Across the country, a growing Hispanic population is having a profound impact on the economy. According the University of Georgia business school, Hispanics will control $926.1 billion in total disposable income by 2007. The Hispanic market is "hot," which is merely another way of saying that demography is destiny -- online, as well as off.
The Targeting the US Hispanic Market report covers the latest findings and analysis regarding the Hispanic market to provide the basis for a wide range of economic projections. As important as it is, with the largest minority population in the nation, the fastest growing ethnic slice of America, and the youngest portion of people among all ethnic groups, the influence of today's Hispanic market will soon seem small compared to what's ahead.
In the eight years from 2000 to 2007, the number of Hispanic Internet users will nearly double from 8.7 million to 16.0 million, according to eMarketer. As with other segments, Hispanics online represent a sweet spot for marketers, a desirable target with typically higher incomes and greater levels of education than overall.
But marketers face barriers when entering the Hispanic market -- and language is only one of them. Concerns about language choices, generational groups, national origins and regional differences all conspire to make targeting the US Hispanic market a challenge:
The Issues and Questions Covered in the Report:
- Is it best to market in Spanish or English -- or both?
- How can marketers distinguish among the various national backgrounds among Latinos?
- Do marketers need to create separate campaigns to reach the Hispanic audience?
- Should targeting the Hispanic market mean a focus on local or national campaigns?
- How do second- and third-generation Hispanics differ from those newer to the US?
- Does connecting online with the Hispanic market mean a company needs to change its Web site and product offerings and service?
- And many more...
Here is an example of the type of statistics and analysis that fill the report:
US Hispanics: More Diverse than Alike
Diversity is the name of the game when it comes to US Hispanics. The first variation shows up in the label "Hispanic" itself. According to the "2002 National Survey of Latinos" report from the Pew Hispanic Center and the Kaiser Family Foundation, 34% of Hispanics prefer that term, while 13% embrace the term "Latino." Perhaps most important, a 53% majority have no preference.
When trying to pin down this group by labels, there's significant divergence between US-born and foreign-born Hispanics. The Pew/Kaiser researchers found that 90% of native-born Hispanics describe themselves as American. That's strikingly more than the 74% who use either the Hispanic/Latino terms or their parents' country of origin (such as Mexican or Puerto Rican).
These results point to a least one vital consideration for marketers: group labels alone do not a Hispanic marketing campaign make.
You will find more charts, graphs and analysis like what you see above inside the Targeting the US Hispanic Market report.
Todo Del Mundo Hispanico En Los Estados Unidos -- In One Report
Drawing on aggregated data from leading communications, marketing and research firms -- including comScore Media Metrix, Cultural Access Group, Hispanic PR Wire, LatinClips, Roper ASW, Yankelovich and others -- as well as government agencies, in combination with eMarketer's proprietary projections and analysis, the Targeting the US Hispanic Market report combines a broad overview with the in-depth analysis you need to make smart business decisions in this diverse and fast-growing market.
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