Los Influyentes: The Rise of Hispanic Affluents in the U.S.

Revisit our on demand webinar to hear our latest insights exploring Hispanic Affluents in the U.S.

The author(s)

  • Kip Davis Insights Director, Ipsos Affluent Intelligence
  • Ingrid Carrete Director, US, Media Development
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One-in-five Affluent Gen Z’s are Hispanic Americans, compared to only 1-in-15 Boomer/Senior Affluents. These young Affluents are part of the rising “Influyentes” broadening American culture as more Hispanics attain economic power and break into the ranks of the top earning U.S. households. These influencers are changing perspectives about Hispanic culture and expanding the mosaic of Affluent life in America.

Listen in as Kip Davis, Director of Insights for Ipsos Affluent Intelligence and Ingrid Carrete, Director, Media Entertainment and Platforms share findings from our recent Ipsos Affluent Barometer and Affluent Survey on the importance of multicultural marketing to Affluent Americans. This is another in our series focusing on the increasingly diverse and somewhat hard to reach affluent American consumer. During this session, we explore how:

  • Affluent Hispanics differ demographically and attitudinally from non-Hispanic Affluents
  • The Affluent Hispanic population is far from monolithic and how marketers should be cognizant of the nuanced differences between different Hispanic populations
  • The experience of Affluent Hispanics is unique as they break into areas where previously there were few non-white adults
  • Language impacts marketing strategies
  • Best to communicate efficiently and effective to this important consumer group

Today’s AI-generated audio transcript is offered below. Apologies in advance for inconsistencies that have been included.


Thank you for joining us for today's webinar, Exploring the Rise: Hispanics Affluents in the US.


Today's presentation is being given by Kim Davis, and Ingrid Carrete. And you can read more about them on the slide in front of you.


Throughout today's session, you will remain in listen only mode, however, throughout the webinar, you may submit questions online using the Q&A feature. Time permitting, we'll answer questions at the end of today's session, However, if time ran short, then your question will be answered by e-mail.


I also encourage you to check out the handouts we've uploaded into the webinar control panel.


Today's webinar is also being recorded and will be directly e-mailed to you.


Now, without further ado, it is my pleasure to introduce today's first speaker, Kip Davis, Director of Insights with ... Audience Measurement Team.


Welcome to our presentation on those days. Still, you can concentrate on the data that we want to present today.


Both Ingrid and I are going to go off camera, and we will return for questions at the end.


So, let's get started.


We're here today to talk about most including EMTs, the rise of Hispanic absence in the United States.


If you think you know, affluent Hispanics think again, there is so much more to know about this group and their influence and impact on the landscape.


Affluent consumers in the United States from their size.


Affluent Hispanics represent the largest affluent subgroup in the United States.


To their internal diversity, they represent many countries and cultures to their strength in the marketplace, outpacing other groups in key categories like travel and entertainment.


Hispanic affluence are changing the face of asthma in the United States.


Next slide.


We are here today to talk about Los ... the law.


Hold on one second.


We will cover a lot of information in the next hour.


We hope you'll you will come away from this presentation with a greater understanding of this group and with enough insights to help you engage them as consumers.


For those of you who are new to the Ipsos Absolut Intelligence in our group, you may be first wondering, why focus on the apps?


They hold 70% of the country's net worth, despite representing only 20% of the US population.


Where does our data come from?


The insights that will present are primarily derived from two sources. one are ongoing Ipsos affluent study USA.


Along with an in-depth study that we conduct every quarter as part of our Barometer study.


Our US Affluent Survey is part of ..., 49 country global effort to provide clients with a total understanding of affluent consumers, who they are, what they buy you, and how they think, and ultimately, how to effectively reach them, speak to them in the most persuasive way.




Next slide, please.


We have been measuring the attitudes, behaviors, and preferences of the affluent for 46 years.


Me personally for over 30, when the qualifying household income was $60,000 a year, the survey was conducted through the mail and we didn't even asked our respondents race or ethnicity. Because it was assumed that almost all affluence were white.


We, like the affluent market, we have evolved, and as a result, are still, you're absolutely experts.


We're going to cover a lot of information today.


Oh, sorry.


We are in an enviable position of helping clients, what the evolution of the affluent market into perspective.


Since our Ipsos Affluence study is the longest running and most widely used study of affluence in the United States, How because we are literally interviewing virtually every single day, releases in Spring and Fall for each year, combined 12 months of continuous Fielding.


