Hispanic consumers have endured exceptional financial volatility—mostly bad—during the pandemic. Even in normal times, this population is a moving target, with its diverse components evolving in financial strength, degrees of acculturation, and digital engagement.

Early in the digital era, Hispanics lagged significantly in internet access, but that’s changed mainly due to smartphone adoption. These days, Hispanics are avid users of social media and digital video—though they do lag behind in having home broadband.

It found 34% of total smart speaker users were using their devices more than usual because of the pandemic, with the highest increases among younger, Hispanic, and Black users. Only 5% reported using their speakers less.

Proficiency in English is increasingly the norm among US Hispanics, as more and more of the population is US-born. But Spanish isn’t going away.

Driven by gains in education and greater access to financial resources, the estimated buying power of US Hispanics is poised for growth, but Hispanic consumers and their shopping habits are often misunderstood or overlooked by marketers.

And a whopping 96% of Hispanic Americans now use fintech, up from 62% last year. Savings and investing saw the biggest adoption surge. Digital payment is the most popular fintech use case, at 70%. But the use of digital savings tools (57%) and online investing (51%) went up 24% and 18%, respectively. This correlates with consumers citing short- and long-term savings as their main financial challenges.