The Growing Power of Hispanics 50+

Much has been said about the youngest populations of Hispanics in the United States, because the Hispanic community ranks among the "youngest" in the nation. However, little has been said about Hispanics 50+, an age group that currently represents 11 percent of the total "aging" population in the United States, which will jump to 24 percent within the next decade or two.

A new report by Nielsen, supported by both the American Association for Retired Persons (AARP) and the Hispanic Federation, found that Hispanics 50+ have a bright future ahead of them with growing cultural, economic and political influence. These findings send a strong message about the new role Hispanics will have in our society, and illustrate that the time has come to recognize the significance of Hispanics in the 50+ age range.

According to the report titled "The New American Vanguard: Latinos 50+ Healthy, Wealthy and Wise", Hispanics 50+ are considered the "Pioneer Population" of the Hispanic community. In other words, they are the trailblazers who were often the first in their family to attend college, join the military, and establish their own business, among other milestones. It is a diverse population, with approximately half born abroad, and the other half born in the United States; with more than two thirds of those born abroad, having spent half of their lifetime in the US.

So we speak about a generation that is highly acculturated, and brings a vital stability to our community. The report indicates that the poverty rate among Hispanics 50+ is declining, and that on average, they are financially better off than their children. In addition, Hispanics 50+ tend to live in multi-generational households where the salaries of all members combined, increases the family's purchasing power to higher than other populations.

The report also shows that Hispanics 50+ are the cultural "anchor" of Hispanic families, passing their values and cultural identity to their children and grandchildren. "Older" Hispanics tend to spend more time on social networks, listen to broadcast radio, watch more television, and buy groceries in larger quantities than other groups 50+, and not surprisingly, they are part of a growing voting bloc as reflected in a 56% voter-turnout in the last presidential election.

In short, Hispanics 50+ are active individuals committed to traditions and culture, passing their buying patterns and media behavior to new generations. Thus, Hispanics 50+ can no longer continue to be ignored by service providers, product manufacturers, marketing and media companies, and elected officials and governments.

When candidates, organizations and companies want to earn "their share" of the Hispanic market, it is vital that they first establish a dialogue to engage Hispanics 50+. For such dialogue to take place, they must first know how Hispanics think, what do we watch or listen to, and how do we make our choices. This information is contained in Nielsen's report; the company's first ever to focus on the Hispanic aging population.

To review the details of this encouraging new trend in the Hispanic 50+ populations, contained in the Nielsen report, click the link that follows: