Beauty Store Business

MAR 2017

Beauty Store Business provides solutions for better retailing! New products, industry news, savvy business moves and important trends affecting both brick-and-mortar and online retailers are included in each issue.

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Page 37 of 75

36 March 2017 | Jon Feingersh, With a population positioned to comprise one-third of the nation by 2060, Hispanic beauty consumers are more important than ever to beauty retailing. by Manyesha Batist T he Hispanic population is the fastest-growing group in the United States, accounting for 56.6 million of the U.S. population, as of 2015. Hispanics are projected to comprise nearly one-third of the nation's population by 2060, as researched by the U.S. Census Bureau. When it comes to buying power, the Hispanic market is a notable force. According to consumer-insights agency Nielsen, U.S.-based Hispanics commanded $1.3 trillion in buying power in 2015 and are expected to reach $1.7 trillion by 2020. As a recent Nielsen article entitled, "Hispanics Transforming the Consumer Landscape," put it, "If U.S. Hispanics were their own country, they would have the 14th largest economy in the world."

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