Hispanic Consumers - Market Research, Industry Trends, Market Share, Consumer Insights


Published: 06/23/2016
Pages: 172
Full Study Price: US$ 3,195

Over the next decade, the U.S. Hispanic population will account for more than half of the United States’ total population growth. Ten years from now, Hispanic consumers will comprise one in every five U.S. consumers. By mid-century Hispanics will be on the cusp of forming a majority of the populations of California Texas, meaning it is now more important than ever for marketers to closely hollow Hispanic consumer spending behavior.
Hispanics: Demographic Consumer Spending Trends, 9th Edition unmasks the power of Hispanic consumer spending trends, as well as the sheer enormity of the Hispanic consumer population its corresponding buying power. The rate at which Hispanic households are growing combined with the rapid increase in Hispanic consumer spending makes the Hispanic consumer one of the most important drivers in a variety of consumer expenditure categories.
Hispanics: Demographic Consumer Spending Trends, 9th Edition analyzes the most recent data regarding Hispanic consumer spending demographic trends. The report uses the terms “Hispanic” “Latino” interchangeably. Primary data in the report is drawn from the Simmons National Hispanic Consumer Study (NHCS) for Fall 2015, which was fielded between November 2014 December 2015. U.S. Government sources include data from the Consumer Expenditure Survey (CES) of the Bureau of Labor Statistics. The report is also based on data from a range of industry sources, including company websites, press releases, trade publications, business newspapers, magazines consumer blogs.

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Table Of Contents

  • Executive Summary
    • Scope of the Report
    • Methodology
    • Insights and Opportunities
      • Latino Consumers Make Major Shifts in Spending Priorities
      • Household Services Take Away from Spending on Household Products
      • Latinos Ramp Up on Insurance Coverage
      • Hispanic and Non-Hispanic Spending Trends Differ
      • Hispanic Consumer Base Will Continue Rapid Expansion
      • Latino Consumers Offer High Hopes for Financial Services Marketers
      • Hispanic Millennials Key to the Future of Financial Services Industry
    • Hispanic Population Trends
      • Latino Population Growth Drives Multicultural Shift in U.S.
      • U.S.-Born Latinos Spark Hispanic Population Growth
      • Hispanic Population Has Impact Throughout the U.S.
      • Mexicans Predominate, Central American Population Grows Fastest
      • Hispanic Immigration Slows as Outmigration Grows
      • Acculturation Will Lead to Lower Birth Rates
      • Latinos Still Set to Increase Impact on American Society
      • Latinos Will Form Majority in California and Texas by 2060
    • Language and Acculturation Trends
      • English Usage on the Upswing
      • Latinos Divide into Distinct Acculturation Segments
      • Foreign-Born Latinos Will Remain Key Segment
      • Most Hispanics Still Marry Other Hispanics
    • Demographic Trends
      • Latinos Major Force in Younger Age Segments
      • Age Structure Varies by National Origin
      • Latino Population Skewed Toward Males
      • Education Lifts Up More Latinos
      • High-Paying Jobs for Latinos on the Upswing
      • Middle-Income Households at the Heart of Hispanic Population
      • Solid Growth in Upper-Income Latino Households
      • Children Remain a Fundamental Feature of Hispanic Households
      • Larger Households More Common Among Latinos
      • Mexican Households Most Likely to Be Married-Couple Families
    • Trends in Hispanic Buying Power
      • Aggregate Personal Income Growth Far Above Average
      • Mexicans Dominate
      • Buying Power of Latinos Tops $1.3 Trillion
      • Hispanic Buying Power to Reach $1.8 Trillion in 2020
      • Latino Consumers Wield Growing Power in American Marketplace
    • Recent Trends in Hispanic Consumer Spending
      • Spending on Big-Ticket Items Up
      • Food and Apparel Spending Down
      • Household Services Winning Out Over Household Products
      • Hispanics Boost Insurance Expenditures
    • Use of Financial Services by Latinos
      • Latino Ownership of Bank Accounts Shows Robust Growth
      • Attachment to Cash Declines
      • Dramatic Increase in Hispanic Credit Card Use
      • Use of Debit Cards More than Doubles among Latinos
