Wednesday, June 12, 2024

Young Bicultural Latinas Gaining Consumer Power

According to new data, there are 28 million Hispanic females living in the U.S. who are gaining consumer power and influence. Latinas are now in the driver’s seat of U.S. growth.

“Marketers are looking at a new Latina,” explains Stacie M. de Armas, vice-president of Strategic Initiatives & Consumer Engagement at Nielsen. “While she is bilingual and bicultural … she is also very much in pursuit of her American dream and that is evidenced by her educational attainment and her advancement in creating businesses.”

In a report released on Tuesday, Nielsen details the ascent of this demographic powerhouse which grew 37 percent between 2005 and 2015. The report titled “Latina 2.0: Fiscally Conscious, Culturally Influential & Familia Forward,” reveals how younger Hispanic women and their buying power are outpacing the rest of the nation.

“We are not only changing the face, but also the economic future of America,” explained Latina businesswoman Nuria Santamaria Wolfe, a daughter of Salvadoran war refugees who emigrated to the U.S. in the 1980’s. She is the co-founder and CEO of “Canticos”, an L.A. based start-up that sells bilingual books and children’s products.

About 73 percent of Latinas agree that their cultural heritage is an important part of who they are. They are price-conscious shoppers, prefer bulk wholesale stores and are health conscious, fashion-forward and digitally savvy.

NBC News