Chicago, IL, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Hispanic consumers are fueling 16% of total consumer packaged goods (CPG) growth in the United States, with spending trends that vary from non-Hispanic counterparts in both dollar and unit sales, as well as the channels they shop. In two new reports, Part I: Meet the U.S. Hispanic CPG Consumer and Part II: Hispanics’ CPG Shopping Trends, Circana™ delves into the complexity of the U.S. Hispanic population and their influence in reshaping purchasing behavior across multiple categories, including baby care, laundry products, and bottled water.
These reports highlight that Hispanics now make up 20% of the U.S. population and account for 71% of national population growth between 2022 and 2023. More than 25% of Gen Z and Gen Alpha identify as Hispanic, demonstrating the long-term potential of this powerful consumer group.
“Hispanic households are crucial drivers of CPG growth, accounting for 14% of U.S. households while delivering 16% of total growth,” said Sally Lyons Wyatt, global executive vice president and chief advisor, Circana. “Brands and retailers that align their offerings with Hispanic consumers’ values and preferences — such as offering natural, sustainably packaged products in beauty and personal care, and multi-flavor variety packs for larger households — will unlock new growth opportunities in the years ahead.”
Key findings from the reports include:
- Rising CPG Spending. Hispanic households have outpaced non-Hispanics in both dollar (3.5% versus 2.6%) and unit (1.7% versus -0.3%) sales growth over the past year, despite over-indexing in incomes below $50,000.
- Category Dominance. Hispanic households are driving more than their share of growth in categories focused on family needs, including baby food, bottled water, laundry, and pet products.
- Cultural Preferences. Unacculturated Hispanics prioritize natural, plant-based, and sustainably packaged products, particularly in beauty and personal care, and value fragrance in home care purchases.
“The Hispanic consumer continues to outpace the overall market in key categories across general merchandise as well, driving growth in the fashion and home sectors in particular,” said Marshal Cohen, chief retail advisor, Circana. “Understanding the opportunity in front of retailers and manufacturers is critical for retail growth, and it will become even more important as the Hispanic population grows. Marketers continue to invest in reaching a variety of demographics, and the Hispanic opportunity needs to be part of that focus.”
About Circana
Circana is a leading advisor on the complexity of consumer behavior. Through superior technology, advanced analytics, cross-industry data, and deep expertise, we provide clarity that helps almost 7,000 of the world’s leading brands and retailers take action and unlock business growth. We understand more about the complete consumer, the complete store, and the complete wallet so our clients can go beyond the data to apply insights, ignite innovation, meet consumer demand, and outpace the competition. Learn more at circana.com.
Shelley Hughes Circana +1 312-731-1782 Shelley.Hughes@IRIworldwide.com
