Latinos will outspend millennials by 2020

*Millennials? ppfftt . . . Check it out. VL


market_watch_logoBy Tonya Garcia, Market Watch

[tweet_dis]Hispanic growth in income and population across all ages will drive increases in consumer spending that will exceed the shopping totals of the millennial demographic by 2020[/tweet_dis], Morgan Stanley analysts said Monday.

Hispanics should grow their “share of consumer wallet,” otherwise known as retail spending, by 1.6 percentage points by 2020 outpacing millennial growth of 0.6 percentage points and growth for whites over the age of 65 of 0.4 percentage points, Morgan Stanley said in a research report.

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[tweet_dis]“Income progress” among Hispanics was larger than any other group in 2013 and 2014[/tweet_dis], the bank said. Areas that should see increases as a result include food at home . . . READ MORE


[Photo courtesy of USDA]

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