7/19/13
Almost one in three Hispanic households (29%) are “upscale”-earning $50,000-$100,000 annually-according to Nielsen and the Association of Hispanic Advertising Agencies (AHAA). In 2012, 15 million U.S. Hispanics were in this income bracket; this number is expected to double by 2050.
These households account for 37% of all spending by Hispanics. They are younger than non-Hispanic whites in the same income bracket-an average age of 33, versus 39 among white non-Hispanics. Most live in urban areas, especially Los Angeles, New York City, Houston, and Miami. They tend to have larger households than non-Hispanic whites with similar incomes; 85% live in households with three people or more, compared with 65% of non-Hispanics.
More than half have college degrees, and they’re more likely than non-Hispanics with similar incomes to be business owners. Almost nine in 10 upscale Hispanics have savings accounts (86%) and half have investments. They’re more likely than overall Hispanics to invest in mutual funds (21% vs. 16%). They’re more likely than non-Hispanics with comparable incomes to manage their financial accounts from mobile devices.
They outspend both Hispanics overall and non-Hispanics with comparable incomes on health and beauty products, including hair care products, fragrance, cosmetics, and men’s toiletries.
They are bicultural media users; their TV viewing is split almost evenly (52% of programs they watch are in Spanish, 48% in English). They prefer to watch comedies, documentaries, and children’s programs in English and cultural events, concerts, and sports in Spanish.
SOURCES: “Upscale Latinos: America’s New Baby Boomers,” June 2013, Nielsen and the Association of Hispanic Advertising Agencies (AHAA). Nielsen, Meg Chari, Communications Analyst, Consumer Packaged Goods and Retail, 85 Broad St., New York, NY 10004; 800-864-1224; meg.chari@nielsen.com; www.nielsen.com.
Association of Hispanic Advertising Agencies (AHAA), Kristy Cartier, Marketing & Media, 8400 Westpark Dr., 2nd Fl., McLean, VA 22102; 703-610-9014; kcartier@ahaa.org; www.ahaa.org. Price: Contact for information.
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