The Importance of Mailing to Hispanics

The Hispanic population in the United States will grow to over 103,000,000 by the year 2050. That’s a 250% increase over the current 40,000,000. Currently one in eight Americans are of Hispanic origin: 66.1% from Mexico, 14.5% from Central or South America, 9% from Puerto Rico and 4% from Cuba.

During the same time period the Caucasian American population will DECREASE by 19%.

That’s why smart direct marketers are focusing on building a powerful presence in the Hispanic market and they’re beginning their marketing programs right now.

Some industry analysts believe that 70% of all financial services growth will come from the Hispanic marketplace. No direct marketer can afford to ignore this market. You must have a specific program in place to reach out to this powerful segment of the market.

This is particularly attractive for banks, since 56% of America’s Hispanics have never had any kind of bank account. Hispanic wealth and population are rising three times faster than the US average. This translates to a massive opportunity not just for financial services direct marketers, but for every company engaged in direct marketing. This new group is worth $200 billion in new business over the next decade.

The facts don’t just pertain to individual consumers. The number of Hispanic-owned businesses is expected to grow by 55%, to 3,200,000 by the year 2010. That is only 5 years from now. During this same period, total Hispanic-owned business revenue will increase by 70%, to almost half a trillion dollars.

Within the next 5 years, the purchasing power of America’s Hispanic population will reach a trillion dollars. That’s significantly larger than the GDP of Mexico. This massive income will be spent on every consumer product and service.

Many list providers including Avrick Direct have created specifically Hispanic mailing lists to help direct marketers reach these consumers. For example, each month approximately 400,000 Hispanic new move names are identified. Almost 200,000 Hispanic new credit card issues are brought to the mailing list marketplace every month. And there are general consumer mail response files that generate well over 100,000 Hispanic monthly hotline names.

There are also many Hispanic database lists available from various list compilers, most offering selections including age, income and other demographic data.

Don’t think of this as just another market into which you can expand. Between the shrinking Caucasian population, and the rapidly expanding Hispanic population, you must address this critical market segment.