So, our latest Spring release, bows of data from all 12 months from January to December 2020.


Because of the relative size of our audience, we're also able to touch in quarterly with our respondents, to get a pulse on in-depth insights, on a range of subjects, such as finances, travel, smart home, technology, politics, and other topics of interest.


We can call these we call these are our quarterly barometers. In the most recent barometer we reached out to an oversample of affluent Hispanics.


Data from our barometer is part of today's presentation.


Next, please.


Adding to this knowledge base is data from Ipsos TV Dalys, which measures Media content 9765.


The online survey interviews 6000 respondents ages 13 364.


DVD Daily's covers multiple standard KPIs, such as awareness, intent, attribution viewership, and much more, running for over 15 years with powerful normative data.


Our clients choose what content to measure by submitting titles of interest, be premier to live, and we have the opportunity to submit to submit custom targeted questions as well.




We're going to cover a lot of information today about affluent Hispanics.


We will begin with a broader discussion of affluent Hispanic growth.


Followed by a profile of Hispanic affluents, their attitudes and opinions, consumer habits, travel and entertainment, the impact of ethnicity on their sense of status and belonging, and medium behaved.


Finally, we'll try to summarize all of this, some salient takeaways for everyone.


It's a lot to cover. So let's get going.




Let's look at the growth of affluent Hispanics.


Using data from the US.


Census Bureau, we see that affluence had steadily increased its penetration into the Hispanic population over the past several decades when ...


over that period.


In fact, every affluent Hispanic generation is larger than the one before it, please note that affluent Hispanics and make up a fifth of all Gen Z options.


With this kind of generational growth, the percentage of affluent Hispanics would only increase in size over time.


one of the factors leading to that growth can be tied to the increase in those with four year college degrees.


I'll now turn the presentation over to Ingrid, correct?


A Director of our Content Strategy group specializes in developing and executing research studies among multicultural consumers.


She will give you a greater sense of who these affluent Hispanics are and how they see themselves in the world.


Thank you. So, let's keep moving, now. Let's take a closer look at Hispanic, African consumers and let's cover some of the basic demographics what we receive, all the time, our Hispanic offline consumers similar or different to the United States. So, let's take a look at that.


There's the composition of Hispanic affluent consumer difference from the US. Hispanic population in terms of ancestry on content and country of origin.


As, you know, just Joyce expanding our analytic rule.


In fact, they come from different countries, and they represent the values and the way of many cultures across Central and South America, Spanish population. In the United States, about 10 of them are of Mexican ancestry, uncontained, country of origin. But this is represented among the Hispanic affluence.


What did they account? For? nearly 50% of the African group, while per weakens, Cubans, and Hispanics, coming from other countries in Latin America, are overrepresented.


As we know, Hispanic of any race of any race, actually, nearly 8 10 Hispanics, Affluenza, describe as white or Caucasian, while one, **** self described, as Afro.


The high percentage of those who self identify as White impacts their response to a Hispanic and their impact of the ethnicity section that we'll cover later on in the presentation.


Now we just want to make reference that throughout this presentation, we're going to talk about, for comparison purposes, we're going to talk about different ... groups when we were later on to why ..., we were referring to the non hispanic ... groups that fall within these rate.


With that, let's keep moving.


In terms of geographic distribution, must Hispanic reside on the West out on the West Coast are South? But they spent a weekend descends ancestry, They tend to concentrate in the mid atlantic and sat at the Arctic region.


As a married, her concentrated in the South Atlantic, Mexican ancestry, and the sand are mostly likely to be found on the West, South Carolina States like Texas and also on the Pacific region, such as in California, Oregon, and even in Washington state.


A lot of the questions we receive is income something term like that.


A lot of people tied the language use such at home to acculturation when they speak at home.


Today, 16, 10, African Hispanics, a Saturday speak a language other than English at home, And this, essentially, to a larger degree than other demographic groups, like ..., For example, 60% of them of Hispanics speak a language other than English at home, compared to 54% for Asians, something to consider what this is something to consider, what message into the Spanish gasoline consumers. As 40% of them, they say that they only speak English at home, but the majority of them, 51%, are considered impulse, meaning that they speak boldly Spanish and English to different levels of degree.


Finally, spanning Star Also younger than Other Offline soaps group, including those from Asian those, like Asians blacks, highlighting the growth share of Hispanic waffling within the younger generations. When it comes to gender, as Y, F Y, Spadix are more likely to be male.