      • Latinos Offer Growth Opportunity for Life Insurance Industry
      • Health Insurance Coverage Rises Among Latinos
      • Latinos Account for Most of the Growth in Auto Insurance Coverage
      • Tenants Insurance for Latinos Experiences Exponential Growth
    • Marketing to Hispanic Consumers
      • Fewer Latinos Connect with Spanish-Language Advertising
      • Traditional Latinos Still Relate to Spanish-Language Advertising
      • More Hispanics Gravitate to English-Language Media
      • Millennials in Vanguard of Acculturated Latinos
  • Insights and Opportunities
    • Topline Insights
      • Latinos Drive Growth in Consumer Spending
      • Where Latinos Have Had the Biggest Impact on Consumer Spending
      • Growth in Financial Services Increasingly Depends on Latino Consumers
      • Latino Consumers Make Major Shifts in Spending Priorities
        • Table Share of Total Annual Consumer Expenditures by Hispanic Households: By Expenditure Category, 2012 vs. 2015
      • Big-Ticket Items Gain Ground
      • Latinos Investing in Nesting
      • Household Services Take Away from Spending on Household Products
      • Latinos Ramp Up on Insurance Coverage
      • Hispanic vs. Non-Hispanic Spending Trends Differ
        • Table Largest Differences in Spending Changes for Hispanic vs. Non-Hispanic Households: By Expenditure Category, 2012 vs. 2015
    • Market Trends and Opportunities
      • Hispanic Consumer Base Will Continue Rapid Expansion
      • Marketers Will Encounter Growing Core of Higher-Income Households
      • Traditional Latinos Will Continue to Matter to Marketers
      • Latino Consumers Offer High Hopes for Financial Services Marketers
      • Hispanic Millennials Key Part of Future for Financial Services Industry
      • Hispanic Millennials Have Different Views About Financial Services
      • Cellphone Use Makes Latinos "Super Consumers"
  • Hispanic Population Trends
    • Hispanic Population Growth Trends
      • Latino Population Tops 55 Million
        • Table U.S. Population by Race and Hispanic Origin, 1990-2014 (in thousands and percentages)
      • Latino Population Growth Drives Multicultural Shift in U.S.
        • Table U.S. Population Growth: Multicultural vs. Non-Hispanic White Population Segments, 1990-2014 (in thousands)
      • U.S.-Born Latinos Spark Hispanic Population Growth
        • Table Growth in Number of U.S.-Born vs. Foreign-Born Hispanics, 2005-2014 (in thousands)
    • Where Latinos Live
      • Hispanic Population Remains Highly Concentrated
        • Table States with Largest Hispanic Populations, 2014 (in thousands)
        • Table Top 5 States Ranked by Size of Growth in Hispanic Population, 2010-2014 (in thousands)
      • Hispanic Population Grows in Wide Range of Locales
        • Table Selected States With High Rate of Growth in Hispanic Population, 2010-2014
    • Where Latinos Come From
      • Mexicans Predominate
        • Table Hispanic Population by Country of Origin, 2014 (in thousands)
      • Central American Population Grows Fastest, Mexican Grows the Most
      • More Diversity Outside the West and Southwest
        • Table States with Largest Concentrations of National Segments of Latino Population, 2014 (in thousands)
      • National Groups Cluster in Handful of States
        • Table National Segments of Latino Population Ranked by State, 2014 (in thousands)
    • Hispanic Population Growth Projections
      • Pace of Hispanic Population Growth Expected to Slow
      • Hispanic Immigration Slows as Outmigration Grows
      • Acculturation Will Lead to Lower Birth Rates
      • Latinos Still Set to Increase Their Impact on American Society
        • Table U.S. Population Projections by Race and Hispanic Origin, 2015, 2020, and 2025 (in thousands)
        • Table Projected Share of Growth in U.S. Population by Race and Hispanic Origin, 2015-2025 (in thousands)
      • Latinos Will Form Majority in California and Texas by 2060
  • Language and Acculturation Trends
    • Language Trends
      • Spanish Usage Slowly Declining
      • English on the Upswing
      • Wide Differences in English-Language Use Across National Origins
      • Slowing Immigration Will Affect Dominance of Spanish Language
      • Generational Change Leads to Rise in English-Language Use
        • Table English Language Use by U.S.-Born Mexicans by Age Group and Place of Birth of Parents, 2015
      • English vs. Spanish Not a Simple Issue for Many Latinos
