SHOPPERS INSIGHT set for a 25% climb to $1.5 trillion by 2015, according to The Multicultural Economy report from the Selig Center for Economic Growth at the Terry College of Business at the University of Georgia. “Despite the recession, the underlying growth trends for Hispanics and Asians in the U.S. are still very strong,” says Jeff Humphreys, director of the Selig Center and the author of the report. “Minorities have a lot of economic clout, and these groups in particular are experiencing growth in buying power that greatly exceeds that of the general population.” Hispanic households spend more on groceries than the general population and tend to have larger families with nearly twice as many children under the age of 18. Hispanic consumers are more alert to instore promotions and less affected by advertising and product placements. “The Hispanic market alone, at $1 trillion, is larger than the entire economies of all but 14 countries in the world–smaller than the GDP of Canada but larger than the GDP of Indonesia,” Humphreys says. Favorable demographic forces are primarily responsible for the anticipated growth in Hispanic buying power. Population growth is expected to continue, and the relatively young Hispanic population means that proportionally more young Hispanics are starting their careers and moving up their career ladders. Increased entrepreneurial activity and a rising level of educational attainment also illustrate the upward mobility of Hispanics. JUNE 12 | PANADERIA 39