Hispanic Spending Power Growing Twice as Fast Stacie de Armas, Arbitron's Director, Hispanic Services, said "From 1998 to 2003, corporate spending on Hispanic advertising has nearly
doubled to $2.7 Billion. According to the U.S. Census Bureau, there are approximately 40 million Hispanics-Americans living in the U.S with $686 billion in spending power, a number that is growing at
twice the annual rate of non-Hispanics."
According to the Arbitron Power of Hispanic Consumers Study 2004-2005, Hispanic consumers are heavier users of radio than newspapers or television.
They average over 22 hours per week and spend half their radio time listening to Spanish-language formats from Tropical to Talk.
Hispanic Americans are also younger than general population,
and
- 52 percent are married
- 55 percent of Hispanic households have four or more members
- More than one-third has at least some college education or more.
- Hispanics
are more likely to be employed than the average American
The study also found that Hispanic Americans are:
- Nineteen percent more likely to spend $500 or more on children's
clothing per year
- Twice as likely to spend $500 or more on athletic shoes per year
- Spending more on cell phones
- Seeing more movies than the average American and 81 percent more
likely to see a movie in its opening week
- 31 percent more likely to have taken five or more trips outside the U.S. within the last three years
The Arbitron Power of Hispanic
Consumers Study 2004-2005 is available here.