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Share of Wallet: Hispanics - US - February 2010

Hispanic purchasing power is as diverse as the consumers it represents. It is $1 trillion strong and is growing faster than the purchasing power of any other group. The economic profile of a Hispanic consumer is dynamic. Lower-income households are spending more on food than Hispanics with a household income of $75K. In fact, Hispanic families overspend on groceries compared to non-Hispanic. Hispanics also spend more on telephony than any other group.

Hispanic household spending strongly influences sectors like telecommunications, apparel and footwear, and food and beverage among others. The Hispanic market is vital to food retailers and telecommunications companies. These industries have developed entire initiatives and business models around products catering to the Hispanic household.

Readers of this report will learn:

  • Key differences in spending patterns between Hispanics and non-Hispanics
  • Important characteristics about the product categories Hispanic households currently spend more on than non-Hispanic families
  • Ways in which the consumption behaviors of Hispanic households have changed given the current economic scenario
  • Characteristics of categories that are taking a larger share of the Hispanic wallet
  • Characteristics of categories that are taking a smaller share of the Hispanic wallet

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Table of contents

  1. Scope and Themes

    • What you need to know
      • Definition
        • Sources
          • Consumer survey data
            • Consumer Expenditure Survey
              • Abbreviations and terms
                • Abbreviations
                  • Terms
                  • Executive Summary

                      • Hispanic purchasing power
                        • Hispanics’ category expenditures
                          • Larger share of wallet
                            • Smaller share of wallet
                              • U.S. Hispanic population
                                • Demographics
                                  • Acculturation
                                  • Insights and Opportunities

                                    • Inspire Insights

                                        • Trend: No more mainstream
                                          • What’s it about?
                                            • What we’ve seen
                                              • Specifics
                                                • Implications
                                                  • Trend: Who are the Joneses?
                                                    • What’s it about?
                                                      • What we’ve seen
                                                        • Specifics
                                                          • Implications
                                                          • Hispanic Purchasing Power

                                                            • Key points
                                                              • Hispanics financial data
                                                                • Hispanic purchasing power
                                                                  • Figure 1: Purchasing power, by race/Hispanic origin, 2008
                                                                • U.S. household income distribution
                                                                  • Figure 2: Median household income by race and Hispanic origin of householder, 2007
                                                                • Hispanic income levels
                                                                  • Figure 3: Largest Hispanic markets, by Hispanic disposable income, 2005
                                                                • Hispanics by age
                                                                  • Figure 4: Hispanic share of the population, by age, 2004, 2009 and 2014
                                                                • Hispanics’ economic growth
                                                                  • The Hispanic household
                                                                    • Figure 5: Average household size, by race/Hispanic origin of householder, 2001 and 2008
                                                                    • Figure 6: Households, by number of persons in the household—Hispanics vs. non-Hispanics, 2006
                                                                    • Figure 7: Hispanic households, by presence and ages of children, 2009
                                                                  • Hispanic household earners
                                                                    • Household income distribution by race/Hispanic origin
                                                                      • Figure 8: Household income distribution, by race and Hispanic origin of householder, 2008
                                                                    • Household earners
                                                                      • Hispanic household earners
                                                                        • Figure 9: Number of working adults per Hispanic household, by household size, December 2009
                                                                      • Dual-income households tend to have more education
                                                                        • Figure 10: Number of working adults per Hispanic household, by educational attainment, December 2009
                                                                      • Income changes in the household
                                                                        • Hispanic households
                                                                          • Figure 11: Changes in the income of the Hispanic household, by household income, December 2009
                                                                        • Spanish-dominant households are not faring well in this economy
                                                                          • Figure 12: Changes in the income of the Hispanic household, by language spoken in the home, December 2009
                                                                        • Spending and savings
                                                                          • Spending habits
                                                                            • More than half of Hispanic household are spending more or the same as last year
                                                                              • Figure 13: Changes in spending habits of the Hispanic household, by household size, December 2009
                                                                            • Spending by household income
                                                                              • Figure 14: Changes in spending habits of the Hispanic household, by household income, December 2009
                                                                            • Saving habits
                                                                              • Hispanic households are saving less than last year
                                                                                • Figure 15: Changes in saving habits of the Hispanic household, by household size, December 2009
                                                                              • Regardless of household income, Hispanics are saving less
                                                                                • Figure 16: Changes in saving habits of the Hispanic household, by household income, December 2009
                                                                              • Larger households are saving less money
                                                                                • Figure 17: Savings per month in the Hispanic household, by household size, December 2009
                                                                              • High-income households are saving money
                                                                                • Figure 18: Household saving per month in the Hispanic household, by household income, December 2009
                                                                            • Hispanics’ Category Expenditures

