May 4, 2016

TRUMP'S MESSAGE? "WHO NEEDS 'EM?":

Hispanics Will Outspend Millennials In US By 2020 As Population And Income Grow: Analysts (ABIGAIL ABRAMS,  05/03/16, IB Times)

Hispanics will soon surpass millennials as the group with the most spending power in the U.S., MarketWatch reported Monday. Morgan Stanley analysts found that income and population growth among Hispanics of all ages will push the group past millennials in terms of consumer spending in just four years. [...]

"The aging of the population and the rise of millennials will continue to impact the consumer landscape over the next five years," the report said. "However, the share of consumer wallet controlled by the Hispanic population will experience the fastest pace of growth, driven by the addition of 8.2 million people -- 52% of total U.S. population growth -- and above-average per capita income growth."

The Hispanic population in the U.S. hit 55.4 million in 2014, accounting for 17.4 percent of the country's total population, according to data from the Census Bureau. While fewer Hispanics are immigrating to the U.S. than in the past, their population is still projected to reach 106 million by 2050.

Hispanics are also one of the youngest groups of any racial or ethnic demographic with a median age of 29. Unlike other groups, nearly 60 percent of Hispanics in the U.S. are millennials or younger, the Pew Research Center said in April.

Posted by at May 4, 2016 4:10 PM

  

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