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. What's 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.
Mintel's 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.
For more details on this information:
http://www.the-infoshop.com/report/mt114718-us-hispanics.html
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