Purchasing power increased by 69%! This group of people in the United States cannot be ignored!

According to a Nielsen report, there are more than 62.3 million Hispanics living in the United States, accounting for 19% of the U.S. population. The number of Hispanics in the United States has increased by about 233% since 1980. According to forecasts, by 2050, the number of Hispanics will account for about a quarter of the U.S. population.

Data shows that the purchasing power of Hispanics in the United States increased by 69% from 2010 to 2019. According to Nielsen's forecast, by 2023, the consumer spending of this group of people in the United States will reach 1.9 million US dollars, which is higher than the GDP of countries such as Australia, Spain and Mexico.

Among the Hispanic population in the United States, there are more than 15 million millennials. In recent years, the purchasing power of this group has grown rapidly, and millennials are becoming the most valuable group in the U.S. Hispanic market.

In addition, in the United States, the average age of Hispanics is 28 years old, and they are mainly concentrated in California, Florida, Texas and New York. Among them, Texas, California and Florida are states with stronger economies and the states with the highest concentration of Hispanic population.

Notably, U.S. Hispanics are very concerned about their personal health and are willing to spend more in this area, including buying wearable devices (such as Apple Watches and Fitbits), fitness equipment, and vital monitoring devices (such as blood glucose meters).

The value of the U.S. Hispanic market is also reflected in the workforce: Over the past six years, Hispanics' share of the U.S. labor market has increased by 75%.

Editor ✎ Nicole/

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