Why you need to target Hispanics in San Diego, ¡hoy!
“San Diegans are younger, richer, and better educated than the rest of the nation. Some might say we’re better dressed and better looking, too.” – Ray Major, Chief Economist, SANDAG, SDBJ Forum: Economic Trends 2017. If this doesn’t put a pep in your San Diegan step, I don’t know what will. But who exactly makes up this young, rich, and well-dressed population that they’re talking about. It turns out 35% of San Diegans are Hispanic and are projected to reach 37% by 2018, (Geoscape®, DMA). Although it may come as no surprise, the Hispanic population has been growing steadily across the nation.
Hispanics are intrinsically part of San Diego’s culture and economy. First, geographically, bordering with Mexico through Tijuana, to what many famously call la esquina de latinoamérica, “the corner of Latin America” which receives a large influx of Hispanics from our southern continents. And, culturally, San Diegans have adopted Hispanic culture through food, music, and language. The opportunity to capture the Hispanic market in San Diego is ripe and yielding. A prime market for any local San Diego business that knows how to capture them the right way.
In this two-part series, we’ll show you why marketing to Hispanics locally works and how to do it effectively. After reading this your next step should be strategizing your next local Hispanic digital campaign.
Part I: Top 4 reasons why to market to Hispanics locally
1. San Diego has a healthy economy
First and foremost, the economy in San Diego is ready! The unemployment rate in San Diego has been on a steady decline for several years, and economists foresee an approximate 3 percent growth in local GDP. This is enough to make anybody want to invest in America’s Finest City.
2. Hispanics have purchasing power
“Hispanics in San Diego have $12.6 billion dollars total purchasing power, and have a median household income of $45,001 – the most-affluent Hispanic market in the U.S.” Focus Hispanic reports. Digging a little deeper into Facebook demographics for San Diego, the highest San Diego Hispanic Millennial household income brackets were at $50-75k (21%), and $75-100k (21%) a substantial income, and an opportunity that cannot be missed.
3. Hispanic population is steadily growing
Just in San Diego, the Hispanic population makes 32% of the total population. This is the highest percentage for any minority group. And, it is projected to surpass the white population for the first time in 2035 (World Population Review). It’s time to get the wheels turning on capturing the demographic of the future: Hispanics.
4. The Tijuana factor
Because San Diego borders with Tijuana the cross-cultural exchange is huge in comparison to other cities that have large Hispanic populations. Just this year, KPBS reported: “Baja California visitors — primarily from Tijuana — spend more than $4.5 billion a year on retail and entertainment purchases in San Diego County.” The Tijuana-San Diego region is its own subculture, expanding the market beyond international borders.