Hispanic buying power hits $34B in Arizona
Business leaders and members of the Hispanic community gathered Wednesday morning at the Sheraton Phoenix Downtown
Hotel for the 15th annual DATOS breakfast hosted by the Arizona Hispanic Chamber of Commerce.
The annual event showcases research about the Hispanic community in the annual DATOS report done by students and faculty
of Arizona State University under the direction of Professor Emeritus Dr. Loui Olivas of the W.P. Carey School of Business.
"What this shows is that we not only matter, but we matter more every day," said Hispanic Chamber Interim President and
CEO, Gonzalo de la Melena.
Here are some key findings of the study:
• Hispanics have a national buying power of $1 trillion nationwide, and it's estimated at $34 billion in Arizona. The state is the 7th largest for Hispanic buying power, with California the largest at $249 billion.
• There are 53,000 Hispanic-owned businesses in Arizona.
• Arizona ranks fifth in terms of total Hispanic population. More than 30 percent of the state's 6.6 million residents, or about 2.06 million,are Hispanic. Arizona trails only New Mexico, California and Texas for the size of its Hispanic community.
• In Phoenix, Hispanics comprise about 42 percent, or 617,000 - of the city's total population of about 1.5 million people.
• Hispanic women nationwide most often shop at Walmart (86 percent) and Target (51 percent) for their families needs.
• Items most often purchased by Phoenix Hispanic shoppers include children's and infant clothing, and men's shoes.
• The Hispanic student population in Arizona public schools reached 41.4 percent of Arizona's total K-12 population. That is up from 1996 when the Hispanic student population was 30 percent.
In addition to a presentation by Olivas, Hector Orci gave the keynote speech on the growing influence of Latinos and the Hispanic community on the United States.
Orci is the founder of the Association of Hispanic Advertising Agencies and co-chair of La Agencia de Orci & Asociados, one of the leading independent Hispanic advertising agencies in the U.S.