Rhode Island’s Hispanic population will increase at a 9.1-percent clip over
the next 10 years – far outpacing the state’s overall population growth – according
to the first ever Hispanic Market Report of New England.
Newport-based Ethnic Business Partners released the market report last week in hopes of spotlighting the increasing minority population. The group wants business to pay attention to a particular prediction: The New England Hispanic population’s purchasing power will jump 70 percent by 2008.
The hefty 1,295-page report gathers a number of demographic profiles together – tying together independent studies and the most recent figures from the U.S. Census Bureau to get a better picture of New England’s Hispanic population.
Vanessa Toledo, managing director of the consulting firm for minority marketing, said the report’s release was timed to coincide with the celebration of Hispanic Heritage Month in September as well as build on the momentum of this February’s New England Hispanic Market Summit in Providence.
“Nobody has ever put out a report of this kind,” said Toledo, who said the report took more than a year to assemble. “It’s a snapshot of where the community is now. For a company planning to grow and that wants to put together a long-term strategy, this is an easy way in to understanding where that market is going.”
From 2005 to 2015, the Hispanic market in New England is expected to grow from 1 million to nearly 1.4 million, the report noted. In Rhode Island, while the general population is expected to increase 2.1 percent, the Hispanic or Latino population is expected to grow 9.1 percent.
Toledo said 86 percent of New England’s population is concentrated in Connecticut and Massachusetts, and when Rhode Island’s numbers are added to that, the percentage grows to 96 percent.
In Rhode Island, nearly 80 percent of the state’s Hispanic population, more than 70,000 people, is concentrated in Central Falls, Providence and Pawtucket. Estimates are that between another 25,000 and 50,000 undocumented immigrants are in the state.
One of the more interesting trends to emerge from the report is that the Hispanic populations in the trio of states – Vermont, Maine and New Hampshire – share a number of characteristics such as higher household incomes and education levels.
“The community has a strong work ethic, strong family values and is growing in big numbers,” Toledo said.
“Learning a language, getting an education, finding a good job, all of that takes time. … Those three states keep popping out of the data, it’s a less-immigrant and more affluent community but one that still has its cultural ties and can’t be ignored.”
The 10 fastest-growing counties are sprinkled all over New England, though 85 percent of the region’s growth is concentrated in just 16 counties.
Rhode Island’s Washington County saw the fastest growth in the state, with its Hispanic population increasing 68 percent, from 1,780 to 1,062.
Nantucket actually led the percentage growth by more than 300 percent, from 50 Hispanics to 212.
“The numbers are tiny in some cases,” Toledo said. “But if you live there, you’ve probably noticed.”
Insights from a number of national experts are sprinkled throughout the report, as are brief marketing opportunities from Hispanic culture. Specifically, an event like Three Kings Holiday on Jan. 6 could be a natural tie-in for retailers showcasing their after-Christmas sales. Quinceanera parties, a term referring to the oftentimes extravagant celebrations held for a girl turning 15, could be a new market for party or wedding planners.
A variety of somewhat obscure marketing facts have also been assembled in the report. Looking for who spent the most on Hispanic marketing last year? Lexicon (which offers English as a second language training), is followed by familiar names like Proctor & Gamble, Sears Roebuck Co. and General Motors.
Most popular television stations in the community? Univision and Telemundo followed closely by the Disney Channel. What sort of food products is the market looking to buy? Tomato sauce, yogurt and instant coffee are all major sectors.
“This is a tool for planning for that marketing effort and understanding the market a little more in-depth,” Toledo said.
More information on purchasing a copy of the report is available on Ethnic
Business Partners Web site, www.ethnicbusiness.com. Toledo said companies who
purchase the full report will be invited to attend a seminar reviewing key parts
of the report that are applicable to their line of business. Toledo said Ethnic
Business Partners is willing to create individualized sessions for larger companies,
and is already planning to tailor a seminar for Cox Communications.
