These 62.1 million people have the potential to become the most important development force going forward, with gross income growth 72% faster than the nation’s overall economy.

In a country where the pandemic has halted the momentum of the American dream, there is a community that continues to drive economic growth more than any other minority in the United States, all while maintaining confidence in the system and the economic leadership of its authorities. This group, who accounts for almost one in five Americans, are considered the secret of the United States’ future. Their buying power has increased 69% (compared to 41% for non-Hispanics) and is projected to rise to $2.6 trillion in the next three years. 

This is not just about sales. True success relies on building better experiences, forging relationships, and growing with the consumers we serve. As such, we have to understand their culture, speak their language, and be one step ahead of their needs if we want to be relevant players in their lives.

Given their importance, we knew it was highly relevant to conduct an in-depth study to determine how to best approach and develop the opportunity they represent, especially since the world is currently promoting economic reactivation.

Using LLYC’s Big Data Analytics Suite (DAS), a quantitative study, and market research, we cross-examined Expedition’s survey of 1,000 Hispanic consumers living in the United States with a data analysis of over 20,173,300 public conversations between April 1 and Oct. 20, 2021, in Spanish and English across six of the cities with the highest U.S. Hispanic populations: Miami, Los Angeles, Houston, New York, Phoenix, and Chicago.

This effort helped us understand not only U.S. Hispanic consumer behaviors, motivations, and purchase preferences, but also their organic, unbiased conversations around different topics. We looked at this because how they speak about certain products or brands (and the underlying trends) can translate into sales. Taking into account the specific traits that differentiate them from other groups, we uncovered some insights into how companies should approach U.S. Hispanics to help brands take advantage of this opportunity to leap forward in the market.