High-income Hispanics are more and more numerous and in the coming years they will become a decisive segment of the population in U.S. consumption patterns, the Association of Hispanic Advertising Agencies says in a study released Thursday.
In 2012 there were about 15 million "Upscale Latinos" with incomes in the range of $50,000-$100,000 per year, representing 29 pecent of the U.S. Hispanic population.
It is expected that that percentage will double by 2050, according to the study prepared by the AHAA and Nielsen.
This segment of the public has a purchasing power of around $500 billion, or 37 percent of the $1.3 trillion in purchasing power for the entire Latino population.
In addition, the majority of this contingent is bicultural - 75 percent speak both Spanish and English in their daily lives - and more than half of them have earned a university degree.
"To understand the characteristics of the influential Latino we use several of Nielsen's segmentation tools to group Latinos into several social and lifestyle groups," Nielsen's Reny Diaz told Efe on Thursday.
Among this part of the population, researchers identify four groups within the upscale Hispanic consumers: Young Accumulators, Young Achievers, Urban Uptowners, and Affluentials.
"The decisions and brand preferences forged with these consumers, as occurred with the baby boomers, is going to influence the U.S. lifestyle in the coming decades," Diaz emphasized.
The Nielsen researcher added that these consumers are concentrated in cities with a large Hispanic presence like New York, Los Angeles, Houston and Miami, "but we've also found them in cities like Washington D.C.; Salt Lake City; Jacksonville, Florida, and Honolulu." EFE