Hispanic consumers in the US have origins from more than 20 countries, account for approximately 20% of the US population, and are estimated to contribute up to $3.7 trillion in GDP as of 2022.
Hispanic consumers in the US have origins from more than 20 countries, account for approximately 20% of the US population, and are estimated to contribute up to $3.7 trillion in GDP as of 2022. With such a breadth of heritage and large population, Hispanic culture and communities around the country can be vastly different. Commonalities of shared language, a focus on family, cultural pride and resilience are near-universal elements. And while these themes resonate, marketers have explored them at length, leading to Hispanic consumers feeling generally seen, but lumped together, and not personally and authentically represented.
Brands that invest in understanding different groups’ unique cultural norms, household dynamics, dialects/slang, traditions and celebrations – as well as how younger generations are both challenging traditions and embracing their heritage – will stand out from the sea of sameness in Hispanic-centric marketing.
Hispanic culture emphasizes family, communal values and cultural pride – drivers influencing their consumer behavior and brand preferences.
Fiona O’Donnell, Senior Director – Lifestyles, Culture & Identity, Multicultural, Travel & Leisure
Similar to the US Census, Mintel defines Hispanics as those who report being of Hispanic or Latino origin or descent, such as Latin American, Mexican, Puerto Rican or Cuban. There are over 63.5 million Hispanics in the US in 2023, representing 18% of the total US population.
“Hispanic” entails anyone who has origins from a Spanish-speaking country, and “Latino” denotes individuals who have origins in a Latin American country, regardless of whether it is a Spanish-speaking country. This Report covers both Hispanic and Latino consumers, and the term is used interchangeably throughout to reflect the diversity of this demographic.
When I’m investigating specific sectors I tend to use Mintel reports for their forecasting, which I’ve always found to be very accurate.
They also offer really broad and deep coverage in their reports. They are very, very detailed. For example, we were able to gain insight across a wide range of business areas from just one report, proving that Mintel is excellent value for money.
So overall, it’s the level of detail and the quality of forecasting that really stand out for me.
At Jackman, we believe that powerful strategies are based on human insight. Mintel’s leading-edge reports and insights into consumer attitudes and behaviors are an important input as we develop and execute strategy.
We have such a great working relationship with Mintel on lots of different levels. As an insight partner, they have helped us to develop our business planning in specific categories as well as supporting our creative process but they’ve also been super helpful with facilitating our events in their inspirational offices near St Paul’s.
They’re an innovative company, with a client-focused team that always delivers.
Working in a customer-obsessed organization means that data and insights have to be at our fingertips. Mintel’s reports help us support anecdotes with real quantifiable insights. The summary sections (which I really like) helps save time by giving a birds eye view of the content before spending time combing through the pages.
Our business review discussions are strengthened by the relevancy of the reports to help us better understand our customers. In addition, the customer service received from the team (especially in crunch periods) makes the process of understanding customer behavior even better.
Mintel helps us when we want to know something quickly – it provides fast answers to our questions. If we need to get a view of what’s going on in a particular market it’s very useful.
When carrying out background research, I find Mintel an excellent starting point.
The fact that it covers so many markets is a big plus for me– instead of having to buy specialist products in each area we are interested in, especially when we only require a brief view on a particular market, we can go to Mintel for help as a one-stop shop. I find Mintel a useful and valuable resource.
