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Thursday, January 13, 2011

Market Insights:Latino Shoppers

Market Insights: A Selection From The Report

Buying Power Used to Measure Market Size
This Packaged Facts report uses “buying power” to measure the size of the Hispanic market. Buying power is another term for “disposable personal income,” which is defined as the total after-tax income available to an individual to spend on personal consumption, personal interest payments and savings. Hispanics Show Increasing Economic Clout As a result of above-average population growth and improved earning power over the past three decades, Latinos have been responsible for an ever-growing share of consumer buying power in the United States. Packaged Facts estimates that in 2009 Latinos accounted for 9.1% of total buying power, compared to only 3.8% in 1980. [Figure 3-1]
Hispanic Consumer Units Profiled
Latino consumer units differ from non-Hispanic consumer units in a number of ways. Hispanic consumer units are larger, include more children, and are more likely to include multiple earners. They are more likely to be renters and less likely to have a college education. [Table 8-2]
Spending Patterns Differ
The spending habits of Latino households differ from those of non-Hispanic households. Food at home is one of the most prominent categories in which Latino consumers spend relatively more than other consumers. Latinos spend 9% of their household budgets on buying food to prepare at home, compared to the 7.5% spent by other consumer units.
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1 comment:

  1. Really great posting. There is growing evidence that the cultural and ethnic diversity of many advanced and newly industrialising economies is increasing, and that Ethnic Marketing minorities, are seeking to maintain their identity.