        • Table Languages Spoken in Home of Latinos vs. Languages Prefer to Speak, 2015
    • Acculturation Trends
      • Latinos Divide into Distinct Acculturation Segments
        • Table Degree of Acculturation of Latinos by Place of Nativity and Languages Spoken in Home, 2015 (in thousands)
        • Table Hispanic Degree of Identification with Original and Host Cultures by Place of Birth and Language Usage, 2015
      • Differences in Acculturation Have Many Implications
        • Table Attitudes of U.S-Born and Foreign-Born Hispanics Toward Maintaining Hispanic Culture: By Acculturation Segment, 2015
      • Demographic Profiles Vary Across Acculturation Spectrum
        • Table Demographic Profile of Hispanics by Degree of Identification with Original and Host Cultures and by Place of Birth and Language Usage, 2015
      • National Segments Vary in Extent of Acculturation
        • Table Degree of Identification with Original and Host Cultures by National Origin, 2015
    • Looking to the Future of Hispanic Culture in America
      • Foreign-Born Latinos Will Remain Key Segment
        • Table Hispanic Population Projections by Place of Birth, 2015-2025 (in thousands)
      • Most Hispanics Still Marry Other Hispanics
        • Table Growth in Number of Married Couples and Opposite-Sex Unmarried Couples by Presence of Children and by Hispanic Origin of Both Spouses/Partners, 2000-2015
      • Most Latinos Agree "You Don't Have to Speak Spanish to Be Latino"
  • Demographic Trends
    • Age and Gender
      • Hispanics Younger than Average
      • Latinos Major Force in Younger Age Segments
      • Latinos Drive Growing Power of Multicultural Youth
      • Youngest Latinos Already in Majority in California and Texas
        • Table Hispanics as Percent of Population Under 18 Years of Age in California and Texas: By Age Group, 2014
      • Age Structure Varies by National Origin
      • Latino Population Skewed Toward Males
        • Table Percent of Males by Age Group: Hispanic vs. Non-Hispanic Population, 2014
    • Education and Occupational Trends
      • Education Lifts Up More Latinos
      • Gender Gap Widens
      • High-Paying Jobs for Latinos on the Upswing
      • Education and Occupations Vary Across National Groups
    • Household Income
      • Middle-Income Households at the Heart of Hispanic Population
      • Solid Growth in Middle- and Upper-Income Latino Households
        • Table Increase in Number of Households with Income of $75,000 or More: Hispanic vs. All Households, 2005 vs. 2014 (in thousands)
      • Cubans and South Americans Most Affluent Latino Segments
    • Household and Family Structure
      • Children Remain a Fundamental Feature of Hispanic Households
      • Most Hispanic Kids Live with Two Parents
        • Table Living Arrangements of Children under 18: Hispanic vs. All Children, 2015
      • Larger Households More Common Among Latinos
      • Mexican Households Most Likely to Be Married-Couple Families
  • Buying Power Trends
    • Hispanic Buying Power Trends
      • Aggregate Personal Income Growth Far Above Average
      • Latinos Account for 10% of Aggregate Personal Income
        • Table Aggregate Personal Income: Hispanic vs. Other Population Segments, 2014
      • Mexicans Dominate
        • Table Aggregate Personal Income of Hispanics by National Origin, 2014
      • Buying Power of Latinos Tops $1.3 Trillion
        • Table Buying Power of Hispanic Consumers, 2010-2015 (in billion $)
    • Projected Growth in Hispanic Buying Power
      • Factors Affecting Growth in Hispanic Buying Power
        • Table Projected Population Growth of Hispanics vs. Non-Hispanics, 2015-2020 (in thousands)
      • Hispanic Buying Power to Reach $1.8 Trillion in 2020
        • Table Projected Growth in Buying Power of Hispanic Consumers, 2015-2020 (in millions of dollars)
  • Recent Consumer Spending Trends
    • Overview
      • Latino Spending Priorities Undergo Radical Shift
        • Table Key Changes in Spending Patterns of Hispanic Households: By Expenditure Category, 2012 vs. 2015
    • Top Spending Trends
      • Latino Spending on Automotive Vehicles Surges
        • Table Aggregate Spending on Automotive Vehicles by Hispanic vs. Non-Hispanic Households, 2012-2015 (in millions of dollars)
        • Table Aggregate Spending on New Cars and Trucks by Hispanic vs. Non-Hispanic Households, 2012-2015 (in millions of dollars)
