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BizReport : Advertising archives : September 20, 2006

New Study Shows Growth in Hispanic Markets

A new study from the Association of Hispanic Advertising Agencies (AHAA) raises some questions about how advertisers are, and are not, paying attention to the fast-rising Hispanic clientele in the United States.

by Kristina Knight

The survey collected information from AHAA member agencies. The biggest prediction? Most expect to see advertising budgets raise 10% in 2007, even though the market is tough to crack. According to the study a few of the big brands, companies like McDonalds, Sears and Procter & Gamble, are already targeting some print and television advertising directly to the growing Hispanic market. Still others, companies like Nike, Apple and Maytag don’t show up in their trend research at all.

The 2000 census, showing a rapidly growing Hispanic population seems to be the biggest reason for the increase in advertising. Here are some of the most interesting results:

• 2004, television and print advertising to the Hispanic markets grew 4.7%
• 2004 overall advertising spending grew 10.5%
• 2004 Hispanic buying power $686 billion
• By 2009, expect buying power to raise to $992 billion

The data in the study was specifically geared toward the traditional areas of print and television advertising dollars, but online marketers can find gold in the study, too. In 2007, experts expect to see an increase in traditional ad campaigns targeted to the Hispanic population.

Many survey respondents expect the segmentation of the Hispanic market to be a focal point for ad agencies for the next 5 years.

Tags: Hispanic target group

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