Sunday, June 12, 2016

Hispanics will outspend millennials by 2020: Morgan Stanley

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, 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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