Report: Minorities will spend $60B on telecom in 2008

A growing minority population in the U.S. will account for nearly one-third of all telecom spending in 2008, some $60 billion on telecommunications services, says a new study from Insight Research. Leading the rush to telecom will be Hispanics, who make up about 14.8 percent of the U.S. population. Insight says the ability to reach that market will be crucial.
 
"U.S. Hispanic Use of Telecommunications Services, 2008-2012" looks at the purchasing habits and telecom usage patterns of the diverse make-up of the Hispanic market, pointing out that Hispanic households spend 80 percent more on cell service than the average household spends on wireline service.
 
"The purchasing power that the Hispanic-American, African-American, and Asian-American communities exert in the telecommunications industry is not being ignored," says Insight Research Analyst Robert Rosenberg. Rosenberg takes mobile carriers to task for "undifferentiated Spanish-speaking advertising campaigns" that fail to recognize the diversity within the Hispanic population, a critical component for telecoms looking to tap into a market that quickly is becoming a force.

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