A recent Nielsen report confirms that U.S. Latinos are avid mobile users and powerful consumers. This trend is an ongoing one and what the figures show is that it is not passing fancy. Latino consumers tend to be young and loyal, which has widespread implications for purveyors of products and services looking to tap into a demographic whose buying power is now measured in the trillions. With a capital T, according to Pew Research Center studies.
What’s more, despite the stereotyping and xenophobic pandering by Donald Trump and others, young Latinos are increasingly better educated and thus increase overall Latino buying power.
Consider a recent report in International Business Times: “Hispanics are becoming more educated, with college enrollment among Hispanics ages 18 to 24 more than tripling from 1996 to 2012, Pew found. As a result, their share of new entrants into the civilian labor force has reached 20 percent in white and gray collar jobs, said Carlos Santiago, president and chief strategist of Santiago Solutions Group, a leading growth strategy consultancy focused on Hispanic markets. ‘This is all pushing their buying power closer to $1.5-1.7 trillion annually,’ he said.”
To repeat: That’s $1.5-1.7 trillion. With a capital T.