                                                                              • Key points
                                                                                • Category expenditures
                                                                                  • Figure 19: Average annual expenditures, Hispanic households, by expenditure category, 2002-10
                                                                                  • Figure 20: Average annual expenditures, non-Hispanic households, by expenditure category, 2002-10
                                                                                • Distribution of expenditures
                                                                                    • Figure 21: Average annual distribution of expenditures, by categories, by Hispanic and non-Hispanic, 2008
                                                                                  • Monthly expenses
                                                                                    • Many Hispanic households can only afford basic necessities
                                                                                      • Figure 22: Hispanics’ affordability of monthly expenses, by Hispanic household income, December 2009
                                                                                    • English-dominant Hispanics can afford more but are saving less
                                                                                      • Figure 23: Hispanics’ affordability of monthly expenses, by language spoken in the home, December 2009
                                                                                    • Household spending changes
                                                                                      • The Hispanic household
                                                                                        • Figure 24: Hispanics’ changes in monthly expenses by category, by household income, December 2009
                                                                                      • Spanish-dominant are having to commit more to groceries, transportation and utilities
                                                                                        • Figure 25: Hispanics’ changes in monthly expenses, by language spoken in the home, December 2009
                                                                                      • Top household expenses
                                                                                        • Top three expenses in the Hispanic household
                                                                                          • Figure 26: Top three monthly expenses among Hispanics, by household size, December 2009
                                                                                          • Figure 27: Top three monthly expenses among Hispanics, by household income, December 2009
                                                                                      • Larger Share of Wallet

                                                                                        • Key points
                                                                                          • Apparel and footwear
                                                                                            • Figure 28: Average annual expenditures on apparel, by Hispanic and non-Hispanic, 2008
                                                                                            • Figure 29: Distribution of average annual apparel expenditures, by Hispanic and non-Hispanic, 2008
                                                                                          • The Hispanic apparel and footwear consumer
                                                                                            • The fashion-conscious are becoming budget-conscious
                                                                                              • Figure 30: Changes in household spending on apparel and footware among Hispanics, by household income, December 2009
                                                                                            • Spanish-dominants are spending more on apparel and footwear
                                                                                              • Figure 31: Changes in household spending on apparel and footware among Hispanics, by language spoken in the home, December 2009
                                                                                            • Telephone services
                                                                                                • Figure 32: Average annual expenditures on telephone services by Hispanic and non-Hispanic, 2008
                                                                                                • Figure 33: Distribution of average annual telephone services expenditures, by Hispanic and non-Hispanic, 2008
                                                                                              • Telephones and utilities
                                                                                                • Majority of Hispanic households are spending more on utilities than a year ago
                                                                                                  • Figure 34: Hispanic household changes in spending on utilities expenses, by household income, December 2009
                                                                                                • Spanish-dominants are spending more on utilities
                                                                                                  • Figure 35: Hispanics’ average annual expenditure on utilities services, by language spoken in the household, December 2009
                                                                                                • Food and beverages
                                                                                                  • Average annual expenditures
                                                                                                    • Figure 36: Average annual expenditures on food and beverages, by Hispanic and non-Hispanic, 2008
                                                                                                    • Figure 37: Distribution of average annual expenditures on food and beverages across categories, by Hispanic and non-Hispanic, 2008
                                                                                                  • Food at home
                                                                                                    • The Hispanic households eat at home
                                                                                                      • Figure 38: Hispanics’ comparison of grocery expenditures from last year, by household size, December 2009
                                                                                                    • Low-income households are spending more on groceries
                                                                                                      • Figure 39: Hispanics’ comparison of grocery expenditures from last year, by household income, December 2009
                                                                                                    • Spanish-dominants are spending significantly more on groceries
                                                                                                      • Figure 40: Hispanic households’ change in level of expenditure on groceries, by language spoken in the home, December 2010
                                                                                                    • Food away from home
                                                                                                      • Hispanics prefer fast food chain restaurants
                                                                                                        • Figure 41: Number of visits by Hispanics to a dining establishment, by household size, December 2009
                                                                                                      • Higher income means more trips to fast food restaurants
                                                                                                        • Figure 42: Number of visits by Hispanics to a dining establishment, by household income, December 2009
                                                                                                    • Smaller Share of Wallet

