Tuesday, October 13, 2015

Hispanic Consumer- Latinos 50+: Healthy, Wealthy and Wise

According to Nielsen’s Hispanic Consumer Report, Hispanics over the age of 50 are a growing group in an increasingly younger multicultural society, and are exerting cultural, economic and political influence on the evolving U.S. mainstream. This year’s report examines trends in content consumption, purchasing power, media engagement, population shifts and several other new perspectives based on collective areas of press interest. Key findings include:

Hispanics Have Health, Wealth and Time On Their Side:

  • Latinos’ Healthier Choices Leading to Longevity
  • Hispanics have lower mortality rates in seven out of the 10 leading causes of death in the U.S.
  • In the first few years after immigrating to the U.S., Hispanics also tend to have lower smoking rates, better diet and better general health. This is translating to Hispanics living longer and having healthier, more active lives.
  • Today Hispanic-Americans life expectancy is 83.5 years compared to 78.7 for non-Hispanic Whites. This means more buying and viewing power, for longer.

Longer Lives and Earning Years Yield Financial Growth

  • Forty percent of Hispanics ages 55+ lived in multi-generational households in 2013, compared to just over a fifth of the total population in that age group.
  • Communal living arrangements provide some significant mutual benefits when it comes to caring for children, cooking, transportation, and shopping. This means greater disposable income, more shared meals and family experiences as well as unique watching and buying behavior.
  • Percentage of households headed by Hispanics ages 50-69 who earn 75,000+ saw a sharp increase from 2000 to 2013. All income brackets above $50,000 showed an increase, while the percentage of those earning incomes under $50,000 decreased.
  • Buying and shopping decisions are communal decisions, led by older Hispanics and often relatives of other races and ethnicities extending and amplifying their shopping habits and choices across a wide spectrum of products and services.

Patriotic Swing Voters:

  • Hispanics 50+ will continue to see their political clout increasing in future elections as the size and growth of the Hispanic population fuels an overall rise in Hispanic voters; those 50+ could be the decisive swing vote in many local and state elections.
  • Top issues in order of importance for registered Hispanic voters are education, employment, the economy, and healthcare.
  • Nearly three-quarters (73%) consider immigration very important, or extremely important.
  • The older Hispanic population is concentrated in four states: California, Texas, Florida and New York, which have 55, 38, 29 and 29 electoral votes respectively. 

For more information, please check out the full report here, visit the Nielsen Wire for Wire posts on the report, check out the Nielsen Hispanic-Americans microsite, or visit Nielsen Community Alliances YouTube page which features a video vignette on some key highlights from the report. Please feel free to share any of this data with your readers, citing Nielsen and linking to the article. If you’d be interested in speaking with Monica Gil, Senior Vice President & General Manager, Multicultural Growth and Strategy, about this report, we’d be happy to coordinate an interview.

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