Hispanic consumption patterns are different from other markets, according to new Nielsen report

Hispanics are an important growing market in the US and are essential in future business success, according to Nielson, which released on Tuesday a report entitled The State of the Hispanic Consumer: The Hispanic Market Imperative. Hispanics’ projected spending power of US$1 trillion in 2010 is expected to increase by 50% to $1.5 trillion in 2015.“The Hispanic community in the United States is large and growing, and businesses must make strides to understand and engage these consumers,” said Susan Whiting, vice chair of Nielsen. “Due to the general youth of this segment, family focus, strong culture and prevalent Spanish-language use, Hispanic consumers are impacting all areas of work and play and helping to redefine American culture in the 21st century.”Closely examining Hispanic media and buying habits and behaviors, the report reveals how the Latino population will continue to grow, how Hispanics sustain their culture, and how their consumption patterns are different from other markets, among other insights.