HISPANIC CONSUMERS REPRESENT 15% OF U.S. SPENDING; HOUSEHOLD SPENDING GROWTH SHARPLY DECELERATING, NUMERATOR REPORTS

60% of Hispanic Shoppers Say They Would Stop Buying from Brands That Don’t Reflect Their Values; 80% Say Rising Prices Make Non-Essentials Harder to Afford

CHICAGO, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Numerator, a data and tech company serving the market research space, has released new findings on Hispanic consumer spending, analyzing how and why Hispanic consumers are adjusting both their budgets and mindsets. The report, The State of Hispanic Spending, combines verified purchase data from Numerator’s Total Commerce Panel and a Verified Voices survey of over 1,600 U.S. consumers. The findings reveal growing financial caution among Hispanic consumers, driven by ongoing economic pressures and uncertainty.

Verified Purchase Data Findings:

Hispanic households account for 15% of consumer spending, but growth has stalled. Hispanic household spending was highest among non-White ethnic groups, but after peaking at 3.2% growth in 2024, Hispanic spending per household dramatically slowed to 0.8% growth in 2025. As a result, absolute spending per household among Hispanics fell below that of White households for the first time since 2021.
- The steepest spending decline is among unacculturated households. All Hispanic segments saw signs of plateauing from 2024 to 2025, but the most significant pullback occurred among unacculturated households. This group’s spend per household declined by 4.8% in 2025, compared to 4.3% growth the previous year.
Hispanic spending growth is now driven by population gains, not behavior. In 2024, population growth accounted for just 23% of spending growth. In 2025, it surged to 72%. With population gains now the core driver of Hispanic spending, changes in immigration policy could have an outsized impact on future spending.
Hispanic shoppers are shifting spend toward food and club channels. Electronics stores (-0.5 percentage points vs. YA), department stores (-0.4pp), and mass retailers (-0.3pp) lost share of Hispanic household spend in 2025. In contrast, food retailers (+0.5pp) like Wakefern and Publix, and club stores (+0.7pp) like Costco and Sam’s Club have become favored alternatives.
New channels are gaining traction, with TikTok Shop emerging as a key platform. Nearly one-quarter (23%) of Hispanic consumers reported making purchases via TikTok Shop in the past month. Verified purchase data indicates that 73% have made two or more purchases within the year. Hispanic consumers spent an average of $34.34 per trip and made approximately seven purchases per year on the platform.

Verified Voices Consumer Survey Findings:

Hispanic consumers are prioritizing mental health. Nearly one in four (23%) Hispanic consumers report prioritizing their mental health over their physical health this year, the highest among any ethnic group (compared to 17% of Black consumers, 14% of White consumers, and 9% of Asian consumers).
Top concerns include rising prices and immigration policy. The leading issues identified by Hispanic consumers were rising prices (40% of respondents), immigration policy and issues (30%), financial security / personal debt (24%), public safety and crime (23%), and health (22%). While rising prices topped concerns for all consumers, Hispanic consumers ranked immigration and public safety notably higher than the general U.S. population.
Hispanic perceptions of financial security have significantly worsened. A large majority (80%) of Hispanic consumers say that rising prices are making non-essential goods and services unaffordable. Additionally, 71% believe the U.S. is already in a recession, and 59% expect their household's financial situation to worsen over the next year.
- Big-ticket categories are under pressure. Nearly half of Hispanic consumers say they feel less comfortable spending on vehicles (46%), homes (46%), and luxury goods (45%) in the coming months, with travel (41%) and home improvement (40%) also at risk.
Hispanic households are more likely to cancel retail subscription services. Survey data shows that Hispanic consumers are 80% more likely than the general population to say they have canceled subscription services like Walmart+ or Amazon Prime. Nineteen percent of Hispanic consumers reported canceling a shopping subscription in the past year, compared to 11% for total U.S.
Hispanic shoppers are more likely to scrutinize brand values and take action. Hispanic consumers are more likely than any demographic to oppose brands whose political stances conflict with their own. Sixty percent say they would stop purchasing from a company that takes a political or social stance they disagree with—compared to 47% of U.S. consumers overall. More than half (57% vs. 44% total U.S.) of Hispanic consumers say it is important that the brands they buy reflect their personal values, 51% (vs. 36% total U.S.) have participated in at least one consumer boycott, and 44% (vs. 31% total U.S.) regularly research corporate policies, values, or initiatives of brands and retailers.

Numerator’s Hispanic Consumer Spending survey was fielded in June 2025 to 1,663 consumers weighted and balanced to total US demographics. Purchase data was compiled using Numerator’s Total Commerce Panel.

Bob Richter
Numerator
212-802-8588
press@numerator.com

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