Bicultural Latinos drive faster spending gains and reward culturally fluent brands with loyalty and action.
As the fastest growing demo in the US, Wells can pick up serious deposits with an engaged base.
Hispanic buying power in the US has skyrocketed since 2010, rising from $1 trillion to a projected $2.8 trillion by 2026. Retailers and brands need to understand the cohort’s economic profile and shopping habits—particularly as they aim to capture younger generations of digital natives.
Gen Alpha is still a nascent generation, but technology is already a constant in their lives: 36.0 million US children are active internet users, exceeding teen internet users by 11.4 million, per our forecast. This is the data you need to understand the future Gen Alpha.
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.
Gains in education and homeownership have Hispanics poised for improvement in income and net wealth. For now, though, they still have difficulty accessing credit and getting financial services tailored to their needs. For our recent report on US Hispanics, we spoke with demographics experts about what financial services companies need to keep in mind as they market to this community.
For US Hispanics, optimism and the idealization of the American Dream are driving an uptick in homeownership, and as more Hispanics become homeowners, their purchase power and net wealth are poised to increase. But they’re not up to speed with the rest of the US economy … yet.
As the recession fades into the past, Hispanic income has been rising. However, it remains well below the average for total US households. For our latest report on the Hispanic cohort in America, we took a look at their attitudes on finances, finding that they are less upbeat than US consumers in general about their current economic situation. But a sense of upward mobility is an important part of their outlook.
We estimate that more than half of the US Hispanic population will use messaging app WhatsApp at least monthly this year. The platform’s US Hispanic user base of 32 million is growing because of its data cost savings, messaging encryption capabilities and popularity in Latin American countries.
Marketers must look beyond the old “digital divide” stereotype and the incomplete “Hispanics are mobile” cliché to grasp the nature of Hispanic consumers’ digital activity—especially as the issue of English-vs.-Spanish adds distinctive complications.
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