Did you know Spanish is the primary language spoken at home by over 35 million people aged five or above in the U.S.? Or that, if it were a standalone country, the U.S. Hispanic market buying power would make it one of the top 20 economies in the world? What’s more, the per capita income of U.S. Hispanics is higher than Brazil, Russia, India, or China.
These facts come from a recent Nielsen report that predicts Hispanic buying power will grow by 50% to reach $1.5 trillion in 2015. Our clients are adding Portuguese, Russian, or Chinese to reach growing markets in Brazil, Russia, and China, so why not add Spanish content to reach the U.S. Hispanic population? You can expand to one of the top 20 economies in the world – even if you’re focused only on the U.S. market.
English Is Not Enough
Hispanics make up 16% of the U.S. population (with a project growth of 167% to reach 42% of the population in 2050). What’s more, this large audience prefers to interact in Spanish. Nielsen estimates that 56% of Hispanics speak primarily Spanish at home, and 9 out of 10 Hispanic parents prefer to raise their children as bilingual in both Spanish and English. This is consistent with studies that show people prefer to interact in their native tongue, and it’s a big reason why providing your digital content in Spanish is a good idea.
Plus, you’ll be tapping into an audience that accesses “media from every platform available and often leads the general market as early adopters of emerging technologies.” Nielsen found Hispanics are 28% more likely to own a smartphone (so there’s motivation to translate mobile apps for the Spanish-speaking population – even if the app is only in the U.S.), and Hispanics are 68% more likely to watch videos on the internet, compared to non-Hispanics. Paired with evidence that bilinguals are smarter, you’ll be reaching an intelligent, tech-savvy group with buying power.