All groups, at parity with two children at home, as long as Hispanics are the most likely to leave with a child or the dean at home.


Mary, in this data with the previous slide, you can see Affluence, Hispanics are very attractive target their younger consumers with yogurt kids at home, and they will be in need of many products and services targeting that type of demo. Family vacations or saving accounts to send their kids to college and so on.


In terms of their financial basics, both the median household income and net worth have been growing for offline Hispanics in the last eight years in, particularly when it comes to household work. That grew 78% from 20 11 to 20 21.


When we look at the income breaks within the Hispanic affluence, interested in the distribution of household income or affluence, Hispanics, that of the non hispanic group with a little over 40% of ... groups, they span again non hispanics with an income of $200,000 or more per year.


You're just good enough.


What we see is that when you look at the income breaks, winning offline, Hispanic subgroups cubana out of the most affluent by the ..., that they, nearly half of them, right. They, they were starting households, May one thousand dollars or more per year.


Those of Mexican ancestry, they're underrepresented on that income bracket.


Interested in now being offline to send your experience for three quarters of Hispanics. They can best be described as first generation affluence.


In fact, most of them grew up as far as the middle-class, nearly one of every 4 F 1 Hispanics, do they grew up in our house so that they describe a score or, you know, working.


This group is achieving more financial success than previous generations of Hispanics, because it's nurse slides.


We're looking at the percentage offline consumers who are small business owners, as E spanning side of the most likely group. to be a small business owner. In fact, there are two times more likely than non hispanic whites and nearly three times more likely than non hispanic Asians to be small business owners.


When it comes to other financial, basic information, like real estate, Alpha and Hispanics don't stand out in terms of the value of the real estate, both principal, residence and other real estate.


These might be a reflection of the housing market, where offline Spanish are located, as, as a reminder. Most of them are, a lot of them are concentrated in a state, like California, Texas and Florida.


Archiving likes, fire, reject real estate values.


In terms of ad is just an opinion.


When it comes to the top issues facing the US. Today, inflation and economy, right within the top three reasons among all affluent subscripts. So there are important differences on what is considered important than among affluent soap scopes.


As parents with younger kids, Hispanic affluence, or the most likely to be concerned about education and Supreme Court appointments, we think about it, all those these type of issues that will have impacts to the younger generations, and as as they will be growing in a different environment, right? Like they have to fire at the patient and the related ammunition will have on a strong impact as they get older.


Africa, like those athletes who are black, are more likely to be concerned about racial inequality and voting rights. Those correlations are there more about healthcare. We think about an ... also tend to be a little bit older than other effluent subgroups.


We see that the diversity among African Hispanics, when we look at their political beliefs and their party affiliation, as a reminder, Hispanics come from many different countries, have different values. So when we look at the political identity.


Hispanics, Affluence, expand evenly across the spectrum of no goal beliefs.


We can they say, are the most liberal and Democratic, while those of Cuban descent tend to be a little bit more conservative and Republican.


When you think about the primary elections, midterm elections coming up, and Puerto Ricans are mostly clustering the north-east Cuban in Florida and Mexicans are mostly closer in the west or in the Pacific region and in the Southern state like Texas, Arizona, and California.


All these will have implications in the way that they, a boat, and for who they will quit.


As we look at the, in terms of psychographics, the afternoons Hispanics are more likely to over index in a statement that ... emphasizing, individuality, such as they stand out from others, MRE, sticker, and anything related to their Ernie ethnic heritage, such as cultural or ethnic heritage, is an important part of their life.


In terms of cultural identity, When you think about offline Hispanics, most of them, 6% of our self describe out the beauce Latino, American, meaning, they're navigating both cultures in the United States.


In fact, many of them are retro trading, nearly half of offline Hispanics feel connected to the cultural had, carried touched on their pairing date.


And if we look that number compared to blacks donations, we see that Hispanics feel these way to a larger degree, the other affluence groups, both likes in Africa and Asia.


Cultural heritage influenced many aspects of their lives from their use and the way they see the world to the language they watch, the music they listen to, And this extends to many more aspects of their lives, like the way they dress, and therefore, they eat, and cook at the type of food that they cook at home.


Moreover, something that is, that has implications today, is that F launched where they, across the board, it doesn't matter either Offline, Hispanics, Asians, they feel that is easier to express their cultural heritage these days, that was some of previous generations.


Again, these holes across all these groups, right?


