Page 4 - HMC 2021 HISPANIC MARKET GUIDE
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      150
120
 90
 60
 30
  0
+11.6M
8% 11%
2% -18%
Hispanics are the largest minority, fueling our country’s generational and cultural changeover.
In 2020, Gen Z became the first segment to be an American multicultural majority with teens 17 and under. Other segments will soon follow: under 35s by 2028 and all persons under 50 by 2033. That demands a shift in the way we think about and practice marketing—putting culture at the forefront.
Today’s marketing landscape is seeing an awakening by many companies to take a stand against hate and racism and promote voting rights, as their consumers, especially Millennials & Gen Zers, reward these actions. However, multicultural consumers also expect companies to represent them properly and exhibit cultural literacy
often found lacking in marketing, which is not surprising since nine out of 10 chief executives and advertising, promotions, sales & marketing managers are non-Hispanic white. There is a real danger of getting caught up in a mono-cultural
INTRODUCTION
According to Census projections by Pew Research,
2.5
2.0
all U.S. population growth between 2010 and 2019.
With total non-Whites combined repres1e.5nting
95% and whites only 5% of growth during the
1.0
0.5
continue to be the primary contributors to total U.S. population growth—comprising 53% o0f.0the growth in just the next five years and 68% of the growth to 2060. Despite commanding $1.7 trillion in buying power, corporate focus on Hispanics continues to lag.
62.3 million Hispanics make up 19% of the current U.S. population
Source: U.S. Census
% Contribution to Total Population Growth by Race/Ethnicity
 with a population of 62.3 million and growing, Hispanics as a single segment accounted for half of
same period, the shift to a multicultural majority is underway. For the next 40 years, Hispanics will
 Non-Hispanic Hispanic White (NHW
Non-Hispanic Black (NHB
Asian
Other
Source: 2018 American Community Survey
+48.8M +71.8M
13%
Hispanic Buying Power 2000–2024 11.6%
Hispanic % of Total U.S. Buying Power
9.1% 6.7%
10.8%
$495 Billion
$1 Trillion
  2000 2010 2019 2024
From 2010–2019,
Hispanic Buying Power increased by
$1.7 Trillion
$2.3 Trillion
 69%
outpacing Non-Hispanics, who increase by 41% during the same time.
Source: Selig Center for Economic Growth, Terry College of Business, The University of Georgia, June 2019
    22%
23%
   19%
 19%
21%
22%
    53%
65%
68%
      2020-2025
2020-2045
2020-2060
-27%
4
HMC 2021 HISPANIC MARKETING COUNCIL
  


































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