        • Table Aggregate Spending on Used Cars and Trucks by Hispanic vs. Non-Hispanic Households, 2012-2015 (in millions of dollars)
      • Hispanics Now Spend More on Household Services, Less on Products
        • Table Aggregate Spending on Housekeeping Supplies by Hispanic vs. Non-Hispanic Households, 2012 vs. 2015 (in millions of dollars)
      • Latinos Becoming Prime Customers for Insurance Industry
        • Table Aggregate Spending on Health, Auto and Life and Other Personal Insurance by Hispanic vs. Non-Hispanic Households, 2012-2015 (in millions of dollars)
      • Big Boost in Latino Spending on Furniture and Appliances
        • Table Aggregate Spending by Hispanic vs. Non-Hispanic Households on Household Furnishings and Equipment, 2012-2015 (in millions of dollars)
        • Table Expenditures on Household Furnishings and Bedding, Bath & Linens by Hispanic Households in Last 12 Months, 2012 vs. 2015 (in thousands of households)
        • Table Aggregate Spending by Hispanic vs. Non-Hispanic Households on Household Furnishings and Equipment by Category, 2012-2015 (in millions of dollars)
      • Hispanics Embrace Cellphones with More Spending
        • Table Aggregate Spending by Hispanic vs. Non-Hispanic Households on Telephone Service by Category, 2014-2015 (in millions of dollars)
      • Latinos Spend Less on Apparel
        • Table Aggregate Spending by Hispanic vs. Non-Hispanic Households on Apparel and Footwear by Category, 2012-2015 (in millions of dollars)
      • Expenditures on Food at Home Show Modest Gain
      • Restaurant Spending Flat
  • Use of Financial Services by Latinos
    • Banking Services
      • Latinos Turn to Savings Accounts
      • Latino Ownership of Bank Accounts Shows Robust Growth
        • Table Number of Hispanics vs. Non-Hispanics with Bank Accounts: By Type of Account, 2005 vs. 2015 (in thousands)
    • Credit and Debit Cards
      • Attachment to Cash Declines
      • Dramatic Increase in Hispanic Credit Card Use
        • Table Number of Hispanics vs. Non-Hispanics Using Credit Cards, 2005 vs. 2015 (in thousands)
      • American Express Grabs Latino Market Share
        • Table Number of Hispanics vs. Non-Hispanics Using Credit Cards: By Type of Credit Card, 2005 vs. 2015 (in thousands)
      • Use of Debit/ATM Cards More than Doubles among Latinos
        • Table Number of Hispanics vs. Non-Hispanics Using Debit/ATM Cards, 2005 vs. 2015 (in thousands)
      • MasterCard Debit Card Gains Among Latinos
        • Table Number of Hispanics vs. Non-Hispanics Using Debit Cards: By Type of Debit Card, 2005 vs. 2015
    • Insurance
      • Latinos Offer Growth Opportunity for Life Insurance Industry
        • Table Number of Hispanic vs. Non-Hispanic Households Carrying Life Insurance, 2005 vs. 2015 (in thousands)
      • Health Insurance Coverage Rises among Latinos
        • Table Number of Hispanics and Non-Hispanics Carrying Medical/Health/Hospital Insurance, 2005 vs. 2015 (in thousands)
      • Latinos Account for Most of the Growth in Auto Insurance Coverage
        • Table Number of Hispanic vs. Non-Hispanic Households Carrying Automotive Insurance, 2005 vs. 2015
      • Tenants Insurance for Latinos Experiences Exponential Growth
        • Table Number of Hispanic vs. Non-Hispanic Households Carrying Homeowners and Tenants Insurance, 2005 vs. 2015 (in thousands)
  • Marketing to Hispanic Consumers
    • Overview
      • Demographic Change Continues to Alter Marketing Landscape
        • Table Degree of Acculturation of Latinos, 2015 (in thousands)
      • Fewer Latinos Connect with Spanish-Language Advertising
      • Traditional Latinos Still Relate to Spanish-Language Advertising
      • Spanish-Language Ads Can Have Broad Impact
      • More Hispanics Gravitate to English-Language Media
      • Spanish-Language Media Still the Focus of Traditional Latinos
      • Millennials in Vanguard of Acculturated Latinos
        • Table Degree of Acculturation of Latinos by Age Group, 2015 (in thousands)
      • English-Language Media Dominate Among Hispanic Millennials
      • Spanish-Language Ads Appeal to Millennials' Pride in Hispanic Heritage
    • Marketing Approaches
      • Macy's Looks to Latinas with Thalia Line
      • Target Focuses on Hispanics
      • Toyota Succeeds with Hispanics
      • Financial Services Industry Sees Opportunity in Hispanic Market
      • Well Fargo Targets Hispanic Home Buyers
      • MassMutual Launches Su Negocio Program