Birth of an Ecosystem: Understanding the Market for Black and Latino Tech Consumers
The next wave of tech innovation will be driven by the activity of black and Latino consumers online.
Shifting demographics are making black and Latino¹ consumers one of fastest growing and most lucrative markets in the United States.
By the year 2044, people of color will become the the majority in the US, making up over half of the US population, and within this group, 37% will be black or Latino.
But on the way there, the numbers have already shifted.
Today, 60% of Latinos are Millennials or younger and 50% of black population is Millennial or younger. The oldest group is the non-Hispanic white population, where only 39% are Millennials or younger and the median age is 42 years old.²
We see many people talk about the lasting impact of Millennials and post-Millennials on technology. But we almost never hear them tell the whole story: that this is an increasingly brown generation.