THE HI$PANIC MARKETPLACE I$ THE MARKETPLACE!

Who would have thought in the early part of the 20th century or in the middle of it or… that Latinos would save the American marketplace? To the party known as the USA, Hispanics bring youth, vitality, a strong culture, bilingualism and yes, America’s future. We know you think this sounds like a page from Donald Trump’$ playbook, NO? Table 1 speaks to the US’s “Trump Card”, its extraordinary population diversity. Table 2 views that card as it gets played in the all-important game of consumer buying power. As a precursor to T-1 & T-2, here are a few important US Latino checkpoints.

  • In 1950 there were 6 M Hispanics (2.4%) in the US with 22½ M (8.7%) in 1990. 2day there are 55M (17.4%) or 1 in 6 Americans is Latino (B/T 1990 & 2014, the growth avg’d 10% per yr).
  • ONLY Mexico has more Hispanics than the US (The US is the 2nd biggest Latino nation in the world).
  • By 2060 there will be about 130 M Latinos in the US (approx. 1/3 of the pop).
  • The med age of an Am Latino is 25/6 yrs vs a non-Latino at 37½ yrs (What a great resource youth is!) 52% of the US Hispanic population 2day is under 30 yrs
T-1: US Population by % of Minorities, 2000-2018 (Selig Center)
2000 2013 2018 2000-2013 Δ% 2013-2018 Δ% 2000-2018 Δ%
Total 282.162 316.904 331.204 12% 5% 17%
White 81.0% 77.7% 76.4% 8% 3% 11%
Black 12.7% 13.1% 13.3% 16% 6% 23%
Asian 4.0% 5.4% 6.0% 54% 15% 77%
Multiracial 1.4% 2.5% 3.0% 101% 25% 151%
Am Indian 1.0% 1.2% 1.3% 46% 8% 58%
Hispanic 12.6% 17.4% 19.1% 54% 15% 78%
T-2: Buying Power ($$ B) 2000-2018 by Racial, Ethnic Group & % Growth (Selig Center)
2000 % Tot 2013 % Tot 2018 % Tot 2000-2013 Δ% 2013-2018 Δ% 2000-2018 Δ%
Total 7,324 100% 12,418 100% 15,194 100% 70% 22% 107%
White 6,353 87% 10,377 84% 12,539 83% 63% 21% 97%
Black 601 8% 1,071 9% 1,333 9% 78% 24% 122%
Asian 275 4% 713 6% 962 6% 159% 35% 250%
Multiracial 59 1% 161 1% 237 2% 173% 47% 302%
Am Indian 40 1% 96 1% 123 1% 140% 28% 208%
Hispanic 491 7% 1,189 10% 1,608 11% 142% 35% 299%

Tables 1 & 2 above clearly stake the US’s claim on the future of our economic $u¢¢e$$ depending on our diversity. It is truly remarkable that as of 2018 there will be 3 races or ethnic groups who have at least $1 T in buying power. Just a reminder that ANY nation that has a GDP of $1 T today means that it would be in the Top 10% of the world economies (and have a greater GDP than Thailand with $990 B at #23). With Hispanism’s extraordinary strength comes its appropriate political punch, too, Donald. Can you Trump that, sir? RTHEREANYOTHERQUESTIONS?

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About bernacmd

For over 24 years, University of Detroit Mercy Marketing Professor Michael Bernacchi, Ph.D., J.D, has produced "uNDER tHE mIKE-rOSCOPE", a newsletter discussing current "marketing and advertising¹s bends, trends & ends." A well-know fixture in Detroit and national media, UDM's marketing guru has made several appearances on CNN's "Talk Back Live," the Voice of America worldwide radio network (VOA), ABC, CBS, NBC, MSNBC and on the pages of Sports Illustrated, Time, TV Guide, the New York Times, USA Today, the Wall Street Journal and the Washington Post, to name a few. At University of Detroit Mercy, he has taught courses in Marketing Management, Consumer Behavior, Marketing Communications, Research and Corporate Social Responsibility and Sports and Entertainment Marketing. Michael Bernacchi can be reached at 313-993-1116 or bernacmd@udmercy.edu. Please appropriately attribute the following for their work on uNDER tHE mIKE-rOSCOPE: Yen Ju Lee Robert Rouse Vidhyasagar Natarajan Eric Baumgardner & Ian Young
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