Without the influence of Hispanic spending and population patterns, restaurant industry sales would have declined during 2008 through 2010, according to Latino Foodservice Trends in the US, a report from Packaged Facts.
Hispanic share of consumer-driven restaurant sales has ticked upward from 12% in 2006 to 12.7% in 2011, although Hispanic share of limited service sales decreased slightly over most of this period.
From 2005 to 2025, the US Census has projected 78% growth in the Hispanic population, compared to 15% growth in the general population. Put another way, some 70% of the estimated 47.2 million in population growth during 2005-25 is attributed to Hispanic population growth.
While the fastest growing segments of the Hispanic population will be those age 45 or over, under 25s are still expected to comprise 43.2% of all Hispanics, underscoring the long-term importance of younger Hispanics to the restaurant industry.
According to David Sprinkle, publisher of Packaged Facts, younger consumers are more likely to use limited-service and snack and beverage restaurants than average, and likely to use them more often-and Hispanic consumers are no exception.
For example, Hispanics age 18-24 are about 25% more likely than Hispanics in general to use both limited-service and at least 14 times per month. While non-Hispanic usage similarly tilts to youth, the prevalence of younger consumers in the Hispanic population makes Hispanic youth that much more important to the restaurant industry.
Source: Packaged Facts
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