Additionally, their rate of growth in the 2008-2009 period was, in every two people added to the American people, one was a Hispanic American, thus during that period, over 1.4 million Hispanics were added in the American population (Passel, Livingston and Cohn). According to their average age estimation, 27 years is approximated to be the median age for the Hispanic Americans by the years 2012, this is in comparison to the 36 years median age for the complete American population. However, their education level is lower, since only 13% of the Hispanic Americans population of the age bracket of 25 years and older, have attained a bachelor degree or higher (Farley, Reynolds, 190-193).
Therefore, they suffer from high level of unemployment and diminished disposable income (Hispanic households median income is $37,760), but despite this situation, they are still an attractive target. This is because they have lower credit card debts, lower mortgage, and a superior tendency to purchase advertised products. According to the 2010 census in America, California, Texas, and Florida was a home to 50% of Hispanic Americans population. In which, 14 million Hispanics lived in California; Texas was approximated to hold 9.5 million Hispanics, while Florida held 4.2 million people.
Additionally, there are also some other states that hold at least half a million Hispanics’ households; they include Georgia, Colorado, New Jersey, New York, New Mexico, Texas, Washington, Virginia, and Pennsylvania (Demetrios Papademetriou). Unlike other minority groups, Hispanic Americans disposable income is spent differently, since while spending on beauty products and clothing, they spend more of their average income on food. They spend on average, 17.5% of their income on food. For instance, America’s largest Hispanic food company sells 1,600 food products, such as beans, rice, ready-to-eat, and frozen empanadas.
A report released by Food marketing Institute indicates that the groups tend to purchase fresh produce in groceries more than other groups, since they prefer preparing their own meals traditionally. Meaning that, food products are the main brands that have the higher purchase for the Hispanic Americans. Asians Americans While the population growth of other minority groups is slowing, Asian Americans continue to grow with an approximate of 50% population growth since 2000. The Asian Americans market represents a considerable growth opportunity for several businesses.
According to the 2012 statistics, the Asian Americans population is approximately 18.2 million representing the highest growth rate of minority groups in America (US Census Bureau).
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