According to the Census 2000, the United States Hispanic population increased far beyond the projections that most of the experts anticipated. Our population equais that of the African American segment. On Long Island and Westchester,
Hispanics represent the largest minority group.
- Hispanics represent 12.5% (35.3 million) of the U.S. population (281.4)
- Hispanics are the 15.1% (2.86 million) of the New York State population (18.97 million)
- Suffolk County Hispanic population of 149,411 represents 10.5% of the total of 1.42 million
- Nasssu County Hispanic population of 133,282 represents 10% of the total of
- Westchaster County Hispanic population of 144,124 represents 15% of the
total of 923,459 (Source: U.S. Census 2000)
- The increase of the Hispanic population of Suffolk, Nassau, Westchester and Rockland counties is due to the influx of new immigrants and former residents of New York City who moved to the suburbs looking for better work, housing and educational opportunities.U.S. HISPANIC MARKET
- 72% of the Hispanic population was born outside of the United States. In the New York market that figure was 77%. 47% of Hispanics in the Nation prefer Spanish on advertising, 30% prefer both English and Spanish, and 23% prefer English. (Source – 2000 Strategy Research Corporation)
- The U.S. Census projects that the purchasing power of Hispanics will grow 7.5% by the year 2010, compare to 4.9% of the population at large. (Source – U.S. Census 7000)
- Hispanics in United States command nearly $400 billion in purchasing power.
The Association of Hispanic Advertising Agencies says that based on the population count, American companies shouid be spending $20.5 billion marketing to Latinos to effectively reach the market, compared to about 1.9 billion in 1998, just 1% of U.S. companies’ marketing dollars. (Source – Hispanic Magazine)
- According to marketing expert Carlos Santiago (Santiago Valdes Solutions), the 42.5 million Hispanics in the United States and Puerto Rico, report $561 to $630 billion in purchase dollars this year, but corporations are failing to allocate enough money to reach this market. He predicts that the Hispanic population growth will offer the American economy 1.7 million new consumers, $224 million additional cash expenditures and 500,000 newly formed households for the year 2001.
- Based on the new population figures of Census 2000, the expert recommends that corporations invest $.08 – $.13 of every marketing dollar in the Hispanic market. Corporate America currently spends only $.004 in capturing every Hispanic purchasing dollar while they are spending $.03 for every mainstream consumer dollar throogh media spending. (Source-Advertica.com Inc. and HispanicBusiness.com