Page 14 - Latinas Powering Forward Whitepaper

Latinas Powering Forward

Buying Powerhouse

Latinas have an immense impact on household consumption, thus influencing the rapid growth of Hispanics’ buying
power, which reached $1.5 trillion in 2018 and is projected to grow to $1.9 trillion by 2023. As their share of the
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population grows, so does their influence across industries. Latinas are responsible for growth across categories such
as beauty, mobile devices, automobiles and investments (financial accounts). 13

Latina Buyer Growth by Category 2018 vs. 2014

Makeup Department Casual Alcoholic Mobile
Stores Dining Beverages Phone/Tablet
+12% +9% +13% +26% +18%
vs. +4% NH vs. +1% NH vs. +3% NH vs. +6% NH vs. +13% NH

Hair Care Bottled Energy / Auto Investments
Water Diet Bars
+8% +21% +15% +15% +247%
vs. +2% NH vs. +9% NH vs. -3% NH vs. +1% NH vs. +78% NH

Source: Simmons Summer 2018 Full Year Study versus Summer 2014 Full Year Study, based on Weighted (000),
F18+ (CPG & Auto based on HHs).

Latinas have always played a significant role as head of the household, often assuming the responsibility of managing
the family budget, and rising earnings cement her control over family decision-making. Latinas are more likely to
hold the reins over many household decisions compared to non-Hispanic women. They not only make more financial
decisions than non-Latina women, but they are also in charge of the largest average households in the U.S. with 3.26
members compared to 2.42 for non-Hispanics. Latinas are becoming the prevalent mother figure with more kids in
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the household and a central focus on child raising and family life. Latinas are increasingly becoming the new American
“soccer mom” and advertisers will need to win them over to reach market share growth goals as the population and
influence of Latina moms continue to grow.

Latina Household Decision Making vs. Non-Hispanic Women (NHW)

make decisions about choose food for the
44% household savings 67% household
and investments
(vs. 36% of NHW) (vs. 59% of NHW)

choose restaurants choose family clothing
38% for family outings 66% or footwear

(vs. 28% NHW)
(vs. 61% of NHW)

Source: GfK Consumer Life (Roper Reports US). 2017.

12 Humphrey, Jeff. The Multicultural Economy 2018. Selig Center for Economic Growth, 2018.
13 Simmons Summer 2018 Full Year Study versus Summer 2014 Full Year Study.
14 U.S. Census ACS 2018.

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