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Immense Purchasing Power Big Reason For Hispanic-Market Strategies

This Opinion piece looks at why and how to serve the growing Hispanic financial services marketplace in the United States.

By Patrick S. Jury | Updated on September 10, 2013

If you’ve been following the explosion in size and influence of the U.S. Hispanic market, the latest prediction about this critical consumer segment may not surprise you. According to new findings, the average Hispanic household is projected to spend more in their lifetimes than non-Hispanic white households, and by a significant amount – $400,000.

While Hispanic families tend to be larger than others in the U.S., they are also younger, providing them more opportunity to make major life purchases, such as weddings, cars and homes. And, regardless of their household income, Hispanics’ spending is on par – and according to some research, slightly more – than the total U.S. population.

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