Hispanic women are rapidly becoming an economic and social powerhouse in the United States, with rising rates of entrepreneurship, educational attainment and delayed marriage, according to a recently released Nielsen report. These advances are emerging as the relatively young Latina population is undergoing dramatic growth: 37% between 2005 and 2015, with 77% of that growth coming from U.S.-born Latinas.
This largely bi-cultural group will exert a strong influence on both Hispanic and mainstream American culture into the 21st century, as brands exponentially magnify their market for ethnic products.
Stacie de Armas, vice president, strategic initiatives & consumer engagement at Nielsen, says “… Latinas’ … newfound confidence will have an undeniable impact on our consumer-driven society… forging a wider path in the mainstream… using technology to serve as brand and culture influence… “
The report highlights the soaring Latina population and the boom in Latina entrepreneurship, as well as Latina consumption patterns that are driving growth across a variety of sectors–from beauty to technology.
The U.S. Hispanic female population is booming, totaling 28 million, accounting for 17% of the total U.S. female population, and is growing rapidly by 37% between 2005 and 2015. 77% of U.S. Hispanic female population growth over that 10-year span did not come from immigration, but rather from Hispanic girls born in the U.S. In California and New York, Hispanic females account for the majority of the female population
More Hispanic women ages 15 and over have never married (39%) than their non-Hispanic white counterparts (25%); that likelihood has increased from 31% in 2005
Forty-one percent of Hispanic women have completed at least some college, and 74% of recent high school graduates are enrolled in college (vs. 72% of non-Hispanic females)
More highlights from the study include:
Latina-majority owned businesses totaled nearly 1.5 million, representing 87% growth over the past five years, far outpacing the 39% growth by Hispanic male-majority owned firms, and the 27% growth by total female majority-owned firms.
Latina majority-owned firms make up 44% of all Hispanic-owned firms, and 15% of all female-owned firms.
Latinas are significantly more likely than non-Hispanic white women to use social networking sites, such as YouTube, Instagram, Google+, Snapchat and Twitter, says the report.
Hispanic women are more likely than their non-Hispanic white counterparts to own smartphones and smartwatches, and to watch videos on smartphones, listen to online radio, download/purchase music and play video games.
74% of Hispanic women say they are likely to recommend products to others, while 40% say people often seek their advice before making a purchase, compared to 33% of non-Hispanic white women.
Latinas use social networking sites to recommend or review products and show their support for brands and companies more than non-Hispanic white women.
Over a fifth of married Hispanic women have non-Hispanic spouses and 10% are married to someone of a different race, making them catalysts of intercultural exchange.
De Armas noted that “ambicultural Latinas move fluidly between their cultures, driving intercultural affinity by sharing her root culture with friends, family and coworkers… Latinas are truly at the forefront of this crossover trend… engaging her online and offline social networks… sharing her voice… influencing those around her.