Back to the March 2008 Newsletter

Sources

Clear Channel Outdoor [PDF]

Advertising Age

Market Research

"Hispanics have over $686 billion in spending and it is said to be growing at twice the annual rate of non-Hispanic spending," according to the Power of Hispanic Consumers, a study conducted by Clear Channel Outdoor. Even on this year's election campaign, Hispanic spending is said to surpass the $2 billion mark in Texas. Hispanics are the largest growing minority, with growth at such a rapid pace, dominance as the leading ethnic group is expected by 2050, according to The Pew Hispanic Center.

Spending within the Hispanic demographic is closely watched. Hispanic families are often characterized as having larger families at earlier life stages and more full-time employment than the average non-Hispanic in the United States. Statistics indicate 55.1% of Hispanic households have four or more members. Heavy spending is very common, particularly in certain categories such as children's clothing, infants' clothing, athletic shoes and clothing, telephone services, and groceries.

Hispanics spend more on movies, compared to non-Hispanics and tend to travel beyond U.S. borders more often. A large percentage of the Hispanic population has a significant amount of family outside the U.S. Among the most visited regions are Mexico, South America, and Central America.