Hispanic marketing research firm Garcia Research and Hispanic marketing consulting group Santiago ROI have launched Latinomics, The Hispanic Market Index. This tracking service monitors consumer sentiment, economic activity, political perspectives and other issues within the US Hispanic community.
The first wave of interviews was conducted this month across 600 households — 400 by phone and 200 online.
Latinos are closing the year with mixed feelings about their economic well-being, according to the initial findings. Half say their families are making less income this year than last, a third are making the same and one in seven are making more. Given this data, six in 10 said that they would spend less this holiday season than last year.
“Hispanics have been hit hard by the great recession,” Carlos Garcia, president of Garcia Research, said in a statement. “The lowest income, Mexican-origin, mono-lingual Spanish segment are seeing the worst of it.”
The 46 million Hispanics living in the US accounted for $980 billion in buying power last year, according to market research publisher Packaged Facts. The firm estimates that Hispanics will reach $1.3 billion in buying power by 2013.
Calls to Garcia Research and Santiago ROI were not returned by press time.
