The Coming Wave: The Next $2T in Consumer Spending will come from Latino Households
- Diana Aguilar
- 5 days ago
- 1 min read
Trend
The customer you’re underserving is the one driving growth in your category.
Latino consumer spending in the U.S. reached nearly $2.5 trillion in 2023 and has grown at more than twice the rate of non-Latino spending over the past decade. Forecasts through 2030 show continued acceleration across regions and categories, positioning Latino households as the primary source of net new demand in the U.S. economy.
A vivid example of this shift is already visible in the auto industry. Latino consumers (20% of US population) account for 26% of all new vehicle purchases, and they have driven 68% of total industry growth in recent years. In other words, the buyer keeping auto sales expanding is disproportionately Latino.
Business ProblemDespite this reality, many five-year growth plans remain anchored to legacy consumers whose purchase cycles are lengthening and whose category participation is flattening. Product roadmaps, pricing strategies, and channel investments are often optimized for replacement demand rather than first-time or expanding households. The result is a structural mismatch between where growth is modeled and where demand is actually emerging.
Strategic Questions
• Is your future revenue model anchored to population segments that are shrinking or to those that are expanding?
