Abstract
The Hispanic market in the U.S. is an attractive target for financial corporations. Its size and growth are impressive, and make it an important segment for any player that aspires to increase or maintain its market share. At this point, most corporations have recognized the importance of Hispanics, and are involved in some form of marketing campaign aimed to capture a piece of this market.
This report focuses on the current state of the Hispanic market with respect to major financial industries, including banking, consumer debt, housing, insurance, investments, and sub-prime lending. It continues with a review of current marketing efforts by financial services companies targeting the U.S. Hispanic market.
A primary focus of this report is the Hispanic financial services consumer. Consumer research specially commissioned by Mintel examines the incidence of banking relationships in this group broken out by a number of demographic categories. It also looks at the attributes that Hispanic respondents use to choose a bank, the services they are using, and investment and insurance products owned by this population, as well as how those products were obtained.
This report covers the following financial industries with respect to the Hispanic market:
- Banking: checking accounts and remittances
- Consumer debt: credit cards and personal loans
- Housing: mortgages and home equity lines and loans
- Insurance: life, health, and disability policies
- Investments: current and retirement brokerage accounts
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