What is interesting is that as more Hispanics are accounting for a larger portion of the affluence in the United States, and they are, they feeling, that they can express moral their culture these days, and they, they know, like their parents before the previous generations will have applications in a lot of aspects or all personal library in the mainstream.


You know, I just, I guess, just think about the music that you're listening to these days, the food that you're eating while you're drinking.


Um, all that is acquired some of the Spanish heritage, or especially on the food and on the music, they're ringing and sharing that experience in the rest of they, do you know, the affluence or the population of the United States.


Now, keep, let us move to consumer habits. Sure.


It's within consumer habits that we start to see the strength of the affluent Hispanic american consumer.


Next slide.


You see here that affluent Hispanics spend more on average in many categories, including leisure and entertainment, travel, apparel.


The higher level of expenditures may be a reflection of the larger family size, particularly for travel and leisure. In other areas, it may reflect a focus on presentation in a world where acceptance is not always a given.


Affluent Hispanics tend to be early adopters across most categories, especially in entertainment, media, electronics, apparel, and watches. They are truly los.


Include yet this with influence that extends internally in areas such as skincare and apparel and externally, particularly in the realms of entertainment and media.


Fashion and a sense of style are especially important For affluent Hispanic consumers.


The importance parallels what we have found an earlier work among affluent African Americans were presentation is an important part of demonstrating what status as athlete.


Note the consumer attitudes of affluent Hispanics towards technology where their passion mirror's their spending.


This may be a reflection of their youth.


It will be interesting to track gen the Gen Z cohort, as they age, to see if these as to persist, as they age, the preference for videogaming over other forms of entertainment, in particular, and provide marketers with a very effective path to reach these young, passionate consumers.


Affluent Hispanics have a more intense relationship with advertising, both in terms of impact and co-operation.


They are more willing to buy a product simply because the advertising is good, and are more willing to share that information with an advertiser in exchange for personalization.


They also hold positive attitudes toward companies that support their communities and show a commitment to corporate and social responsibility.


With 75% of affluent Hispanics being first generation affluence, they provide a unique opportunity for financial services being both more likely to be seeking financial advice and more likely to give it.


As the first, they are a unique, unique position to be influenced and to be influencers.


Even as we tentatively move past cov it, travel remains an important category for affluent Hispanics.


They travel more and spend more on travel than total athletes and have behaviors that are unique to them.


Using frequent flyer points for business travel for personal vacation stands out with affluent Hispanics, as does using all inclusive travel packages.


The use of frequent flyer miles for personal use may impact the nearly 60% of its patents who say that they enjoy traveling for work.


Vacation plans for affluent Hispanics are on par with those of non hispanic gaps.


Three quarters of affluent Hispanics plan on taking a vacation within the US this year and nearly a third plan on taking a cruise.


Nearly 50% of Hispanic Americans plan to take a trip outside the United States.


Reflecting on the importance of their cultural heritage, affluent Hispanics are more interested in culture in the arts.


Also, note their interest in sports. As you will see in, later in the presentation, that interest is not reflected in TV viewers.


But he is online.


We're watching live sports.


Affluent Hispanics lead slightly in admission fees, nightlife, sports, and shows, in terms of the percentage who attend.


The more striking difference is in the dollars spent.


The larger family size and higher percentage of families with children under 18 may impact expenditures with more people in each tending Fruit.


Let's send it back to Ingrid for the last two sections.


Thank You, Kim.


So, now let's move to the impact of ethnicity on consumer attitudes.


For that, we are going to be looking at some of the information we capture to the barrel meter deep dive conduct in the second quarter of 2022.


So, what we feel like we asked respondents if they have been denied access because of race and ethnicity, and have most of them have been denied.


Denied access, right, The data shows that, compared to blacks and Asians, affluent Hispanics feel they have felt discrimination at greater levels of income.


Such as health care, education, or housing, especially within the past year.


Interesting enough for most affluent Hispanics have an experienced denial or access to services, they do encounter, is stereotyping and profiling in everyday life. but the disparity of extreme experience of stereotyping under the narrow box and it seems to be a roof.


I reflect in a distinction between active and passive discrimination, with a passing seeming to be far less prevalent.


Now, let's look at media behavior. Now, and if you want to connect to these offline Hispanic, right, and you'll want to connect with these market, where do you find them?


For this section, we actually look at information from TV dalys, just to help us contextualize some of the needs.


What we see is when in terms of watching TV, African Hispanics are less frequent TV viewers than non hispanic affluence, does not want that non hispanic African Hispanics.