                                                                                                      • Key points
                                                                                                        • Healthcare
                                                                                                          • Average annual expenditure
                                                                                                            • Figure 43: Average annual expenditures on healthcare, by Hispanic and non-Hispanic, 2008
                                                                                                            • Figure 44: Average annual healthcare expenditures indexed to all CUs, by Hispanic and non-Hispanic, 2008
                                                                                                          • Healthcare insurance
                                                                                                            • Hispanics lack health insurance
                                                                                                              • Figure 45: Ownership of health/hospital/life insurance, Hispanic and non-Hispanic, April 2008-June 2009
                                                                                                            • Health insurance by language preference
                                                                                                              • Figure 46: Hispanic ownership of health/hospital/life insurance, by language spoken in the home, April 2008-June 2009
                                                                                                            • Entertainment
                                                                                                              • Average annual expenditure
                                                                                                                • Figure 47: Average annual expenditures on entertainment, by Hispanics and non-Hispanics, 2008
                                                                                                                • Figure 48: Average annual entertainment expenditures indexed to all CUs, by Hispanics and non-Hispanics, 2008
                                                                                                              • Changes in entertainment expenditures
                                                                                                                • The Hispanic household
                                                                                                                  • Figure 49: Changes in entertainment expenditure by Hispanic households, by household size, December 2009
                                                                                                                • Regardless of household income, Hispanics are spending less on entertainment
                                                                                                                  • Figure 50: Changes in entertainment expenditure by Hispanic households, by household income, December 2009
                                                                                                                • By language spoken in the home
                                                                                                                  • Figure 51: Changes in entertainment expenditure by Hispanic households, by language spoken in the home, December 2009
                                                                                                                • Education
                                                                                                                  • Average annual expenditure
                                                                                                                    • Figure 52: Average annual expenditures on education, by Hispanic and non-Hispanic, 2008
                                                                                                                  • Changes in education expenditures
                                                                                                                    • The Hispanic household
                                                                                                                      • Figure 53: Hispanic household changes in education expenditure, by household size, December 2009
                                                                                                                    • Regardless of household income, most Hispanics continue their level of investment in education
                                                                                                                      • Figure 54: Hispanic household changes in education expenditure, by household income, December 2009
                                                                                                                    • Spanish-dominants maintain their level of expenditure in education
                                                                                                                      • Figure 55: Hispanic household changes in education expenditure, by language spoken in the home, 2008
                                                                                                                    • Shelter
                                                                                                                      • Average annual expenditure
                                                                                                                        • Figure 56: Average annual expenditures on shelter by Hispanic and non-Hispanic, 2008
                                                                                                                        • Figure 57: Average annual shelter expenditures indexed to all CUs, by Hispanic and non-Hispanic of CU reference person, 2008
                                                                                                                      • Changes in housing expenditures
                                                                                                                        • Larger households are struggling with affordable housing
                                                                                                                          • Figure 58: Hispanic household changes in mortgage/rent expenditure, by household size, December 2009
                                                                                                                        • By household income
                                                                                                                          • Figure 59: Hispanic household changes in mortgage/rent expenditure, by household income, December 2009
                                                                                                                        • Spanish-dominant are spending more on rent/mortgage than last year
                                                                                                                          • Figure 60: Hispanic household changes in mortgage/rent expenditure, by language spoken in the home, December 2009
                                                                                                                      • Cluster Analysis

