There is an important caveat, though. While the report said Hispanics accounted for 10.4% of total buying power in the US, that’s significantly smaller than their 18.3% share of the US population.
Despite having an above-average number of members, Hispanic households spend less than total US households do. The Bureau of Labor Statistics' 2018 “Consumer Expenditures Survey” showed Hispanic-headed households making average expenditures of $50,891, vs. $60,815 for total US households.
But average spending does tend to be higher among Hispanic households for certain categories. For instance, Hispanic households outspent their non-Hispanic counterparts for mobile phone service, at $1,313 vs. $1,125. Apparel and services was another category where Hispanic households outspent non-Hispanic ones, at $2,097 vs. $1,812. (An intriguing tidbit: Hispanic males ages 16 and older spent more than non-Hispanic males in that category: $409 vs. $335. But Hispanic females underspent non-Hispanic females: $497 vs. $590.)
Unsurprisingly, Hispanics make extensive use of digital resources when shopping.
In Q1 2019 polling by GlobalWebIndex, search engines received the most mentions when US Hispanics identified the resources they mainly use when “actively looking for more information about brands, products or services.” But more than one in four respondents included consumer reviews, social networks or product/brand sites.