With a power of the purse projected to reach $1.5
trillion by 2015, U.S. Hispanics are an important group for marketers. Leading
the growth within this vital segment are women, according to a new Nielsen report.
The report, Latina Power Shift, highlights the growing numbers, economic condition, purchasing behavior and consumption of U.S. Hispanic women.
"The modern Latina is 'ambicultural,' with the ability to seamlessly transcend between English and Spanish-language -- two cultures -- giving her a unique position in our consumer landscape," Monica Gil, senior vice president, public affairs and government relations, Nielsen, said in a statement.
Recognizing that the U.S. Hispanic woman is "a key driver of economic influence" gives marketers an opportunity to build new consumer relationships "by acknowledging the needs and following the unique behavior trends of Hispanic women," she added.
According to Nielsen, Hispanic women will comprise 30 percent of the U.S. female population by 2060. They are increasingly becoming the primary income earners as well, and assuming roles as the main or joint decision maker for household spending, from what to buy at the grocery story to what kind of insurance to carry.
Nielsen's Latina Power Shift report reveals the following:
-- 86 percent of Hispanic women say a woman is the primary shopper in their households, controlling the majority of the current $1.2 trillion Hispanic buying power.
-- 73 percent of Hispanic high school female graduates are enrolling in college, more than Hispanic males (61 percent) and slightly more than non-Hispanic females (72 percent).
-- The percentage of households with Hispanic women over the age of 18 with an annual income of $75,000 or more increased five points over the past 10 years, from 16 percent to 21 percent; households with an income of $25,000 or more declined six points, from 33 to 27 percent.
-- Hispanic women online (77 percent) are more likely than their non-Hispanic white counterparts (55 percent) to own smartphones.
-- Only 15 percent of Hispanic females primarily use Spanish to surf the web; 31 percent use Spanish and English equally.
-- When Latinas search for Hispanic subject matters online, recipes top the list, followed by news, music, family health, beauty and celebrations.
The full report is available for download at the Nielsen website.
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