Spotlight

Hispanic Consumers 2022

Multiculturalism Strategy Needs to Be Set Before Marketing

Report by Jingqiu Ren  | Oct 6, 2022
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Table of Contents
Executive Summary
Hispanic Consumers Drive US Population and Spending Growth
Multiculturalism Should Not Be an Afterthought for Marketing
Engaging With Hispanic Consumers Requires Both Short- and Long-Term Strategies
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Sources
Media Gallery
About This Report
Hispanic consumers drive the US population and economic growth. Brands must go beyond marketing strategies to capture the hearts of Hispanic consumers by designing product and service offerings with their needs and wants in mind.
Topics
Hispanic
Brand Marketing
United States
Table of Contents
Executive Summary
Hispanic Consumers Drive US Population and Spending Growth
Multiculturalism Should Not Be an Afterthought for Marketing
Engaging With Hispanic Consumers Requires Both Short- and Long-Term Strategies
Read Next
Sources
Media Gallery

Executive Summary

The Hispanic consumer segment in the US is growing, engaged, passionate, curious, and trusting. Winning this vast market requires brands to think first about what Hispanic consumers want in product design and offerings before they can be engaged through marketing.

Key Question: How can brands broaden their reach with Hispanic consumers?

US Buying Power*, by Race/Ethnicity, 2000-2025 (billions)
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KEY STAT: Hispanic consumers command an expanding share of US buying power. Their spending growth is projected to outpace other groups by nearly 10 percentage points by 2025.

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Table of Contents

  1. Executive Summary
  2. Hispanic Consumers Drive US Population and Spending Growth
  3. Multiculturalism Should Not Be an Afterthought for Marketing
  1. Engaging With Hispanic Consumers Requires Both Short- and Long-Term Strategies
  2. Read Next
  3. Sources
  1. Media Gallery

Charts in This Report

US Buying Power*, by Race/Ethnicity, 2000-2025 (billions)US Population, by Select Race/Ethnicity, 2015, 2020, & 2025 (% of total population)
A Snapshot of US Hispanic Consumers, Sep 2022Products/Services With Which US Hispanic vs. Non-Hispanic Adults Are Dissatisfied, Aug 2021 (% of respondents)
Brands Need to Offer Distinct Products and Marketing for Hispanic Consumers, May 2022US Adults Who Had Experienced Financial Hardship, by Race/Ethnicity and Hardship Type, March 2022 (% of respondents in each group)

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authors

Jingqiu Ren

Contributors

Dave Frankland
Principal Analyst, Marketing
Ann Marie Kerwin
VP, Content
Jennifer Pearson
VP, Research
Amy Rotondo
Director, US Research