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Nielsen State of the Hispanic Consumer: The Hispanic Market Imperative

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State of the Hispanic Consumer: The Hispanic Market Imperative

  • “The U.S. Hispanic population is the largest minority segment and is growing at a dramatic rate towards ethnic plurality, which has already occurred in the most populous states and is beginning to occur among the U.S. baby population. The future U.S. economy will depend on Hispanics by virtue of demographic change and the social and cultural shifts expected to accompany their continued growth. It has become increasingly important to challenge commonly held misconceptions about the Latino market that undermine the importance of its size, uniqueness, and value. The topics of this report draw on compelling evidence of market change and the perspective of marketers who have proven success in the Latino marketplace: Latinos are a fundamental component to business success, and not a passing niche on the sidelines. Rapid Latino population growth will persist, even if immigration is completely halted. Latinos have amassed significant buying power, despite perceptions to the contrary.
    Hispanics are the largest immigrant group to exhibit significant culture sustainability and are not disappearing into the American melting pot. Technology and media use do not mirror the general market but have distinct patterns due to language, culture, and ownership dynamics. Latinos exhibit distinct product consumption patterns and are not buying in ways that are the same as the total market. The information in this report confirms what many marketers have known for some time, and yet, for some this is a wake-up call about change that is here to stay.”
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