Have you met the ‘Upscale Hispanics’? Or maybe you’re one of them. Apparently, there’s such a group. According to HuffPost Latino Voices, this chunk of the U.S.’s Latino population is being called the most influential since the baby boomers, accounting for 29 percent of the overall Hispanic spend in 2012.
The term was coined late last month by a new Nielsen study presented by AHAA, The Voice of Hispanic Marketing. ‘Upscale Hispanics’ earn annual household incomes between $50,000 and $99,999 and reportedly account for 15 million of the overall Hispanic population in the U.S.
By the end of this year, this consumer segment is predicted to command up to 40 percent of Hispanic spending power.
So who are these Latinos? According to the study, they’re young, family driven and 60 percent of them live in the Southwest Pacific region, mainly Los Angeles.
Many others are spread throughout the U.S.’s top Latino markets, including New York, Miami, and Houston.