Report: Hispanics more positive about the future

With more reports indicating that the worst of the current economic crisis may be over, comes news that the growing Hispanic advertising sector is more optimistic than most other demographics.

by Kristina Knight

Experian/SimmonsSM partnered with Univision for the study and found that the Hispanic sector was about 11% higher consumer confidence rating than other demographics. More than 30% of Hispanics feel optimistic about their finances for the upcoming year.

Other interesting findings from the report include:

• 45% of Hispanics use credit cards
• 44% of Hispanics are more likely (than non-Hispanics) to pay bills with cash
• Nearly twice as likely to rent a home as own a home
• Hispanics shop more frequently than non-Hispanics

"The volatility of the current recessionary economy has created a need for more current week-by-week data, which is essential to effectively capture changes in consumer behavior and purchasing patterns," said Ceril Shagrin, executive vice president, Corporate Research, Univision Communications Inc. "By analyzing weekly data versus bi-annual or quarterly, Experian® SimmonsSM was able to provide a more precise representation of overall consumer attitudes, which reveals the resilience of the Hispanic consumer in this economy." Cons

Overall, the US population continues to be optimistic about the economic future, however it is interesting that the Hispanic demographic is pushing forward faster than other demographic populations. umer in this economy."