According to a new study by market research publisher Packaged Facts, the 46 million Hispanics living in the United States wield increasing buying power totaling more than $980 billion in 2008. It is projected to reach $1.3 billion in 2013.
Tatjana Meerman, publisher of New York-based Packaged Facts, said that "Latinos will change the profile of American society over the next four decades." "The Hispanic population will grow much quicker than other population segments, and Hispanic consumers will represent an increasing percentage of the American consumer base."
The study shows revealing information, such as the role of Gen-Y Latinos (ages 18-29) and Gen-X Latinos (ages 30-44). They are particularly influential, because they control more than 60 percent of all Hispanic buying power. These young Hispanic adults generate significant consumer spending both for themselves and their families. They have a huge impact in the American economy, especially in entertainment, apparel and children's items.
More information at http://www.packagedfacts.com