United States – Hispanics Demographic and Consumer Spending Trends 2016 – Hispanic Buying Power to Reach $1.8 Trillion in 2020 – Research and Markets

DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “Hispanics:
Demographic and Consumer Spending Trends”
report to their
offering.

This new report unmasks the simple but powerful formula that lies behind
the recent remarkable growth in Hispanic spending power. First, the
number of Hispanic households has been growing faster than the number of
non-Hispanic households. Second, average spending by Latino households
has increased more than average spending by non-Hispanic households.
These two basic variables (more rapid household growth + higher growth
in average spending) add up to a higher rate of growth in aggregate
spending by Latino households than non-Latino households in recent years.

As a result, Latino consumers have become the most important driver of
growth in a wide variety of consumer expenditure categories. For
example, between 2012 and 2015 increased spending by Latino households
represented around 40% of the growth in aggregate spending for household
equipment such as computers and telephones and 25% of the growth in
aggregate consumer spending for new cars and trucks. Latino households
accounted for double-digit shares of growth in aggregate expenditures
for furniture (20%), major appliances (18%), audio-visual equipment and
services (17%) and small appliances (16%).

The same phenomenon has occurred in the use of financial services. Over
the past decade the percent of Hispanic individuals and households using
a wide array of financial services has grown faster than it has among
non-Hispanic consumers. As a result, Hispanic consumers have become a
pillar of growth in the financial services industry. For example,
between 2005 and 2015 growth in credit card use by Latinos grew 11 times
faster than it did among non-Hispanics (44% vs. 4%). The 5.1 million
additional Latinos with credit cards accounted for around half (49%) of
the growth in the number of consumers using credit cards.

Key Topics Covered:

Chapter 1: Executive Summary

Chapter 2: Insights and Opportunities

Chapter 3: Hispanic Population Trends

Chapter 4: Language and Acculturation Trends

Chapter 5: Demographic Trends

Chapter 6: Buying Power Trends

Chapter 7: Recent Spending Trends

Chapter 8: Use of Financial Services

Chapter 9: Marketing to Hispanic Consumers

For more information visit http://www.researchandmarkets.com/research/smz82k/hispanics

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Research and Markets
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