Philadelphia business and marketing strategists may be able to target Latino consumers more accurately in 2015 thanks to a report released by the Greater Philadelphia Hispanic Chamber of Commerce (GPHCC) in November.

The report, conducted in association with Temple University's Fox School of Business and the Pennsylvania Department of Community & Economic Development, cites several reasons that make the Latino consumer a prime target for marketers. Spread across 21 nationalities and with a median age of 24.3 years — nearly half as young as the non-Latino median — Latinos in the Greater Philadelphia Region (GPR) are not only a young and diverse commercial base, but highly brand-conscious, avid technology connoisseurs across the board.

Latinos purchase by brand at a higher rate than the total market, 43% more for branded hair care products and 15 percent more for branded baby products. While they tend to make fewer outings than the non-Latino household, they spend over $386 more per year, meaning high average expenditures per trip.

Much of the report’s data comes from a national surveys, but one area where Philly’s numbers were unique are in mobile technology. Over 90 percent of Philly-area Latinos are cell phone owners, and 68 percent of those are smartphone users — 23 percent higher than the national U.S. Latino average. Dependence on mobile technology is further indicated by high social media usage among young Latinos, as well as an 8 percent higher average cellular bill than the general market.

Of course, disposable income determines these spending habits. Suburban averages naturally rank much higher than urban counterparts regardless of the ethnic group, but out of the 11 counties that comprise the region, the average income per Latino household is $63,010 annually. Burlington County ranks the highest at $82,580, and Philadelphia County the lowest at $34,332.

With an estimated purchasing power of $4.2 billion, the GPR Latino population reflects the national trend of Latinos as the fastest growing consumers of all minority groups in the United States. In 2012, Latinos had an approximate purchasing power of $1.2 trillion nationwide, a sum which is expected to grow to $1.7 trillion by 2017. Moreover, according to the report, more than half of all Latinos opt to pay with cash or debit rather than credit cards.

The report illuminates numerous other traits that distinguish the Latino consumer: high emphasis on homeownership, family-oriented values, reliance on word of mouth, etc. While GPHCC is able to provide some broad answers that illuminate the foggy demographic info on GPR Latino consumers in particular, the report’s main goal is to raise “a deeper set of questions” about the rapidly growing Latino business market and how business developers can better engage it.

“One of my earliest memories is going to Sears to buy a washer and dryer with my grandparents, parents and brothers,” Paul Lima, member of the GPHCC board and representative of Lima Consulting Group, said in the report. “To a five year old, large purchases for my family were indistinguishable from a family reunion. Social commerce and decision making is part of our culture. Latinos are culturally predisposed to use social media, and the numbers indicate that we over-index in our adoption of social media, mobile and social commerce and likelihood to follow a brand on social media.”