Latino purchasing power set to be close to $3 trillion by 2026

Latinos' purchasing power will be close to three trillion dollars by 2026, according to a recent report by Acosta Group which analyzes Hispanic shopper behavior in the United States.

The study, titled "State of the Hispanic Shopper in the U.S.," recalls that Latino economic development in the U.S. has surged over the past decade, expanding at a rate two and a half times swifter than that of its non-Latino counterparts, as cited in an article by Abasto Media.

"We conducted this survey of U.S. Hispanic consumers to assess their attitudes and shopping behaviors versus non-Hispanic shoppers," Kathy Risch, Acosta's Senior Vice President of Shopper Insights & Thought Leadership, told the outlet.

The specialist in shopper analytics noted that Latino population is also growing faster than other demographics.

According to the Pew Research Center, the population of the United States expanded by 24.5 million between 2010 and 2022, with Latinos contributing to 53% of this growth—a larger proportion than any other racial or ethnic group.

Following closely behind are non-Hispanic individuals identifying with two or more races. Their population increased by 8.4 million during this period, making up 34% of the total growth.

"Hispanic consumers are largely digital natives, and that carries over to their in-store shopping behaviors in terms of their comfort level and access to and use of digital tools," Risch said to Abasto Media.

Among other key findings, the report outlined thatby 2028 roughly 22% of the U.S. population will be of Hispanic origin, but the share will be higher among younger generations.

Researchers of Acosta Group said that by 2029, Latinos will represent 27.4% of the Generation Z population.

Key findings from "The State of the Hispanic Shopper in the U.S."

About 85% of Latinos have at least one supermarket loyalty card, underscoring their commitment to savings and rewards programs. Additionally, 90% of shoppers utilize grocery apps during their store visits, with 92% employing them for specific trips to the supermarket.

These tech-savvy Hispanic shoppers primarily leverage apps to hunt for digital coupons, promotions, and detailed product information such as pricing, availability, and special offers.

While 72% of Hispanics utilize digital tools to plan their grocery trips in advance, 38% rely on retailer apps as their primary aid for pre-trip shopping preparation.

Despite a notable preference for online shopping among one-third of Hispanics, a majority—54%—still favor the physical store experience, with the bulk of their monthly grocery budget allocated to in-store purchases.

Furthermore, 71% of Hispanics derive enjoyment from shopping at grocery stores, particularly relishing the opportunity to search for products and deals. With a keen eye for value, 41% of Hispanics express a preference for less frequent but higher discount promotions over frequent but lower discount offers.