is acculturation?
- Why is level of acculturation important?
- Unacculturated/Enculturated
- Acculturated/Bicultural
- Assimilated
- Figure 17: Hispanics, by acculturation and assimilation level, 1998-2008
- What is retro-acculturation?
- Retro-acculturation
- The Hispanic Consumer
- Hispanic purchasing power
- Hispanic purchasing power on the upswing
- Figure 18: Purchasing power, by race/Hispanic origin, 2007
- Hispanic income
- But Hispanics lag in U.S. household income distribution
- Figure 19: Median household income, by race and Hispanic origin of
householder, 2007
- Figure 20: Household income distribution, by race and Hispanic origin of
householder, 2007
- Hispanic household earners
- Figure 21: Number of household earners, by income level, December 2008
- Income earners by language preference at home
- Figure 22: Number of household earners, by language preference, December
2008
- Hispanic income levels concentrated in key states
- Figure 23: Largest Hispanic markets, by Hispanic disposable income, 2005
- Hispanics and the economy
- Hispanics in today' s economy
- Figure 24: Hispanics now looking for deals/sales more than they did a
year ago, by household income, December 2008
- Figure 25: Hispanic attitudes towards personal finances, by household
income, December 2008
- Hispanics' economic outlook
- Figure 26: Hispanics who describe the U.S. as a land of opportunity, by
household income, December 2008
- Remittances to Latin America
- Providing for the family
- Figure 27: Hispanic attitudes towards personal finances, by language
preference, December 2008
- Younger Hispanics send more
- Figure 28: Hispanic attitudes towards personal finances, by age group,
December 2008
- Decrease in remittances
- Remittances and banks
- Figure 29: Western Union television ad, "We Are With You", February 2008
- Hispanics' category expenditures
- Figure 30: Expenditures by category, by Hispanic origin of consumer unit
reference person, 2007
- Household grocery spending
- Spending by race/Hispanic origin
- Figure 31: Average spent on groceries per week by race/Hispanic origin,
July 2007-September 2008
- Spending by household income
- Figure 32: Household grocery expenditure by income level, Hispanic vs.
non-Hispanic, July 2007-September 2008
- Hispanic spending by language preference
- Figure 33: Hispanic average spent on groceries, by language preference
when reading, July 2007-September 2008
- Hispanics and Money
- Attitudes towards money
- By race/Hispanic origin
- Figure 34: Attitudes towards money, by race/Hispanic origin, July
2007-September 2008
- Hispanics by income level
- Figure 35: Hispanics' attitudes towards banking by household income
level, July 2007-September 2008
- Hispanics by place of birth
- Figure 36: Hispanic attitudes towards banking, by place of birth, July
2007-September 2008
- Banking
- Banking and investment use by race/Hispanic origin
- Figure 37: Banking and investment services preferred by Hispanics and
non-Hispanics, July 2007-September2008
- Hispanics by income level
- Figure 38: Banking services prefered by Hispanics and non-Hispanics, by
income, July 2007-September 2008
- Hispanics by place of birth
- Figure 39: Hispanics' banking behavior, by place of birth, July
2007-September 2008
- Figure 40: Wachovia Bank television commercial, " Way2save", September
2008
- Hispanics' usage of debit cards
- By race/Hispanic origin
- Figure 41: ATM/debit card ownership, by race/Hispanic origin,
July-September 2008
- Figure 42: ATM/debit card usage frequency, by race/Hispanic origin, July
2007-September2008
- Hispanics by level of acculturation
- Figure 43: ATM/debit card ownership, by Hispanic language preference,
July 2007-September 2008
- Savings, the new priority
- Savings by race/Hispanic origin
- Figure 44: Ownership of savings vehicles, by race/Hispanic origin, July
2007-September 2008
- Saving habits of Hispanics by income
- Figure 45: Currently saving money for variious items, by household
income, December 2008
- Saving habits of Hispanics by language preference
- Figure 46: Currently saving money for the following items, by Hispanic
language preference, December 2008
- Savings habits of Hispanics by age
- Figure 47: Currently saving money for the following items, by Hispanic
language preference, December 2008
- Loans and the Hispanic consumer
- Loans by race/Hispanic origin
- Figure 48: Loan ownership, by race/Hispanic origin, July 2007-September
2008
- Loans by Hispanic household income
- Figure 49: Hispanic loan ownership, by household income July
2007-September 2008
- Loans by language preference when reading
- Figure 50: Hispanic loan ownership, by language preference when reading,
