The US Hispanic population continues to be the fastest-growing minority segment in the US. In 2014, there were 55.3 million Hispanics in the United States, accounting for just over 17% of the total US population. That’s about 15% of the total adult population and 22% of US millennials.
Hispanics tend to be younger than the general market and have larger families, a larger percentage was born in the digital age, and the share of adult Hispanics born outside of the US has been steadily declining (48.7% in 2014 vs. 55% in 2007). And lastly, Hispanics have a collective buying power of $1.2 trillion.
Their buying power alone makes them a lucrative marketing target, but before you rush to include this segment, you need to know more about it. How can you include them in your marketing efforts?