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Asian Americans are
the fastest growing ethnic group in |
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America. Overall, the Asian-American
population grew |
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48% from 1990 to 2000,
more than four times the growth |
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rate of the U.S. population. With $254
billion in annual
|
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buying power, Asian
Americans are a powerful force in |
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the U.S. consumer
market. |
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Over the past decade,
their spending power has |
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increased 125%, from
$118 billion in 1990 to $253 billion |
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in 2001.
Projections from the Selig Center for Economic
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Growth indicate that
Asian-American spending power will |
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reach $528 billion by
2009, an increase of nearly 347% |
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since 1990.
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Hispanic Demographics and Statistics |
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|
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U.S. Businesses Owned
by Hispanics Top 1 Million;
California, Texas, Florida
Lead
States, Census Bureau Reports
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|
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Houston |
Number |
Percent |
|
Total Population
|
1953631 |
100.00% |
|
Hispanic or
Latino (of any race) |
730865 |
37.41% |
|
Mexican |
527442 |
27%
|
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Puerto Rican |
6906
|
0.35% |
|
Other Hispanic or
Latino |
191547 |
9.8% |
|
Not Hispanic or
Latino |
1222766 |
62.59% |
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White alone
|
601851 |
30.81% |
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Hispanic-owned businesses in the United States
totaled 1.2 million firms, employed over1.3 million
people and generated $186.3 billion in revenues in
1997, according to a report released today by the
Commerce Department's Census Bureau.
Hispanic-owned firms made up 6 percent of the
20.8 million nonfarm businesses in the nation and 1
percent of the $18.6 trillion in receipts for all
businesses. |
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Hispanic Marketing: A Critical
Market Segment
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Capturing the Loyalty of a Critical Market
Segment |
Multiculturalism is redefining what it means
to be American today. With the changing
appearance of the U.S. population comes new
definitions of the U.S. consumer and new
dilemmas for marketers trying to reach those
whose tastes, customs and language may differ
from what is commonly know as "general
market". Culturally relevant marketing plans
will become increasingly critical as the
population becomes more diverse and the buying
power of U.S. Hispanics becomes more
significant.
The biggest mistake that a company can
make is to view the U.S. Hispanic market as
homogeneous. Acculturation levels, language
preferences and country of origin make for
unique sub-groups within the segment. |
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CMT has the experience, knowledge, expertise
connections and resources to successfully
penetrate your business and its message into
these two very dynamic market segments. |
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