What will marketers learn when the Census 2010 results are released?
1. Companies selling to young consumers will need to target Latino youth. 22% of the US population under the age of 18 is Hispanic.
2. Ad campaigns in English will miss a large number of people because 37% of Latinos communicate mostly or only in Spanish.
3. The Hispanic population is no longer concentrated in just a few states. Many states, including Arkansas, Kentucky and Tennessee, showed double or triple digit increases in the number of Hispanic residents between 2000 and 2008.
4. Latinos have money to spend. Hispanic spending power grew by 6.4% vs. 2.9% for the general population between 2005 and 20008.
What are the implications for your business?