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A new study reveals growth in back-to-school buying power was driven by Hispanic households.
Hispanics, Asians, African American and non-Hispanic white spending habits were analyzed over an 8-year period - looking at common back-to-school products and services, such as children’s apparel, books and supplies, private bus transportation, food and housing at private schools and colleges, elementary, high school and college tuition.
Here were some other findings of the report:
- Back-to-school spending by Asian Americans and African Americans also rose.
- The overall national average leveled off after 2009.
- Hispanic households are spending more in higher education. Hispanic expenditures for college tuition grew by 124 percent during the 8-year period studied.
- Non-Hispanic household expenditures in this category grew by 61 percent.
(Geoscape)
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