Hispanics are now the largest ethnic minority in the United States and during the past decade, U.S. Hispanic purchasing power has rapidly increased. This report takes an in depth look at how today’s Hispanic Economy is transitioning into an economic power in the U.S.
Chapter 4 - Consumer Markets Provides extensive data on the U.S. Hispanic consumer market – its preferences, its segmentation, and its rapidly growing purchasing power
Chapter 4: Consumer Markets - During the past decade, U.S. Hispanic purchasing power has increased at a compound annual growth rate (CAGR) of 6.96 percent. That annual growth in disposable income is more than double the total U.S. rate of 2.8 percent. In dollars amounts, Hispanic buying power jumped from $429 billion in 1996 to $870 billion in 2008, with the Hispanic share of the total US disposable income reaching 8.6% - U.S. Hispanic purchasing power will grow nearly 31 percent from $841.37 billion in 2006 to $1.10 trillion by 2012. - Nearly one quarter of the $592.2 billion that Hispanics spent on consumer expenditures in 2006 went to just two categories: food and vehicles. Hispanics spent 11.8 percent on food in 2006 and 11.4 percent on vehicle purchases. - Hispanics also increased their market share of new vehicle purchases at a brisk pace: up from 4.7 percent in 1994 to 10.7 percent in 2006. - U.S. Hispanics have substantially increased their aggregate financial assets. From 2000 to 2005, the value of Hispanics’ financial assets expanded at a compound annual growth rate of 4.4 percent, well above the 0.6 percent annual increase in value reported for all U.S. households.
