HISPANIC BUYING POWER WILL GROW 48.1%

JANUARY 4, 2012 06:58 PM by StevenBridges

As reported in Hispanic Business Magazine, U.S. Hispanic buying power is projected to grow 48.1% to $1.6 trillion between 2011 and 2016, according to an analysis by industry researcher IBISWorld. The general U.S. population’s buying power is expected to grow only 27.5% during the same period. The sectors that can expect to see a Hispanic bump are department stores, where Hispanics spent about $22.1 billion in 2011, expected to increase 1.6% by 2016; single-location full-service restaurants, $10.4 billion, to be up by 1.7% over the next five years; and automaking, $9.8 billion, which will rise 1.9% by 2016. The largest percentage gain over the next five years is expected to be in consumer electronics, at 2.9%