Hispanic Trends: Making Sense of Enormous Technology Spending Power
Zpryme Research and Consulting just released the results of a great survey concerning Hispanic mobile consumer trends. While the INFOgraphic is loaded with several great facts showcasing the Hispanic spending power on mobile devices, the following is a short rundown highlighting the areas where Hispanics are over indexing on their mobile usage and spending.
The INFOgraphic breaks down the Hispanic market’s spending on technology and illustrates the areas Hispanics are ardently spending. Hispanics currently hold the title for the most wireless demographic:
- 93.9% of Hispanics own cell phones, of which 51.1% own smartphones.
- 69.7% of Hispanics own laptops. Hispanics utilize laptops for various internet activities including social networking. Of the 86% of Hispanics on social networks, 79.4% use Facebook.
Zpryme projects Hispanics will spend $501.1 million this year on mobile applications alone. Hispanics will accomplish this by spending a small amount frequently, 48.8% of Hispanics typically spend $1.00 or less on a single application, and by quantity, over 30% have purchased applications recently. The most popular app purchases are games (48.3%) and music (41.3%).
Despite general assumptions that Hispanics prefer apps and communicating in Spanish, English dominants the language on mobile applications (of which 84.1% of Hispanic’s purchased applications appear in English) to communication over the internet (80.8% of Hispanics communicate via the Internet in English).
Top Hispanic Internet activities include:
- Emailing (83.3%)
- Social Networking (66.5%)
- Viewing Videos/Listening to Music (52.4%)
- Paying Bills (48.9%)
Zpryme projects Hispanics will spend $17.60 billion dollars this year on mobile tech devices, a 30% growth over 2011 spending. Over the next six months, 24% of Hispanics are more likely to purchase a smartphone over other types of devices.
“The enormous spending power, of Hispanics, is why marketers need to consider targeting this important segment during their budget planning,” said George L. San Jose , President and Chief Creative Officer of The San Jose Group.
Since Hispanics will spend 17.6 billion dollars on mobile tech devices in 2012 and $501.1 million this year on mobile applications, they are giving marketers a huge opportunity to reach consumers via the internet and apps. Savvy marketers should consider budgeting dollars toward mobile efforts such as app designs, research and development, targeted ads based on language, developing a Facebook/social media strategy and internet sweepstakes/contests to engage the Hispanic market. With a high index of Hispanics consuming mobile tech devices, marketers must direct ads to the Hispanic market on mobile platforms or they will miss out on a cut of the $17.6 billion.
Remember, making yourself mobile is making yourself marketable.
Click here to view Zpryme Research and Consulting’s “2012 Hispanic Mobile Consumer Trends” INFOgraphic.
Zpryme Research and Consulting. (2012). 2012 Hispanic Mobile Consumer Trends. Retrieved from http://zpryme.com/hispanic_insights/Hispanic_Mobile_Consumer_Trends_2012_INFOgraphic_Zpryme_Hispanic_Insights.png