INDUSTRY & SECTOR DATA
Despite Latinos representing 20% of the population (U.S. Census Bureau) and commanding $3.2 trillion in GDP (The Official LDC U.S. Latino GDP Report), brands only invest 4% of their advertising dollars to Hispanic-targeted efforts (SMI and GroupM). Below, statistics across various sectors and industries shows that this cannot continue – it’s time to start thoughtfully investing in Latino audiences and #STOPLATINOCOATING.
Hispanic Market Insights by Industry/Sector
- Represent 70% of net new home purchases from 2020 to 2024. Urban Institute
Accounted for 14% of new mortgages in 2023, up from 12.6% in 2022. Redfin 2024
82% have made changes to their home in the past year versus 76% of non-Hispanics. (Mintel In-Home Lifestyles – US – 2024)
- 77% used a sit-down restaurant in the past 30 days and 35% used a sit-down
restaurant 4 or more times in the past 30 days. Scarborough USA+ 2023 Release 2 Total (Jun 2022 – Oct 2023), Total Adults 18+ - Spend 16% more at quick-serve restaurants per trip and make 27 more trips
than non-Hispanic whites. Numerator, Shopper Metrics, Total Commerce Panel. Parent Channel: Limited-Service Restaurants. CY 2023.
- Latino healthcare spending has increased by 162% from 2012 to 2022, more than
double the increase in total healthcare spending. Consumer Expenditure Surveys, U.S.
Bureau of Labor Statistics 2012, 2022
- Latino households spend an average of 16% more on apparel than the average
household. Consumer Expenditure Surveys, U.S. Bureau of Labor Statistics 2022 - Represent 13% of spending on sports/recreation equipment and 12% of sports
clothing purchases. 2023 MRI-Simmons Fall Doublebase USA
- 50% indicated they purchased a luxury product/service in the last two years versus 42% of non-Hispanics. Mintel Luxury Consumer – US – 2024
- Accessories (purses, scarves), prestige beauty/personal care, watches and jewelry were top Latino categories. Mintel Luxury Consumer – US – 2024
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The HMC Hispanic Market Guide is the most comprehensive resource on the U.S. Hispanic market and provides brands and journalists with unparalleled competitive intelligence for locating and targeting the top agencies in the market.