Why should you translate your site into Spanish?
- The Hispanic population in the U.S. has grown to over 40 million in 2004 (two thirds of Mexican origin).
- It is relatively young and growing fast.
- Purchasing power has increased 157% over the last seven years and is currently over $450 billion US per year.
- Spending is expected to reach 1 trillion dollars by the year 2010.
- The population size makes the U.S. the third largest Hispanic country in the World.
- By 2050, it is estimated that the non-Hispanic white population will be in the minority in the US.
- In order to remain competitive, companies must gain a real understanding of the Hispanic consumer experience and purchase orientations.
- Translating your site into Spanish will also establish your company’s presence in the global Hispanic market, allowing you to reach customers in Spain and in Latin America.
U.S. Corporations are beginning to create Hispanic websites:
Major U.S. corporations are beginning to realize the potential of the U.S. Hispanic market and are responding by creating websites targeting Hispanics online. However, there is no standard way to indicate the Spanish version of a particular website and many of these sites are not optimized for the Hispanic search engines. To reach most of these sites, Hispanics must type in the English version and search for the “en Español” text link, which is far from ideal.
Hispanics share a common language:
88% of U.S. Hispanics learn Spanish before they learn English and continue using Spanish in the home, at school and at work. As a result, advertising to Hispanics in Spanish is 69% more effective than advertising in English, according to the 2002 Hispanic Monitor report.
Most Hispanic adults would prefer to use the Internet in Spanish if they had the choice. However, many U.S. Latinos report that they do not find information in Spanish that is relevant.
An interesting side affect of the current lack of quality Hispanic websites in Spanish is that it has brought the U.S. Hispanic population online together. According to comScore, the top ten Spanish language properties reach more than 91% of Hispanic internet users that prefer to surf in Spanish each month.
Hispanic buying power and influence is increasing rapidly:
Hispanic buying power is increasing faster than any other minority group, rising from $223 billion in 1990 to an estimated $675 billion in 2003. According to the Selig Center, if the current growth continues, Hispanics will become the most economically powerful minority by 2005 with a buying power of $1.2 trillion by 2010.
The two million Hispanic-owned businesses in the U.S. generate about $300 billion in sales every year, a number which is predicted to double in five years, according to the U.S. Small Business Administration.
When online, Hispanic shoppers spend 7% more than the average non-Hispanic online shopper.
The U.S. Hispanic population is the fastest-growing offline and online:
Between 1990 and 2008, the Hispanic population grew by 74%, making it the fastest-growing group in America according to the U.S. Census Bureau. Meanwhile, the total U.S. population increased by only 13.2%. Already the largest minority in the United States, it is projected that this rapid growth will cause the Hispanic population to triple in size by 2050, causing its share of the U.S. population to increase from 12.5% to 24% in that time.
It is estimated that one-third of the U.S. Hispanic population is online, which translates into 15 million U.S. Hispanic internet users. This number is increasing by 20% each year as more Hispanic households buy computers and embrace the Internet.
Currently, 41% of all U.S. Hispanic households and 80% of U.S.-born Hispanic households own a computer. However, a Consumer Electronics Association study among Hispanics who didn’t own computers found that 58% of 25 to 35 year olds and 46% of 18 to 24 year olds were planning to buy a computer in the next two years.
Hispanics are embracing the internet quickly with 78% going online 3-5 times per week. According to the first annual U.S. Hispanic Cyberstudy, Hispanics spend 43% more time online at work (13.5 hours) and 13% more time online at home (9.5 hours) than the overall online population.