Consumer Payments in the U.S.: The Latino Market

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Published Aug 27, 2012 | 124 Pages | Pub ID: LA4868646

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Latino consumers are a bright spot in an otherwise dreary picture for issuers of credit cards.  According to Experian Simmons National Consumer Study (NCS) data, between 2004 and 2011 the total number of American consumers with credit cards dropped 5%, while the number of non-Latinos with credit cards fell 7%.  During this same period, however, the number of Latino cardholders increased 23%.  Thus, the vibrant growth in the number of Latino cardholders helped arrest what would have been an even more significant decline in the total number of American consumers owning credit cards. 

Packaged Facts Consumer Payments in the U.S.: The Latino Market illustrates the importance of Latinos to the debit and prepaid card worlds as well.  Between 2004 and 2011 the number of Latinos with debit/ATM cards more than doubled (115%), while the number of non-Latinos with debit/ATM cards increased only 51%.  Thus the report demonstrates the increasingly crucial role played by Latinos in all aspects of the consumer payments market.

Overview of the Report

The report begins with an analysis of the top trends driving the Latino consumer payments market and shows how Latinos have sparked growth within the credit and debit card industries.  It continues with an overview of Latino consumer payment patterns that includes analyses of how Latinos pay their bills and pay for purchases.  The report continues with a chapter examining trends in Latino consumer spending patterns.  The next chapter explores the use of credit cards by Latinos and includes an overview of the demographic characteristics of Latino cardholders by type of credit card as well as a review of the personal financial management attitudes of Latinos with credit cards.  The following chapter investigates the use of debit cards and prepaid (not gift) cards by Latinos.  The final chapter of the report analyzes the impact of media acculturation on Latino consumer payment practices and highlights regional differences in the Latino consumer payments market.

Scope of the Market

This Packaged Facts report focuses on ownership and use by Latinos of credit cards, debit/ATM cards and prepaid debit (not gift) cards and their payment patterns for bills and purchases.

Methodology

The principal source of primary data is the Winter 2012 Experian Simmons NCS, which was fielded between February 2011 and March 2012.  Trend data contained in the report is constructed from the Fall 2004 through Fall 2011 Experian Simmons National Consumer Studies.  These studies were fielded during the 12-month period ending in December of each year.

Experian Simmons conducts telephone and booklet-based surveys of a large and random sample of consumers who in aggregate represent a statistically accurate cross-section of the U.S. population.  Each Experian Simmons NCS survey release involves a sample of approximately 25,000 respondents.

The report is also based upon data collected from a wide range of industry sources, including company websites, trade publications, business newspapers and magazines, consumer blogs and other releases from public companies.

 


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        •   Growth in Population of Latinos and Non-Latinos 18 Years Old and Over, 2005 vs. 2010 (in thousands)

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        •   Compound Annual Growth Rates, Number of Latinos and Non-Latinos Who Have or Use Credit Cards and Debit/ATM Cards, 2004-2011

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        •   Number of Latinos with Credit, Debit/ATM and Prepaid Cards (in thousands)

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        •   Number of Latinos and Non-Latinos Who Use/Have Credit Cards, 2004-2011 (in thousands)

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        •   Impact of Latinos on Growth in Ownership of Credit Cards, 2004 vs. 2011 (in thousands)

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        •   Impact of Latinos on Growth in Use of Credit Cards Six or More Times in Last 30 Days, 2004 vs. 2011 (in thousands)

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        •   Impact of Latinos on Growth in Ownership of Debit/ATM Cards, 2004 vs. 2011 (in thousands)

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        •   Impact of Latinos on Growth in Frequent Use of Debit/ATM Cards for Purchases in Last 30 Days by Type of Card, 2011 vs. 2012 (in thousands)
        •   Impact of Latinos on Growth in Use of Debit/ATM Cards for Cash in Last 30 Days, 2011 vs. 2012 (in thousands)

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        •   Impact of Latinos on Growth in Use of Prepaid Cards, 2011 vs. 2012 (in thousands)

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        •   Percent of Users of Prepaid Cards with and without Checking Accounts, Latino vs. Non-Latino
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        •   Trends in Consumer Expenditures of Latino and Other Consumer Units, 2000 vs. 2010 (in thousands)
        •   Trends in Aggregate Consumer Expenditures of Latino and Other Consumer Units, 2000 vs. 2010 (in billion $)
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        •   Trends in Methods Used by Consumers to Pay Bills 2008-2011, Latino vs. Non-Latino

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        •   Projected Growth in Number of Latino Consumers Who Have or Use Credit Cards, 2012-2017 (in thousands)

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        •   Projected Growth in Number of Latino Consumers with Debit/ATM Cards, 2012-2017 (in thousands)

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        •   Projected Growth in Number of Latinos Using Prepaid (not Gift) Cards, 2012-2017 (in thousands)

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        •   Percent Agreeing "I Always Use Cash to Pay Bills" by Ownership of Credit, Debit/ATM and Prepaid Cards, Latinos vs. Non-Latinos

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        •   Form of Bill Payment, Latinos vs. Non-Latinos

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        •   Channel for Paying Bills, Latinos vs. Non-Latinos

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        •   Form of Bill Payment by Latinos with Household Income of $100,000 or More

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        •   Channel of Bill Payment by Latinos with Household Income of $100,000 or More
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        •   Form of Bill Payment by Latinos with Credit Card and Computer in Household

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        •   Channel of Bill Payment by Latinos with Credit Card and Computer in Household

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        •   Number of Visits to Paypal.com in Last 30 Days by Consumers with Credit Cards and Living in Household with Computer, Latino vs. Non-Latino

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        •   Demographic Profile of Latinos by Method of Paying Bills

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        •   Percent Agreeing "I Often Prefer to Pay Cash for Things I Buy" by Ownership of Credit, Debit/ATM and Prepaid Cards, Latinos vs. Non-Latinos

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        •   Usual Method of Payment for Catalog, Mail/Phone and Internet Purchases Made in Last 12 Months, Latinos vs. Non-Latinos

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        •   Percent of Latinos with Credit Cards Likely to Buy Big- and Medium-Ticket Items in Next 30 Days by Type of Credit Card

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        •   Frequency of Shopping by Latinos with Credit, Debit/ATM or Prepaid Cards

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        •   Spending Patterns of Latinos with Credit, Debit/ATM or Prepaid Cards

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        •   Spending Patterns of Latinos with and without Credit Cards

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        •   Spending Patterns of Latinos by Type of Credit Card Have or Use

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        •   Expenditures of Hispanic Consumer Units as Percent of Before-Tax Income, 2010

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        •   Characteristics of Consumer Units, Latino vs. Non-Latino Consumer Units, 2010

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        •   Consumer Expenditure Categories for Which Latino Consumer Units Spend a Higher Percentage of Their Total Budget
        •   Consumer Expenditures Categories for Which Latino Consumer Units Spend a Lower Percentage of Their Total Budget

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        •   Number and Percent of Consumers Who Have or Use Credit Cards, Latino vs. Non-Latino (in thousands)

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        •   Type of Credit Card Latinos Have or Use (in thousands)

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        •   Type of Credit Card Have or Use, Latinos vs. Non-Latinos

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        •   Percent of Latinos Owning Bank Credit Cards and Other Types of Credit Cards
        •   Percent of Latinos Owning Retail Store Credit Cards and Other Types of Credit Cards

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        •   Number of Times Credit Card Owners Used a Credit Card in Last 30 Days, Latino vs. Non-Latino by Type of Credit Card

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        •   Attitudes toward Spending and Saving Money, Latinos vs. Non-Latinos by Ownership of Credit Cards

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        •   Interest in Financial Services of Consumers with and without Credit Cards, Latino vs. Non-Latino
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        •   Measures of Economic Optimism, Latinos with Credit Cards by Type of Credit Card

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        •   Demographic Profile of Consumers Who Have or Use Credit Cards, Latino vs. Non-Latino

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        •   Demographic Profile of Latinos Owning Credit Cards by Type of Credit Card: Bank Credit Cards

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        •   Demographic Profile of Latinos Owning Credit Cards by Type of Credit Card: Retail Store Credit Cards

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        •   Number and Percent of Consumers Who Have Debit/ATM Cards, Latino vs. Non-Latino (in thousands)

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        •   Type of Debit/ATM Card Latinos Have (in thousands)
        •   Percent Having or Using Debit/ATM Card, Latinos vs. Non-Latinos
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        •   Number of Times Owners of Debit/ATM Cards Used for Purchases in Last 30 days by Type of Card, Latinos vs. Non-Latinos

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        •   Number of Times Owners of Debit/ATM Cards Used Card for Cash in Last 30 days by Type of Card, Latinos vs. Non-Latinos
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        •   Number and Percent of Latinos Using Debit/ATM Cards for Cash Six or More Times in Last 30 Days by Type of Card, 2011 vs. 2012 (in thousands)
        •   Number and Percent of Consumers Using Debit/ATM Cards for Purchases Six or More Times in Last 30 Days by Type of Card, 2011 vs. 2012 (in thousands)

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        •   Demographic Profile of Latinos with Debit/ATM Cards Only, Both Credit and Debit Cards and Credit Cards Only

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        •   Number and Percent of Consumers Who Used Prepaid (not Gift) Cards in Last 12 Months, Latino vs. Non-Latino (in thousands)
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        •   Type of Prepaid Card Used in Last 12 Months by Latinos (in thousands)
        •   Percent Using Prepaid Cards (Not Gift Cards) by Brand of Card, Latinos vs. Non-Latinos

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        •   Demographic Profile of Consumers Using Prepaid Cards, Latino vs. Non-Latino

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        •   Native vs. Foreign-Born Latinos 18 Years Old and Over, 2010 (in thousands)

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        •   Demographic Profile of Latinos by Degree of Media Acculturation

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        •   Channels Latinos Use to Pay Bills by Degree of Media Acculturation
        •   Forms Latinos Use to Pay Bills by Degree of Media Acculturation

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        •   Number of Times Latinos Used a Credit Card in the Last 30 Days by Degree of Media Acculturation

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        •   Demographic Highlights of Latinos Owning Credit Cards and Having a High Degree of Media Acculturation
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        •   Demographic Characteristics of Latinos by Selected Geographic Area

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        •   Percent of Latinos with Credit, Debit/ATM or Prepaid Cards by Selected Geographic Area

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        •   Methods Latinos Use to Pay Bills by Selected Geographic Area
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