Study Shows Slowing Hispanic Consumer Spending: What Brands Need to Know
Hispanic households remain a critical growth segment for consumer brands, representing 15% of U.S. consumer spending in 2025 — up from 13.6% in 2020 — the highest share among non-white ethnic groups, according to a new Numerator report, "The State of Hispanic Spending."
However, new research from Numerator shows momentum has slowed over the past two years, with Asian and white households now contributing more to overall spending growth.
After years of leading per-household spending increases, Hispanic spending rose just 0.8% in 2025, down from 3.2% in 2024. Growth is now driven primarily by population gains rather than increased spend per household. Unacculturated households — which in this context refers to Hispanic consumers who retain most of the cultural heritage, language and traditions from their country of origin and have not significantly adopted mainstream U.S. culture — has posted the steepest declines, with spending dropping 4.8% year-over-year.
In 2024, most growth came from existing shoppers spending more, with population growth accounting for only 23% of the increase. By 2025, however, 72% of growth was fueled by a larger Hispanic population — a shift that could be at risk if immigration slows and economic pressures mount, according to Numerator.
“Increased scrutiny of immigration policies, coupled with rising financial pressures, could threaten the economic stability of a demographic once considered an unstoppable growth engine,” Numerator noted in a blog post.
Key Shopper Shifts
- Channel Moves: Hispanic consumers are trading down and shifting spend toward food retailers (e.g., Publix and Wakefern) and club stores, with Costco and Sam’s Club gaining share, while mass, electronics and department store channels see declines.
- Subscription Pullback: 19% of Hispanic shoppers report canceling shopping subscriptions such as Amazon Prime or Walmart+, compared with 11% of total U.S. shoppers.
Emerging Channel Adoption: Nearly one-quarter (23%) of Hispanic households have shopped TikTok Shop in the past month, compared to 16% of the total U.S., with strong repeat purchase rates. - Dining & Grocery Rebalance: After five years of favoring quick-service dining, Hispanic households are shifting slightly more spend toward at-home grocery purchases.
Economic Anxiety and a Shifting Consumer Mindset
Numerator’s survey data revealed heightened economic anxiety among Hispanic households:
- 71% believe the economy is already in a recession.
- Four out of five report difficulty affording discretionary purchases.
- Concerns over immigration policy, safety and economic instability overindex compared to other groups.
Notably, mental health is a growing priority, particularly for semi- and unacculturated households. One in four Hispanic consumers cite anxiety as a top health concern and 34% are managing stress — creating opportunities for brands to align with self-care and well-being sentiments.
Brand alignment on values is also crucial: Hispanics are more likely than any demographic (60%) to oppose brands whose political stances conflict with their own.
Marketing Implications and Action Steps
Numerator’s report identified four strategies for brands seeking to grow with Hispanic consumers in today’s climate:
- Tailor Strategies on Cost-Consciousness: Focus pricing and promotions on cost-sensitive households in high-density Hispanic markets — especially in Texas, Florida and California — to maintain engagement amid rising price sensitivity.
- Focus on Self-Care: Highlight how products support everyday stress relief and emotional well-being. Position offerings as practical solutions for managing daily pressures.
- Leverage Emerging Channels: Invest in platforms like TikTok Shop and value-forward retailers such as Costco to meet Hispanic consumers where they’re already experimenting and spending.
- Stay Close to the Consumer: Create an insights scorecard to track Hispanic spending trends by acculturation level. Use surveys and targeted listening to monitor sentiment and economic concerns.
