Latinos in the Midwest:As a Market SegmentDavid Dodds
Demographics In 2010 people who identified as Hispanic or Latino accounted for 16.3% of the U. S. population (US Census Bureau) The total population of the Midwest has only grown by 4% since 2000 (US Census) The Hispanic population in the Midwest has grown by 49% since 2000 (US Census) Over half of Hispanic population in the Midwest is under the age of 25 (US Census) One third is under the age of 18 (US Census) 2010 US Census 2010 US Census By State
Purchasing Power/Habits Spending power for Latinos estimated at $1.2 trillion in 2011- US Census “While Latino households are still mostly low-income, they have a greater economic impact than other poor American households”- Albert Gort, Associate Director at University of Notre Dames for Latino Studies Latino Households are typically larger with more wage earners More money goes toward food and clothes and more purchases are made from smaller mom and pop shops Aurora is now Illinois’ 2nd most populous town. 1 out of every 2 businesses here are Hispanic owned, according to the Aurora Chamber of Commerce
Media Use Amongst Latinos Because Latinos account for such a large market, their media use plays a large role in the media and marketing industries The Latino market is ever growing and increasing in purchasing power Latino media consumption accounts for a large portion of America’s overall media usage NBC spent $2.7 Billion to purchase Telemundo. While Univision sealed a deal with the Hispanic Broadcasting Corp. making them the most dominant in the market. –US News and World Report
Nielson Study: Television Viewing Amongst LatinosPrime Broadcast Programs Among Hispanics - United StatesWeek of March12, 2012Rank Program Network Rating Viewers(000)1 ABISMO DE PASION MON-03/12/2012 UNI 17.8 4,2052 QUE NO PODIA AMAR MON-03/12/2012 UNI 17.6 4,0643 QUE NO PODIA AMAR TUE-03/13/2012 UNI 17.5 4,1354 FAMILIA CON SUERTE 2 THU-03/15/2012 UNI 17.4 4,4325 QUE NO PODIA AMAR FRI-03/16/2012 UNI 17.3 4,1026 QUE NO PODIA AMAR THU-03/15/2012 UNI 16.9 4,1177 FAMILIA CON SUERTE 2 TUE-03/13/2012 UNI 16.7 3,9778 QUE NO PODIA AMAR WED-03/14/2012 UNI 16.5 3,8749 ABISMO DE PASION TUE-03/13/2012 UNI 16.2 3,69010 FAMILIA CON SUERTE 2 WED-03/14/2012 UNI 16.1 3,958 Nielsen Ratings Webpage
Radio and Internet According to an Arbitron radio study Hispanics are more influenced by sales than non Hispanics 50.6% of Hispanics ages 18-34 reported listening to the radio most of the time they were in a car For Hispanics ages 25-54 this number was 67.6% Internet usage amongst adult Latinos was 75% in 2007 and that number has increased since Arbitron Radio Rankings
In Conclusion Latinos account for a very large portion of the US population and the numbers are only rising. Latinos purchasing power is higher now than ever and will also continue to grow. The number of second and third generation Latinos born in the U.S. is ever increasing. These generations are receiving more schooling and obtaining more jobs than their parents before them. They also consume considerably more media than their previous generations. Due to the increase in second and third generation Latinos more income stays within the U.S. and the economy expands based upon their purchasing power. It is vital to recognize the difference between ethnicities within the Latino community. “Marketing to Mexicans is not the same as marketing to Puerto Ricans. Each group has its own idiosyncrasies in cultural and economic preferences”-Miguel Rovira, a prominent Puerto Rican business executive/lawyer Latinos are a very significant market segment and should be viewed as such. The Pew Hispanic Center has much more information and charts/tables.