Latinas are an economic power and may define the next American generation, according to the findings of a report released this week by Nielsen.
The reported titled The Latina Powershift says Latina women in the United States have recently and rapidly surfaced as prominent contributors to the educational, economic, and cultural well-being of not only their own ethnicity, but of American society and the consumer marketplace as well.
The report says the rise of Latinas in America is driven by increasing numbers in society, the workplace and on campus. But they are also striving to retain their cultural roots while making strides towards upward mobility and taking a prominent place in mainstream America.
According to the report: “Latinas are outpacing Latino males in their educational pursuits and career development, are overwhelmingly the decision-makers in household spending, have surpassed the proportion of non-Hispanic white families with children, and through their youth and increased incomes have become an attractive consumer segment who is being actively courted by marketers.”
Economically, Latinas are expanding their purchasing power. They are rapidly catching up with or exceeding Latino males and non-Latino females in big ticket purchasing (homes and vehicles) and in the use of financial services. Eighty-six percent of Latinas say they are the primary decision makers in their households, making them pivotal to the Latino market’s $1.2 trillion in annual buying power.
Latinas are adopting and adapting all types of technology at a higher pace than U.S. females. In significant areas, Latinas are outpacing society in using technology for culturally centered social networking. Personal technology has found an ideal fit with Latinas and their desire to be connected and to communicate with their families.