 US HISPANIC | CASE STUDY |
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| US Hispanic: Most Profitable and Active |
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How many people? How do they behave? What consumption patterns do US Hispanic audiences show? A recent study by Nielsen reveals it's the largest, most profitable and active minority segment in the US media industry.
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Its days of being a niche market are over. The Latin population in the US has gained ground and the current economy is greatly benefited from this group, according to Nielsen's 'State of the Hispanic Consumer: The Hispanic Market Imperative' report.
The Hispanic US market (52 million people) accounts for one sixth of the US' population and is currently considered the minority segment with the greatest growth potential. According to Nielsen's report, "Latinos are impacting every aspect of the national landscape including popular culture, the workforce, consumerism, politics and American national identity. The Hispanic market's size, growing clout, and buying power of $1 trillion in 2010 and $1.5 trillion by 2015 require thoughtful understanding about what the market represents to a company’s bottom line. Latinos are no longer just a sub-segment of the economy, but a prominent player in all aspects of American life."
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This impressive growth is accompanied by a great buying power (despite contrary belief), thus making it the most profitable market, with unique consumption habits, especially in regard to technology and media.
LEADERS IN NEW MEDIA CONSUMPTION
"Latino usage rates of television, smartphones, social networking, online video and other forms of entertainment make Latinos one of today's most engaged and dynamic targets," states the report.
The sheer numbers are quite revealing: for instance, Hispanic users tower over any other segment in the population as far as content downloads go. They receive an average of 941 text messages a moth -more than any other group- and make 13 calls a day; 40% higher than the US' average.
Even though Hispanics are less likely to have Internet access at home compared to the US average (62% and 76%, respectively), 14% of Hispanic homes have increased broadband US during the last year, while broadband use in the general market grew only 6%.
The report also states Hispanics spend 68% more time watching video on the Internet and 20% more time watching video on their mobile phones compared to non-Hispanic Whites.
In addition, the report reveals Latinos are especially active in regard to social networking: They are 25% more prone to being loyal to a brand; 21% to posting links to articles, videos and websites; 17% to creating or updating a personal blog; and 7% to having at least one profile on a social network.
And the trend continues to increase. As stated in the report: "Hispanic culture in the US may evolve but will not go away."
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Where Everything Grows
