Pay attention to “upscale Latinos,” says Nielsen, calling them “the most influential segment since the baby boomers.” In partnership with the Association of Hispanic Advertising Agencies (AHAA), Nielsen has released some data concerning this demographic, which accounted for 29% of the Hispanic population last year but an outsized 37% of its total spending power. Defined as Hispanic households earning between $50k and $100k in annual income, these Latinos tend to be fairly young, with three-quarters of them under the age of 45. Of course, the Hispanic population as a whole is young, with 40% under the age of 21 as of 2011. In fact, relative to the Hispanic population as a whole, the upscale Latino might actually be slightly older: the Census Bureau data referenced above shows that in 2011, 77.1% of Hispanics were under 45.
Nevertheless, relative to the American population as a whole (of whom about 61% were under 45 in 2011), upscale Latinos skew young. This population segment also tends to live in sizable households: 77% have households with 4 or more people, and 85% have a household size of at least 3. (By comparison, says Nielsen, 65% of upscale non-Hispanics live in households with at least 3 people.)
Below are some more interesting facts about upscale Latinos, courtesy of Nielsen and the AHAA:
- They are highly concentrated in urban areas such as Los Angeles, New York, Houston and Miami, and 60% live in the Southwest and Pacific regions;
- They have an average age of 33, versus 39 for upscale non-Hispanic Whites;
- They’re more likely than their peers to use smartphones, own an iPad, and be a subscriber to one of the top mobile providers;
- More than half have been to college, and they’re more likely to own businesses than upscale non-Hispanics;
- They tend to be financially astute, with half having investments and the vast majority (86%) having a savings account;
- Three-quarters speak both English and Spanish, although they are slightly more English-dominant than other Hispanics;
- More than 1 in 3 watch content in both languages;
- English-language comedies, documentary-style programming, and children’s weekly programming are their most-watched shows, but they tend to watch Spanish-language TV for sports, concerts, and cultural events;
- Upscale Latinos outspend Hispanics overall (and upscale non-Hispanic Whites) on health and beauty products.