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The Hispanic-American population is the fastest growing in the U.S. According to Jupiter Research. The Hispanic-American online population is expected to increase to 15 million households in 2011 from the current 12 million households.
In addition, more Hispanic-Americans are visiting the Web today because Internet access is increasingly more available. Today Hispanic-Americans are the largest minority group online. According to the third annual AOL/Roper U.S. Hispanic Cyber study, Hispanics with Internet access at home are rapidly adopting broadband, with half of online Hispanics going online over high-speed connections at home. That’s on a par with the share of the general online population with broadband at home, and comes despite the fact that Hispanics are relatively newer to the Internet, the survey found.
Hispanic-American’s are younger and heavier users of today’s technology and communications options. Fifty-six percent of Hispanics online are between the ages of 18 to 34 vs. 34 percent for the general online population.
Financial Goals and Purchasing Power
56 PERCENT of online Hispanics cite owning their own business as a goal compared with 36 percent of the online general population.
Online management of personal finances has grown substantially among online Hispanics since 2004. 43 percent use the Internet regularly or occasionally to open a bank account or do online banking, up from 34 PERCENT in 2004.
Researching and Purchasing Online
According to Forrester Research, Hispanic-Americans currently harness a spending power of $575 billion, and in coming years that number will certainly increase.
Nearly two-thirds—63percent—of online Hispanics use the Internet for information for the final brand decision, more than any other source asked about, compared with about half—52 percent—of the online general population.
70 percent now view the Internet as the best source for comparing prices—vs. 59 percent in 2004. Nearly two-thirds—63 percent—go online to get advice on brands to buy vs. 56 percent in 2004.
Hispanic-Americans may be searching differently. In addition to the three major search engines, they also use portals engines such as terra.com and univsion.com.
Online Entertainment
Hispanic-Americans visit entertainment sites, as a percentage of their population, more than any other online ethnic group. If your brand has nothing to do with entertainment, you may want to consider adding an entertainment element to your site--or advertising your site on an entertainment site frequented by these consumers.
Sources: AOL, Comscore, US Census Bureau