Much of the Hispanic population growth in recent years has come from birth, rather than migration. The so-called “Generation Z” is becoming increasingly Hispanic, with 1 in 4 school-age Americans now of Latin descent. Ninety percent of these young people are American-born, and they tend to have different priorities and worldviews than their parents. While they are mainly bilingual, most prefer English to Spanish—and those old enough to spend money tend to buy online. Brands would do well to pay attention to the Gen-Z Hispanic market’s revenue potential and begin crafting campaigns to reach them.

 

The Hispanic Population Is Becoming More Affluent

 

In the wake of the Great Recession, recent research indicates the median personal income among Hispanics has risen by 5 percent, compared to 3 percent for the population as a whole—and for foreign-born Hispanics, the increase has been 14 percent. Sixty percent of Latino American wage earners now make more than $40,000 per year. Nearly half of US-born Hispanic adults are college-educated. These numbers indicate an overall growth in buying power among the Hispanic community. If your marketing strategy assumes the Hispanics in your target market are blue-collar, low-income earners, these are assumptions that need to be revised.

 

Hispanic Growth into New Areas

 

While border states like California, New Mexico, Arizona, and Texas typically have higher Hispanic numbers, the overall growth extends into areas you might not expect. At least 13 states have seen their Latino population exceed 10 percent over the past decade, including places like Wyoming, Idaho, Connecticut, Idaho, and even Hawaii. Brands focusing their reach on local areas should dig a little deeper into the numbers to ensure they aren’t missing a key demographic in their marketing strategies.

 

Wicked Bionic works overtime to gather the latest data on demographics and marketing trends, and we can provide actionable strategies to improve your marketing strategies to Hispanics and other segments. Give us a call to see how we can directly grow your business.

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