: High educational attainment, increased entrepreneurship, and rapid population growth.
: In 2024, Asian consumers spent 11% more on retail than the average U.S. household. Hispanic/Latino Americans : $2.1 trillion to $4.1 trillion
Buying power—defined as total personal income after taxes—has reached a historic in the United States as of mid-2020s projections. While every racial and ethnic minority group is making financial gains, the rate of growth varies significantly, with Asian and Hispanic markets leading the pace of expansion. Buying Power by Major Ethnic Group
: Hispanic household spending accounted for 15% of total U.S. consumer spending in 2024, though growth per household showed signs of plateauing by 2025.
: Black consumers drive outsized value in beauty, fashion, and luxury, with luxury spending set to reach 25–30% of the U.S. total by 2025. Native Americans : $115 billion to $140 billion (estimated) Growth Pace : Grew by 67% from 2010 to 2020.