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5 hispanic markets, not one (32.79997320569839 , -96.800537109375) The Hispanic population in the US is forecast to increase dramatically in the coming years. In California alone, Hispanics account for 33% of the population, up from 12% in 1970. The most staggering statistic is that Hispanics now account for 50% of those aged under 24 in the state.

Recent research from Scarborough identified the cities with the fastest growing Hispanic populations, those cities increasing by 30%+ over the 2001-2004 period included; Dallas (53%), Orlando (46%), Salt Lake City (43%), Phoenix (41%), Fort Myers (37%), Denver (33%), Atlanta (33%), West Palm Beach (31%) and Houston (30%).

Marketers are paying increased attention to this group, but the notion of treating them as a single entity is misguided, according to Scarborough. Its research identified 5 clusters of Hispanics that make up the population.

Young Americans- 31%

Only 24% are foreign born. They have a HHI of $60k. Only 17% prefer to speak Spanish only. Likely to be the children of the Old Ways and Pioneers.

The Pioneers- 6%

Older at 65 years, but have integrated into the American way of life (only 21% prefer to speak Spanish). They have a HHI of $50k.

Settled In- 17%

Younger than the Pioneers at 43. Have the highest HHI of all groups at $68k. Only 19% prefer to speak Spanish.

Old Ways- 17%

Traditionalists. They have been in the US for over 20 years, but 61% still prefer to speak Spanish

New Lifers- 29%

New to the US, have been in the country an average of 8 years. They are the second youngest group with an average age of 31 years. Not yet assimilated into American culture, 61% still prefer to speak Spanish.

Basically the segmentation suggests the market is split 50:50 with traditionalists vs. modernists. It will be interesting to see exactly how the New Lifers evolve; do they become more like the Old Ways group or closer to The Pioneers?

One thing for certain, treating Hispanics as a single homogenous group, is a big mistake.

For some insight into how the Spanish language might evolve, check out this dictionary definition of Spanglish.