Hispanic shoppers are spending less on groceries, putting pressure on consumer companies

Hispanic consumers are cutting back their grocery spending on everything from beer to cooking spray, executives said during recent earnings calls.

Hispanic consumers are cutting back their grocery spending on everything from beer to cooking spray, executives said during recent earnings calls.

Coca-Cola, Constellation Brands and Colgate-Palmolive are among the companies that have reported a slowdown in North American sales from Hispanic shoppers.

A fifth of the U.S. population identifies as Hispanic or Latino, according to the U.S. Census Bureau. Hispanics are now the second-largest demographic in the U.S. and the second-fastest growing ethnic group, agency data shows.

As the population of Hispanic consumers grows, so does their purchasing power — and their contribution to companies’ bottom lines. According to the latest data from economic think tank Latino Donor Collaborative, the U.S. Latino economy grew to $3.6 trillion in 2022, up from $3.2 trillion the prior year. And when it comes to shopping, Hispanic Americans overall spend more on consumer packaged goods and outpace non-Hispanic consumers, according to market research firm Circana.

But the White House’s hard-line immigration stance and broader economic concerns have led some Hispanic consumers to pull back their spending.