OH NO NOT MY BURRITO!!!!With all this May Day or whatever you want to call it going on, I thought it would be interesting to look at the Hispanic population a little closer. The parade was pretty (annoying) ridiculous yesterday too. I mean my grandparents were inmmigrants too, and they didn't need a march to announce their presence. But hey they are here and we can't ignore them. No matter how many times they are spilling into the streets by the BP station. We would be making a mistake though to classify them as ONE group. Influx had a great post about 6 months back on the Hispanic population subject.
"The Hispanic population in the US is forecast to increase dramatically in the coming years. In California alone, Hispanics account for 33% of the population, up from 12% in 1970. The most staggering statistic is that Hispanics now account for 50% of those aged under 24 in the state. Recent research from Scarborough identified the cities with the fastest growing Hispanic populations, those cities increasing by 30%+ over the 2001-2004 period included; Dallas (53%), Orlando (46%), Salt Lake City (43%), Phoenix (41%), Fort Myers (37%), Denver (33%), Atlanta (33%), West Palm Beach (31%) and Houston (30%). Marketers are paying increased attention to this group, but the notion of treating them as a single entity is misguided, according to Scarborough. Its research identified 5 clusters of Hispanics that make up the population.
Young Americans- 31%
Only 24% are foreign born. They have a HHI of $60k. Only 17% prefer to speak Spanish only. Likely to be the children of the Old Ways and Pioneers.
The Pioneers- 6%
Older at 65 years, but have integrated into the American way of life (only 21% prefer to speak Spanish). They have a HHI of $50k.
Settled In- 17%
Younger than the Pioneers at 43. Have the highest HHI of all groups at $68k. Only 19% prefer to speak Spanish.
Old Ways- 17%
Traditionalists. They have been in the US for over 20 years, but 61% still prefer to speak Spanish
New Lifers- 29%
New to the US, have been in the country an average of 8 years. They are the second youngest group with an average age of 31 years. Not yet assimilated into American culture, 61% still prefer to speak Spanish. Basically the segmentation suggests the market is split 50:50 with traditionalists vs. modernists. It will be interesting to see exactly how the New Lifers evolve; do they become more like the Old Ways group or closer to The Pioneers? One thing for certain, treating Hispanics as a single homogenous group, is a big mistake."