Hispanic women are gaining prominence in the U.S. and are becoming a strong influence on the mainstream economy. With 52 million in the U.S. population, Hispanics collectively have an impressive buying power of $1.2 trillion. Within the overall Hispanic demographic, however, the women are the ones in the driver’s seat, according to a recent report published by Nielsen.
Hispanic women, aslo called Latinas, are the growth engine of the U.S. female population and are expected to represent 30 percent of the total female population by 2060, while the non-Hispanic white female population is expected to drop to 43 percent.
Latinas are becoming more educated, tech savvy and connected, allowing them to write their own destinies and challenge the dynamic of Hispanic households. With 86 percent of Latina women at the helm of purchasing decisions in households, the times are changing and economic power is shifting.
“Latinas are a key driver of economic influence, giving marketers an opportunity to establish new and loyal consumer relationships by acknowledging the needs and following the unique behavior trends of Hispanic women,” said Mónica Gil senior vice president, public affairs and government relations.
According to the findings in the new Nielsen report, Latinas are making strides by way of their strong drives to improve their education and cultivate strong careers. In fact, Latinas are outpacing their Latino counterparts in both areas, and are overwhelmingly the decision-makers in household spending.
For the first time, Latinas are exceeding non-Hispanic females in college enrollment. A record 73 percent of Hispanic high school female graduates are enrolling in college, 11 percent ahead of Hispanic males.
In significant areas, Latinas are avid users of technology and social media to stay culturally connected while they’re on-the-go and their day-to-day activities. For many Latinas, personal technology and social networking are helping them maintain their ethnic culture, language and traditions.
The modern Latina is also ambicultural, able to pivot from English to Spanish, Latina to American and back again. Bilingual language proficiency has significantly increased among Latinas, while the proportion of Spanish dominance has held steady and the proportion of English dominance has declined significantly.
When it comes time to shop, family needs are at the top of Latinas’ shopping lists. Reflecting the prevalence of larger families and cultural nuances, Latina purchasing decisions often span many food categories. High levels of purchasing are also often reflected in oral hygiene products, bottle water, detergent and paper products, for example.
For additional insights, download the full Latina Power Shift report.