IBISWorld, an independent publisher of U.S. industry research, estimates that overall Hispanic buying power will total $1.1 trillion in 2011, or about 9.5% of the US total.
Which begs the question, is 10 percent of your revenue coming from this demographic? If no, what, if anything, are you doing to change that?
For more than two decades, Hispanic buying power growth has outstripped that of the general population. Despite difficulties during and following the recession of 2009, buying power among Hispanics continues to escalate steeply.
Whether through active marketing strategies or mere coincidence, some sectors–Food, Retail, Education, Real Estate, Financial Services, Transportation and Entertainment and Media–have managed to capture a large and growing share of the Hispanic market, according to IBISWorld.
Following the recession of 2009, ad spending on Hispanic media grew 1.9% more than that of non-Hispanic media, with the largest gains experienced in TV, magazines and the internet.