Hispanic purchasing power in U.S. is $1 trillion strong and growing..outpacing blacks

bornnraisedoffCMR
bornnraisedoffCMR Members Posts: 1,073 ✭✭
edited March 2010 in The Social Lounge
Hispanic purchasing power in U.S. is $1 trillion strong and growing
2010/03/16

The Infoshop by Global Information would like to present a new market research report, "Share of Wallet: Hispanics - US - February 2010" by Mintel International Group Ltd,.

Hispanic purchasing power in the U.S. is growing faster than the purchasing power of any other group. Research and analysis shows that Hispanic families overspend on groceries compared to non-Hispanic. Moreover, Hispanics also spend more on telephony than any other group in the US. Purchasing power among the diverse Hispanic population is currently valued at approximately $1 trillion.

The economic profile of a Hispanic consumer is dynamic. Whats more is that Hispanic household spending deeply influences sectors such as apparel, footwear, telecommunications, and food and beverage. These industries have created entire initiatives and business models around products tailoring to the Hispanic household.

Mintels report explains that central differences in spending patterns between Hispanics and non=Hispanics. This report also examines the key characteristics about the product categories Hispanic households currently spend more on in comparison to non-Hispanic families. Moreover, there is a discussion on the ways in which consumer behaviors of Hispanic households have evolved in light of the current economic situation.

smh


Black 1 Trillion

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