Young Latinos Mean Big Money

Richie and Lucía Matthews wrote an interesting piece about the big money power of young Latinos in the U.S. Not only is the Latino market in the U.S. projected to grow to $1.3 trillion dollars by 2015 (incidentally, this is a ton of money and not a far off time period), but the number of young Latinos is growing.

The authors call these young Latinos Generation Ñ:

“Approximately one in six Americans is of Hispanic descent or origin. More than half are under the age of 26 and by 2020, the number of Hispanic teens is expected to increase by 62 percent as compared to 10 percent growth in the number of teens overall. Hispanic youth are a powerful consumer force underlining the Latino presence in general consumer market culture.  Typically English speaking, or at English preferred, socially connected and heavy technology users, Latino teens, ‘Generation Ñ’ are leading the way in general market infiltration.”

The bottom line is, Latinos are going to wield significant amounts of economic power in the immediate and long-term future.