                                                                                                                          • Budgetless non-savers
                                                                                                                            • Characteristics:
                                                                                                                              • Reduced income and saving
                                                                                                                                • Characteristics:
                                                                                                                                  • Unchanged financial sophisticates
                                                                                                                                    • Characteristics:
                                                                                                                                      • Characteristic tables
                                                                                                                                        • Figure 61: Hispanic clusters, December 2009
                                                                                                                                        • Figure 62: Hispanic ownership of financial services products, by Hispanic clusters, December 2009
                                                                                                                                        • Figure 63: Hispanics’ affordability of monthly expenses, by Hispanic clusters, December 2009
                                                                                                                                        • Figure 64: Changes in the level of spending of the Hispanic household, by category, by Hispanic clusters, December 2009
                                                                                                                                        • Figure 65: Changes in the spending habits of the Hispanic household, by Hispanic clusters, December 2009
                                                                                                                                        • Figure 66: Changes in the saving habits of the Hispanic household, by Hispanic clusters, December 2009
                                                                                                                                        • Figure 67: Household income changes in the Hispanic household, by Hispanic clusters, December 2009
                                                                                                                                      • Demographic tables
                                                                                                                                        • Figure 68: Hispanic clusters, by gender, December 2009
                                                                                                                                        • Figure 69: Hispanic clusters, by age group, December 2009
                                                                                                                                        • Figure 70: Hispanic clusters, by household income group, December 2009
                                                                                                                                        • Figure 71: Hispanic clusters, by education, December 2009
                                                                                                                                        • Figure 72: Hispanic clusters, by country of birth, December 2009
                                                                                                                                      • Cluster methodology:
                                                                                                                                      • U.S. Hispanic Population

                                                                                                                                          • Key facts
                                                                                                                                            • U.S. population by race/Hispanic origin
                                                                                                                                              • Figure 73: U.S. population, by race/Hispanic origin, 1970-2020
                                                                                                                                              • Figure 74: U.S. Asian, Black, and Hispanic populations, 1970-2020
                                                                                                                                              • Figure 75: U.S. Population by race/Hispanic origin, 2005-15
                                                                                                                                            • The Hispanic and non-Hispanic population
                                                                                                                                              • The Hispanic and total U.S. population by age
                                                                                                                                                • Figure 76: U.S. Hispanic population, by age, 2005-15
                                                                                                                                                • Figure 77: Total U.S. population, by age, 2005-15
                                                                                                                                              • Generations
                                                                                                                                                • Hispanics by generation
                                                                                                                                                  • Figure 78: Generations, by Hispanic vs. non-Hispanic, 2009
                                                                                                                                                  • Figure 79: Fertility rate, by race and Hispanic origin of mother, 1996-2006
                                                                                                                                                • Hispanics by country of origin/heritage
                                                                                                                                                  • Figure 80: Hispanic population, by country of origin/heritage, 2007
                                                                                                                                                  • Figure 81: Graph: Hispanics, by country of origin/heritage, 2007
                                                                                                                                                • Hispanics by geographic concentration
                                                                                                                                                  • Figure 82: Hispanic population, by region, by country of origin/heritage, 2007
                                                                                                                                                  • Figure 83: Graph: Hispanic population, by region, 2007
                                                                                                                                                  • Figure 84: Hispanic population in top five states, by country of origin, 2006
                                                                                                                                                • States with greatest Hispanic population growth
                                                                                                                                                  • Figure 85: Hispanic population, states with greatest percentage increase, 2000-06
                                                                                                                                                • Key Hispanic metropolitan areas
                                                                                                                                                  • Figure 86: Metropolitan areas with the largest number of Hispanic residents, by country of origin, 2006
                                                                                                                                                • Acculturation
                                                                                                                                                  • What is acculturation?
                                                                                                                                                    • Why is level of acculturation important?
                                                                                                                                                      • Levels of acculturation
                                                                                                                                                          • Figure 87: Hispanics, by acculturation and assimilation level, 1998-2008
                                                                                                                                                        • What is retro-acculturation?
                                                                                                                                                        • Appendix: Other Useful Consumer Tables

