NEW YORK, Sept. 28 /PRNewswire/ -- Hispanics in the United States, the
fastest-growing minority group, are increasingly the major driving force
behind revenue growth in many consumer product and service markets, according
to The U.S. Hispanic Market, a new report from market research publisher
Packaged Facts, a division of MarketResearch.com.
Hispanics were responsible for 15.6% of the growth in aggregate consumer
expenditures that occurred between 1998 and 2003, the report noted. Total
spending by Hispanic households increased by $140 billion during this period.
Looking at specific markets, the report found that, between 1998-2003,
Hispanics were responsible for nearly half (48.3%) of the growth in spending
on cereals and cereal products and more than one-third (34.6%) of the growth
in expenditures for furniture.
Between 1998 and 2003, total expenditures for men's and boys' apparel grew
by only $141 million, but Hispanic expenditures increased by $2.2 billion.
Packaged Facts estimates that the buying power of the Hispanic market is
currently $766 billion, and will approach $1.1 trillion by 2010.
"Although much has been written about the exploding Hispanic population in
the U.S., we're only now starting to appreciate the true impact this growth is
having in the marketplace," said Don Montuori, publisher of Packaged Facts.
"Hispanics will account for one-sixth of the U.S. population by 2010, and no
company can afford to overlook these consumers."
Now in its 6th edition, The U.S. Hispanic Market analyzes key
characteristics of the Hispanic population and assessing the role of Latinos
in the American economy. The report examines the consumer dynamics of Latino
families and their kids, provides a comprehensive analysis of the Latino
family as a consumer unit, and highlights crucial aspects of consumer behavior
on the part of Latino parents and their kids in a range of segments that
include food at home, fashion and personal care, home furnishings,
entertainment choices, eating out, and use of technology and the Internet.
Priced at $3500, this report can be purchased directly from Packaged Facts
by clicking http://www.packagedfacts.com/pub/1079261.html. It is also
available at MarketResearch.com.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes research
reports on a wide range of consumer industries, including consumer goods and
retailing, foods and beverages, and demographics. For more information visit
http://www.PackagedFacts.com, or contact Irina Frukhtbeyn at 301-468-3650 x203, or
ifrukhtbeyn@marketresearch.com.
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