Acxiom Study Reveals Emerging U.S. Hispanic Market Rapidly Changing and Brimming with Opportunity
08 Juli 2009 - 5:21PM
Business Wire
The rapid expansion of Hispanics into American suburbs presents
sizable opportunities for marketers who understand the rich
cultural diversity and purchasing attitudes of this segment,
according to the latest Consumer Dynamics study from Acxiom�
Corporation (Nasdaq: ACXM).
The study, titled �Getting Into the
Market Share Race With the Emerging Hispburbanite Market,� taps
into the explosive growth centered in 10 markets:
�
The study reveals:
- Hispanic suburban expansion is
projected to continue.
- The Hispanic market encompasses
four distinct Hispburbanite groups.
- Marketers have above average
growth opportunities in areas with high concentrations of
Hispanics.
- Marketers should segment this
culturally diverse group for maximum marketing impact.
The study shows Hispburbanites differ from Hispanics living in
the main port-of-entry cities of New York, Los Angeles and Miami as
they tend to be younger, more acculturated, single and wealthier.
They tend to fall into four distinct groups:
- Upstarts and Upbringing �
Made up of some of the younger Hispanic households, this is the
most acculturated of all groups. They primarily speak English away
from home and are a mix of singles and recently married couples,
some with young children.
- Trendy Traditions � A
somewhat younger mix, this group is mostly single and childless.
Though slightly less acculturated than Upstarts and Upbringing,
this group prefers American name brands and brand-name
bargains.
- Recent Arrivals �The
least acculturated of all groups, these households more frequently
comprise immigrants who have resided less than 10 years in the
United States. They prefer to speak Spanish at home and away, and
are primarily single renters with low to middle incomes.
- White Picket Fences � A
married and single mix of adults with above-average income makes up
this group. Often owning their own homes, these households are more
comfortable with financial institutions than other groups and are
building net worth. This group is primarily English speaking and
while they do save, their incomes allow for plentiful shopping,
especially for jewelry and business clothing.
Overall, Hispburbanites tend to be mostly second- and
third-generation Hispanics with increasing consumer buying power.
�This market represents tremendous opportunity for companies across
industries,� said Louis Rolleigh, Acxiom�s senior manager for
analytic, geospatial and segmentation products. �Segmentation
allows marketers to target initiatives that encompass cultural
preferences based on the characteristics of the defined consumer
groups.
�Intelligent marketing decisions will maximize results, greatly
improving return on marketing dollars spent,� added Rolleigh. �At a
time when marketers are under intense scrutiny to produce
measurable results, this study provides invaluable consumer
insights.�
This Acxiom consumer dynamics study is powered by PersonicX�
Hispanic, which provides precise, accurate and actionable
household-level segmentation that can be aggregated by
characteristics such as age and acculturation, providing the detail
necessary for sophisticated consumer analyses. For more
information, visit www.personicx.com.
About Acxiom
A global leader in interactive marketing services, Acxiom
connects clients with their customers through deep consumer
insight, powering effective and profitable marketing initiatives
and business decisions. Our consultative approach spans multiple
industries and incorporates decades of experience in consumer data
and analytics, information technology, data integration and
consulting solutions for effective marketing across digital,
Internet, email, mobile and direct mail channels. Founded in 1969,
Acxiom is headquartered in Little Rock, Ark., and serves clients
around the world from locations in the United States, Europe and
Asia-Pacific. For more information about Acxiom, visit
www.acxiom.com.
Acxiom and PersonicX are registered trademarks of Acxiom
Corporation.
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