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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