July 2007-September 2008
- Figure 51: Wells Fargo Bank television ad, Mortgages, May 2008
- Hispanics' usage of credit cards
- Figure 52: Consumer credit outstanding, percentage change, 2007
- Credit card acquisition by race/Hispanic origin
- Figure 53: Credit card ownership, by race/Hispanic origin, July
2007-September 2008
- Hispanic credit card debt
- Figure 54: Credit card payment behavior, by race/Hispanic origin,
November 2008
- Hispanic credit card debt by income level
- Figure 55: Hispanic ownership of credit cards, by income level, July
2007-September 20008
- Hispanic credit card debt by language spoken at home
- Figure 56: Hispanic attitudes towards their credit card debt, by
language preference, December 2008
- Figure 57: Visa television ad, "Life takes Visa", May 2008
- Hispanic Finances and Financial Services
- Finances and financial services
- Hispanics' attitudes towards finances and financial services
- Investments by race/Hispanic origin
- Figure 58: Attitudes towards finances, by race/Hispanic origin, July
2007-September 2008
- Hispanics' investment by language preference
- Figure 59: Attitudes towards finances, by language preference in the
home, July 2007-September 2008
- Hispanics' investments by income level
- Figure 60: Attitudes towards finances, by race/Hispanic origin and
income level, July 2007-September 2008
- Investment products
- Investments by race/Hispanic origin
- Figure 61: Investment ownership, by race/Hispanic origin, July
2007-September 2008
- Hispanics' investments by income level
- Figure 62: Investment ownership, by race/Hispanic origin and income
level, July 2007-September 2008
- Figure 63: Prudential retirement television ad, October 2008
- Financial decisions
- Financial services used by Hispanics, by income
- Figure 64: Hispanic financial decisions, by income level, December 2008
- Financial services used by Hispanics by educational attainment
- Figure 65: Hispanic financial decisions, by education level, December
2008
- Hispanics and insurance products
- Health insurance
- Health insurance by race/Hispanic origin
- Figure 66: Ownership of health insurance, by race/Hispanic origign, July
2007-September 2008
- Figure 67: Means of obtaining Health insurance by race/Hispanic origin,
July 2007-September 2008
- Hispanics' health insurance by income
- Figure 68: Ownership of health insurance, by race/Hispanic origign, July
2007-September 2008
- Figure 69: Means of obtaining Health insurance, by race/Hispanic origin
and income level, July 2007-September 2008
- Life insurance
- Life insurance by race/Hispanic origin
- Figure 70: Ownership of life insurance, by race/Hispanic origin, July
2007-September 2008
- Hispanic life insurance by income
- Figure 71: Ownership of life insurance, by race/Hispanic origin and
income level, July 2007-September 2008
- Figure 72: Value of life insurance, by race/Hispanic origin and income
level, July 2007-September 2008
- Figure 73: Ownership of life insurance by language preference in the
home, July 2007-September 2008
- Automotive insurance
- Automotive insurance by race/Hispanic origin
- Figure 74: Ownership of auto insurance, by race/Hispanic origin, July
2007-September 2008
- Figure 75: Value of auto insurance, by race/Hispanic origin, July
2007-September 2008
- Hispanics' automotive insurance by income
- Figure 76: Value of auto insurance, by race/Hispanic origin and income
level, July 2007-September 2008
- Home insurance
- Home insurance by race/Hispanic origin
- Figure 77: Ownership of home insurance, by race/Hispanic origin, July
2007-September 2008
- Hispanics' home insurance by income
- Figure 78: Value of home insurance by race/Hispanic origin and income
level, July 2007-September 2008
- Planning for retirement
- Retirement savings
- Pensions by race/Hispanic origin
- Figure 79: Ownership of 401(k) accounts, by race/Hispanic origin, July
2007-September 2008
- Hispanics' pension savings by income
- Figure 80: Ownership of 401(k) accounts, by race/Hispanic origin and
income level, July 2007-September 2008
- Attitudes towards retirement planning
- Pension by race/Hispanic origin
- Figure 81: Attitudes towards retirement, by race/Hispanic origin and
income level, July 2007-September 2008
- Appendix: Simmons
- Figure 93: Hispanics banking behavior, by language preference in home,
July-September 2008
- Appendix: Other Useful Consumer Tables
- Figure 94: Hispanics who describe the U.S. as a land of opportunity, by
language preference, December 2008
- Figure 95: Hispanics who describe the U.S. as a land of opportunity, by
household income, December 2008
- Appendix: Trade Associations
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