With the 2010 U.S. Census statistics release, comes a large amount of analysis and a significant amount of useful information. I just came across an interesting article in this week’s edition of Advertising Age that is worth a read.
While the entire article is very interesting, I will give you a few points related to the Hispanic market that were mentioned—I don’t want to spoil the ending.
– Minority populations grew eight times faster than the majority white, non-Hispanic population.
– Hispanics are more highly concentrated than the headline about their rapid nationwide growth would suggest.
– The Asian population is the fastest-growing racial or ethnic group in the U.S., and it is even more highly concentrated than the Hispanic population.
The rapid growth of minority populations and the Hispanic market is not much of a surprise, however the level of growth in the Asian population may have surprised many. The Hispanic market in the U.S. now exceeds 50 million and is well documented as an important part of the U.S. market, while the Asian American focus is most definitely not as strong.
California is solidly in the lead position in terms of U.S. population percentage for Hispanic (27.8%) and Asian (33%) populations. While the location of the populations are important, there is vital information available about everything from household make-up to household income, which is being studied by the marketing community. For more information about the 2010 Census, some additional resources include Census 2010, AdAge, and Pew Hispanic.