Latinos Wield $1 Trillion in Consumer Spending Power

ROCKVILLE, Md.Market research publisher Packaged Facts released its Latino Consumers: Demographic Patterns and Spending Trends among Hispanic Americans, 8th Edition" report that reveals Latinos in the United States are a growing consumer segment with an estimated $1 trillion in spending power that will grow to $1.3 trillion by 2015.

The report provides an in-depth look at the shopping habits and spending patterns of Latino consumers today and provides a glimpse into Latino shoppers of the future. While overall spending by non-Hispanic consumers declined during the recession, Latino consumers as a whole spent more. Compared to other Americans, Latinos continue to exhibit more confidence about the future of the American economy and show more optimism that their own personal financial situation will improve in the days ahead.

According to the report, food at home is one of the most prominent categories in which Latino consumers spend relatively more than other consumers. Latinos spend 9 percent of their household budgets on buying food to prepare at home, compared to the 7.5 percent spent by other consumer units.