Hispanic women are growing in purchasing power in the U.S., as Hispanics reach 54 million in the U.S. population. According to Nielsen, Hispanic women, also called Latinas, are the ones fueling the buying power of this group. Currently 86% of Hispanic women are making the purchase decisions in their household.
Hispanic women are projected to become 30% of the total female population by 2060, compared to 43% white females. In fact, in 2060, there will be no single dominant ethnic group.
The new Hispanic buying power is being fueled by the education and career growth. The women are outpacing their male counterparts in both areas and are the decision-makers in household spending.
And for the first time, Hispanic women 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.
The new Hispanic women are bi-lingual and are at ease shifting back and forth from Spanish to English.
Marketing to women will again take on new dimensions as we reach out to this important new demographic.