                                                                                                                                                            • Figure 88: Average annual expenditures, by Hispanic and non-Hispanic of CU reference person, 2008
                                                                                                                                                            • Figure 89: Average annual expenditures of Hispanic and non-Hispanic CUs, indexed to all CUs, 2008
                                                                                                                                                            • Figure 90: Share of aggregate expenditures accounted for by Hispanic and non-Hispanic CUs, 2008
                                                                                                                                                            • Figure 91: Changes in level of household savings by Hispanic families, by household income, December 2009
                                                                                                                                                            • Figure 92: Hispanic household preference for grocery shopping, by household income, December 2009
                                                                                                                                                        • Appendix: Trade Associations

                                                                                                                                                          Companies Covered

                                                                                                                                                          • Aetna Inc.
                                                                                                                                                          • AT&T Inc.
                                                                                                                                                          • Best Buy stores (USA)
                                                                                                                                                          • Brinker International Inc.
                                                                                                                                                          • Centers for Disease Control and Prevention
                                                                                                                                                          • Chipotle Mexican Grill Inc.
                                                                                                                                                          • Clorox Company , The
                                                                                                                                                          • Costco Wholesale Corporation
                                                                                                                                                          • DSW Inc.
                                                                                                                                                          • Dunkin' Brands
                                                                                                                                                          • El Pollo Loco Holdings, Inc.
                                                                                                                                                          • Federal Deposit Insurance Corporation
                                                                                                                                                          • Food Marketing Institute
                                                                                                                                                          • GameStop Corp
                                                                                                                                                          • Kellogg Company
                                                                                                                                                          • Los Angeles Times
                                                                                                                                                          • McDonald's U.S.A.
                                                                                                                                                          • McKinsey & Company
                                                                                                                                                          • National Public Radio Inc.
                                                                                                                                                          • National Retail Federation (NRF)
                                                                                                                                                          • National Telecommunications and Information Association (NTIA)
                                                                                                                                                          • Netflix, Inc.
                                                                                                                                                          • Panera Bread Company
                                                                                                                                                          • Payless ShoeSource Inc
                                                                                                                                                          • Pizza Hut Inc
                                                                                                                                                          • SAM's Club
                                                                                                                                                          • Starbucks Corporation
                                                                                                                                                          • T-Mobile USA
                                                                                                                                                          • Target Corporation
                                                                                                                                                          • Telemundo Communications Group, Inc.
                                                                                                                                                          • The New York Times Company
                                                                                                                                                          • Turner Broadcasting System, Inc.
                                                                                                                                                          • U.S. Bureau of Labor Statistics
                                                                                                                                                          • U.S. Bureau of the Census
                                                                                                                                                          • U.S. Department of Housing and Urban Development (HUD)
                                                                                                                                                          • Univision Communications Inc.
                                                                                                                                                          • US Department of Commerce
                                                                                                                                                          • Vonage Holdings Corp.
                                                                                                                                                          • Walgreen Co
                                                                                                                                                          • Walmart Stores (USA)
                                                                                                                                                          • Wild Oats Markets, Inc
                                                                                                                                                          • Zappos.com Inc.

                                                                                                                                                          Share of Wallet: Hispanics - US - February 2010

                                                                                                                                                          £3,277.28 (Excl.Tax)