Hispanic buying power growth is set to outpace that of the total population of the US.  Are you connecting with this all-important market?

Neilsen’s recent report on the Hispanic consumer shows striking data:

In 2015, Hispanics controlled $1.3 trillion in buying power, an amount larger than the GDP of Australia or Spain, according to the Selig Center for Economic Growth, up 167% since the turn of the century. The increase is more than twice the 76% growth in non-Hispanic buying power during the same period. The center’s projections show U.S. Hispanic buying power continuing this trend, reaching $1.7 trillion by 2020.

Advertising Age has published its 14th annual Hispanic Fact Pack and it contains even more insights into the Hispanic consumer:

  • The U.S. Hispanic population is 57.5 million strong as of July 1, 2016, with a median age of 29.
  • Hispanics have accounted for nearly half of the population growth in the U.S. since 2010.
  • 42.9% of online Hispanics sought some to all Spanish content.

One of the most compelling pieces of data shows that Hispanics are far more likely to use mobile devices to make purchases. What’s more, they also research and comment on those purchases on mobile at a higher rate compared to all adults.

Is your organization effectively reaching this important market? If not, ask us how we can help!