License Global
July 20, 2018
NPD’s Retail Tracking service determined that spending on general merchandise at brick and mortar increased 8 percent in Q1, year over year. Key contributors were increases in the top 20 Hispanic core-based statistic areas, which grew by 12 percent.
The shift is the largest since declines in the late part of 2016. Spending among Hispanic consumers has been on the rise for the last few quarters with data points showing a strong correlation.
“Unlike last year, Hispanics are spending, which leads to a very different story for this important market and U.S. retail in general," says Marshal Cohen, chief industry advisor, The NPD Group. “As Hispanic shoppers continue to feel more confident with the immigration policy and their improved job market, they resume their pre-election slowdown position of outpacing overall U.S. consumer spending.”
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