Hispanics to pass blacks in buying power
Study: Fastest growing ethnic minority group to spend $863 billion in 2007
Hispanics will outpace blacks as the most powerful minority consumers in the country next year, according to a new study from the University of Georgia.
Still, the vast majority of states will continue to see blacks as their strongest minority market because the nation's Hispanic population is concentrated in a handful of areas, study author Jeffrey Humphreys said.
Hispanics are expected to have buying power of $863.1 billion, compared with black buying power of $847 billion in 2007. Hispanics - the nation's largest and fastest-growing ethnic minority - will comprise about 8.5 percent of the nation's total consumer market next year.
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Source - MSNBC
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