All right.


More likely to be watching TV, seven days a week or more.


Hispanics are more likely to over indexing, watching 3 to four times per week or less.


And if we look at that and then we look at the devices that they used to watch TV, as non hispanic affluence, the majority of affluent Hispanics they they watch content on a smart TV but excited the most likely to watch TV on a wider range of Internet enabled device included Amazon Fire, Google Chromecast, on tablets, and are less likely to watch content on TV sets that are not internet connected.


When it comes to subscription to streaming services, wow, is the affluence Hispanic offer opportunity to grow here because they have lower subscription compared to non hispanics?


This a little bit, because, what we see is that, from other studies, right, we also see that Hispanics password sharing. So, that might be an indication while the subscription rates are a little bit lower. Meaning that one of the house from I subscribe to one service and another person that was not interview, right, My subscribe to another service, so that when we went over there, we wanted to point that out.


They seem like, at the personal level, they still offer an opportunity to grow a subscription to a streaming services.


Now, that I suggest that, also that I find Hispanic are more reachable to three digital media, Anto, TV, in fact, they spent a slightly more time online for a week that the non hispanics.


As many Hispanics are more likely to engage the non hispanics on our wider range of online activities, included video chats, listening to music, watching TV shows, movies, or sports online.


Fact, that's one. Is that across all media behaviors online, particularly those related to listening to me, I'm doing content.


If there's some type of video content that they watch, most affluent Hispanics watch Action Adventure, comedy and drama, and they tend to be as likely as non hispanics to watch other type of content like documentary, documentary history, anything related to antibiotic pads, travel, and future films.


When it comes to their social media, attitudes, affluenza Hispanics are more engaged with social media.


The non hispanics are, African Hispanics are more likely to use social media to connect with brands to keep informed, to engage with others.


These, along with information shared before, suggest reaching out to the offline span extra digital platforms are the way to engage and communicate your brand and your services with these customers.


Now, we're coming almost to the end of our presentation, and we wanna spend some time just to summarize some of the key findings and to highlight some of the areas that we'd like you to take away from this presentation.


Now, what we see is a key takeaway among African, Hispanics first thing to remember is the growth of the offline.


Hispanics: The portion of Hispanic, it has increased dramatically.


Each generation, A quarter of an Apple II, Spanish, are first generation excellence with such rapid world, as Hispanics, would only become more important segment to target when thinking about which is on consumer spending in The United States, Moreover, there, very failure is for Hispanics are leading us vendors in multiple categories, included of those relate to expanding our home and travel.


With young with I'd younger age.


That's younger kids and spending after a Spanish shall be a key component of any marketing strategy targeting affluent customers.


Within travel and entertainment, embracing travel for work and leveraging that travel into vacations is a key element of the affluent Hispanic travel.


That, along with the increase in spending for a larger family size, are key drivers in travel in energy.


In terms of media, even with a high percentage of affluent Hispanics who are bilingual, the vast majority can be reached through English language media.


As they are heavy users of new technologies and platforms. Digital and social media should be used to engage them over TV with their strong connection to their cultural heritage. The influence this heritage has over their everyday lives, authentic representation, is key to effective communication.


Thank you.


Any questions?


Do you anticipate that attitudes and behaviors of affluent Hispanics who are currently gen Z will change as they age?


I think so, I think. There's going to be a real separation once we have greater representation of affluent Hispanics in the different generations.


And at that point, it will be far easier for us to be able to separate behavior that's primarily associated with age, as opposed to distinct characteristics that are cultural and a reflection of Hispanic heritage as the generations age.


Anything else?




Here's one.




Someone just liked the presentation. Thank you very much.


We really appreciate it.


Now, we want to thank you for attending, and at this point, we'll turn it back over to Elen, who will be able to give you information on how you'll be getting copies of this recording afterwards.


Thank you.


Well, wow, thank you, Kim. And thank you, Ingrid, for today's really interesting presentation that covered a lot more than I expected and thank you everyone for joining us. And if you have any more questions, please feel free to reach out to us at any time and you will be receiving an e-mail with a direct link to today's recording presentation. Be on the lookout for that later this week, and at any time, please, download the reference materials we've put into the webinar console to learn more about the research we shared today.


That now concludes today's webinar. Have a wonderful day, everyone.

The author(s)

  • Kip Davis Insights Director, Ipsos Affluent Intelligence
  • Ingrid Carrete Director, US, Media Development

Media & Brand Communication