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STUDY CONFIRMS GROWTH, SIZE AND PURCHASING POWER OF HISPANIC MARKET

 STUDY CONFIRMS GROWTH, SIZE AND PURCHASING POWER OF HISPANIC MARKET
 MIAMI, July 2 /PRNewswire/ -- Compared to other ethnic groups, the country's 24 million Hispanics spend, on average, more money on food, clothing, used cars, telephone services, laundry and cleaning supplies, and rent; but less than 1 percent of advertising expenditures are directed at this market, which comprises a staggering $200 billion.
 These are among the findings released today by the consulting firm of DRI/McGraw-Hill to determine the potential impact that U.S. Hispanics, the nation's fastest-growing minority group, have as a consumer group.
 The study analyzes Hispanic population growth and spending patterns, and was compiled from 1980 and 1990 Census data, as well as from consumer expenditure surveys compiled by the U.S. Census Bureau.
 Spending Patterns
 Although as a group, Hispanics earn less than non-Hispanics (just over 75 cents on the dollar), Hispanic households on average have more disposable income. Hispanic household earnings comprise only 77 percent of the amount earned by non-Hispanic households; yet they spend about 83 percent of the amount spent by their Anglo counterparts. The study attributes this occurrence to a relatively low tax burden and to Hispanics' demographic profile.
 Over the course of the next decade, Hispanics will make up 14.2 percent of all growth in consumer products, 17.5 percent of all growth in clothing and shoe expenditures, and 29.6 percent of all growth in food and beverage expenditures.
 Specifically, Hispanics spend more money on:
 -- Food. (21 percent more on cereals; 37 percent more on beef; 20
 percent more on vegetables; 9 percent more on nonalcoholic
 beverages).
 -- Clothing. Although overall expenditures in this category are
 only 1.5 percent above non-Hispanic numbers, they are much higher
 within certain subcategories. For example: Hispanics spend 74
 percent more on clothing for children under 2 years of age and 30
 percent more on clothes for children between the ages of 2 and 15.
 Continuous Growth
 Hispanics, which comprise approximately 10 percent of the United States population, are the fastest-growing minority group in this country. Between 1980 and 1990, the Hispanic segment of the population grew by 51 percent -- an increase of 7.5 million individuals, with a 40 percent growth expected over the next decade. Immigration rates, continuous natural growth (births minus deaths), and a tendency to retain the language and cultural traits make this an enormous market, according to the study.
 DRI/McGraw-Hill is a market planning consulting firm that helps businesses in North America, Europe and Asia plan their growth by assessing the likely effects of changing market conditions on consumer markets.
 Univision, the nation's leading Spanish-language television network, reaches 90 percent of U.S. Hispanic households through satellite- interconnected broadcast and cable affiliates nationwide.
 -0- 7/2/92
 /CONTACT: Carmen Hiers of Univision, 305-471-3982/ CO: Univision; DRI/McGraw-Hill ST: Florida IN: SU:


AW-JJ -- FL004 -- 6062 07/02/92 10:03 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 2, 1992
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