Given their buying power, population growth, and cultural influence in the U.S., it’s natural for brands to want to understand Hispanic buying trend and consumer behaviors. However, like the general market, Hispanic trends can differ greatly between categories. To help you understand the latest trends, we’re launching the Hispanic Trends Series, beginning with economic sentiment. Stay tuned for future installments including beauty and tech!
Hispanic Trends: Economic Sentiment
Hispanics care about the economy and their personal finances. They work hard for their money and are optimistic about their finances. In fact, 61% of Hispanics expect their personal financial situation to get better over the next six months, compared to 40% of Non-Hispanics. Individual confidence reflects more trust in personal advancement.1
With the current state of the U.S. economy, 22% of Hispanics consider it a good time to make major purchases like a new car or home improvements This sentiment grew +5 percentage points compared to March 2017.1
They believe the job market is better, and 21% of Hispanics think it will become easier to find a new job. This sentiment grew +2 percentage points compared to March 2018.1
They want more and will work to improve their financial situation. Hispanics focus on generating supplemental income (28% vs 23% for Non-Hispanics) or getting a higher paying job (29% vs 23% for Non-Hispanics).2 All positive news for the economy!
Download the trend report below for more info.