The U.S. Hispanic/Latino consumer market has an annual spending power of over $350 billion. Hispanics are the nation's fastest growing minority group and make up about 15 percent of the U.S. population, surpassing African-Americans in 2003 to become the largest minority. As this market gains in size, many Hispanics are only partially assimilated into the English language and culture or simply prefer to read publications, websites, or purchase products in their native language.

If your business is interested in reaching the U.S. Hispanic demographic, below are some statics from Allied Media you may find useful:

• There are more than 7.6 million Hispanic households in the United States, averaging 3.6 people per household.
  
• There are about 1 million Hispanic households in the United States with incomes of $50,000 or more.
  
• Sixty-seven percent of U.S. Hispanics are more comfortable with Spanish language publications.
  
• Hispanics spend, on average, $300 more per year on food and $250 on apparel products and services than the general market.
  
• They are more likely to use over-the-counter products and experiment more with personal care products than the general market.
  
• Eighty-five percent have at least one credit card.
  
• Forty-five percent have a calling card.
  
• They are heavier purchasers of swimwear, neckties, men's shirts and casual shoes, lingerie and women's slacks than the general market.
  
  

Find out more
For information about translating materials or localizing your website for Spanish-speakers, contact us. Or, visit this issue's Useful Links for access to news and government resources of possible interest to the Hispanic population.

SOURCES:
Allied Media, Inc.
U.S. Census Bureau