NEW YORK, Aug. 23, 2016 /PRNewswire/ -- Hispanics are a key demographic to watch, especially in a presidential election year, according to From the Ballot Box to the Grocery Store: A 2016 Perspective on Growing Hispanic Influence in America, a Nielsen report released today. The Hispanic population is currently 57 million strong (18% of the total U.S. population), and is set to add another 62 million by 2060. In 2015, Hispanics controlled $1.3 trillion in annual buying power, an amount larger than the GDP of Australia or Spain, and the trend is only expected to continue. U.S. Hispanics are not only growing in population, but they are also becoming a larger, more informed and active participant of the U.S. electorate.
"Due to the size and increasing influence, marketers, media and political groups must appeal to Hispanics and actively engage this segment," said Mónica Gil, senior vice president and general manager, Multicultural Growth and Strategy at Nielsen. "There is no 'one size fits all' solution to reach all Hispanics; a multipronged approach is required. We are diverse, we speak two languages and we are paying attention. Whether it is a marketing campaign or a political one, understanding the nuances that exist between generations, gender, income levels and other demographic factors can make all the difference in winning Hispanics. That is why both data and insights are so important."
As part of Nielsen's ongoing efforts to provide insights that help marketers better serve Hispanic consumers, the report highlights the powerful impact of the explosive Hispanic population growth, prominence, and buying power, as well as their growing clout as a rapidly growing part of the American electorate.
"Nielsen has a rich history as a champion and leader in multicultural insights in audience measurement," said Luis A. Miranda, Jr., co-chair, Nielsen Hispanic Latino External Advisory Council. "As the U.S. population becomes more diverse, these insights—and the ability to accurately capture them—become more important. Each year, we see Nielsen sharing data and insights on communities of color with content creators, retailers, manufacturers and community influencers. This data-driven representation of our communities helps to ensure greater diversity in the development of product portfolios and media programming that is more inclusive of our global, cultural influence."
Highlights of A 2016 Perspective on Growing Hispanic Influence In America include:
Population Explosion & Increased Economic Power
- The Hispanic/Latino population is expected to comprise 24% of the population by 2040 and 29% by 2060.
- Over the next 45 years, 65% of the total growth in the U.S. population is expected to come from Hispanics/Latinos.
- In 2015, Hispanic/Latino buying power rose to $1.3 trillion, an increase of 167% since 2000, more than double the 76% growth in the total U.S. non-Hispanic buying power in this time period.
- Between 2000 and 2014, U.S.-born Hispanic households making $50,000 or more increased from 33% to 48%. Foreign-born Hispanic/Latino households making $50,000 or more increased from 26% to 38% for the same period.
Powerful Reach, Influence and Unpredictability of the Latino Vote
- There are currently 27 million eligible Hispanic/Latinos who are or will be eligible to vote in the 2016 presidential election, making up 12% of the total U.S. electorate. By November, approximately 3.4 million eligible Hispanic-American new voters, 14% of the total Hispanic voting population, will have come of age since the last presidential election.
- When it comes to party affiliation, 52% of U.S. Hispanics surveyed identify as Democratic, 30% as Independent and 9% as Republican.
- As U.S. Hispanics/Latinos become increasingly English-dominant, they are more likely to self-identify as Independent: 39% of English-dominant Hispanics/Latinos say they are Independent, regardless of voting, compared to 17% of bilingual Hispanics/Latinos, and 36% of Spanish-dominant Hispanics/Latinos.
- Looking more deeply at the self-declared Independent group, more than half (56%) claim to lean neither Democratic or Republican, suggesting that the Hispanic vote would appear to be more in play than is often assumed.
Language and Media Preferences
- Due to the increase in U.S.-born Hispanics and the decrease in new immigration, younger generations of Hispanics/Latinos are predominantly bilingual – and increasingly English-dominant.
- Thirty-five percent of U.S. Hispanics/Latinos 55 years and older are Spanish-dominant, while only 14% of U.S. Hispanics/Latinos between 18-34 and 4% of Hispanics/Latinos under the age of 18 are.
- However, 58% of U.S. Hispanics 18-34 and 58% of U.S. Hispanics 18 and under are bilingual, so advertising in both English and Spanish is important to reach younger Hispanics/Latinos.
For more details and insights, download A 2016 Perspective On Growing Hispanic Influence In America.
About Nielsen's Diverse Intelligence Series
In 2011, Nielsen launched the Diverse Intelligence Series, a robust portfolio of comprehensive reports that focus solely on diverse consumers' unique consumption and purchasing habits. The series has become an industry resource to help brands better understand and reach ethnic customers. To learn more about Nielsen's Diverse Intelligence research series, visit www.nielsencommunity.com.
Nielsen Holdings plc (NYSE: NLSN) is a global performance management company that provides a comprehensive understanding of what consumers Watch and Buy. Nielsen's Watch segment provides media and advertising clients with Total Audience measurement services across all devices where content—video, audio and text—is consumed. The Buy segment offers consumer packaged goods manufacturers and retailers the industry's only global view of retail performance measurement. By integrating information from its Watch and Buy segments and other data sources, Nielsen provides its clients with both world-class measurement as well as analytics that help improve performance. Nielsen, an S&P 500 company, has operations in over 100 countries that cover more than 90% of the world's population. For more information, visit www.nielsen.com.