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The U.S. Census revealed final population counts for all U.S. States. There are currently 50.5 million Hispanics living in the U.S. according to the 2010 Census. Hispanics account for 56% of overall population growth since 2000. The results validate more than ever the rationale to market to the Hispanic demographic. As newsweekly The Week summarizes in its first of six U.S. Census Takeaways.: America’s Hispanic population is booming.
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Mexico Consumer Buying Patterns - With a population of more than 112 million people and an area about three times the size of Texas, Mexico is a vast country. As the second most populous country in Latin America and the most populous Spanish-speaking country in the world, it is a vital market for marketers and consumer packaged goods companies to understand. But to view Mexico’s consumers as uniform in their shopping habits and trends would be a mistake: consumption patterns vary widely based on where people live. Retailers and CPG manufacturers seeking to win in this diverse nation would do well to appreciate its regional diversity.
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Remittances to Mexico by Federal Reserve Bank of Dallas 1Q 2010
Mexicans living in the U.S. are sending less money home. In 2009, remittances to Mexico totaled $21.5 billion, a 15 percent decline from 2008. With the exception of October 2008, remittances have been decreasing since mid-2007. Remittances represent significant income for Mexico’s economy. In 2008, inflows of $25.3 billion equaled roughly 3 percent of Mexico’s GDP and nearly 60 percent of oil-export revenues, and they exceeded foreign direct investment by 30 percent.
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