As Latino Sneakers Sales Go, So Goes the GDP

This Latino sneaker sales index is serious stuff. VL

By Victor Landa, NewsTaco (1.5 minute read) 

There’s news today from the Latino sneaker sales index, which is one of the most reliable economic indicators for U.S. Latinos. I found there’s a correlation between sneaker sales to Latinos and the GDP. It starts with news from Quartz:

“Research firm NPD Group says Latino customers accounted for about 23% of US [sneaker] sales in 2016. But since the start of 2017, NPD’s consumer-tracking service has registered a high-teens percentage decline in sales of sneakers to Hispanic consumers.”

This Latino sneaker sales index is serious stuff. Last year, before Trump, sneaker sales to Latinos increased by one point. Economists are looking at this for the ripple effect because U.S. Latinos spend more money on a daily basis than other groups – at last count we spend $96 dollars a day, where whites spend $88 and blacks $86.

And if the sneaker scale doesn’t convince you . . .  

Fortune Brainstorm TECH

. . . there’s this from Brian Cornell, the CEO of Target.

Speaking at a tech conference in Aspen, Colorado, yesterday he said this about Latinos: “They are staying at home. They are going out less often, particularly along border towns in the United States. You’re seeing a change in behavior.” Cornell cited an NDP statistic that finds an 11 percent drop in Latino spending.

Target is fervently trying to figure out how to fix this.

And if you’re still not convinced . . .

Ducere Global Business School

Robert Kaplan, president and CEO of the Federal Reserve Bank of Dallas, spoke at a meeting of the Council on Foreign Relations and said that millions of immigrants are staying home and not shopping:

“On the margin — and it’s too soon for the data to pick it up but you hear it anecdotally — I believe we are going to see it, I believe those people are more likely to save than to spend. And those two effects have some muting effect on consumer spending and therefore GDP growth.”

Maybe “as the Latino sneaker sales index goes, so goes the GDP“ is a stretch, but I’m keeping an eye on it anyway.

Subscribe today!

  • This field is for validation purposes and should be left unchanged.

Must Read

U.S. citizen detained overnight by ICE – they thought he was undocumented

Victor Landa July 6, 2017

By Victor Landa, NewsTaco (1.5 minute read)  This is startling news. Up until last night at a dinner conversation I believed that the idea that an American citizen would be […]

The moment Florida cops pull over an Afro-Latina and find she’s the State Attorney

Victor Landa July 13, 2017

By Victor Landa, NewsTaco Patrol cops in  Orlando, Florida, stopped a white sedan recently becasue they ran the tags and didn’t get a return, plus, the tint on the windows […]

Vietnam War veteran fears he could be deported

Victor Landa July 7, 2017

*This Vietnam veteran, born in Mexico, was awarded two Purple Hearts and given U.S. citizenship after his service. He’s misplaced his documents and after paying $345 the government wants more […]

Ted Cruz gets an earful in McAllen for July 4

Victor Landa July 5, 2017

*I’m posting this because it was mostly Latinos, organizing, protesting, making their voices heard. Everyone needs to know that Latinos in deep South Texas are standing up. VL By Patrick […]

Henry Cisneros: Why Can’t Americans See Latinos Are Country’s ‘Saving Grace’?

Victor Landa July 7, 2017

*Good question. I think it’s because we’re not the ones telling our story. We need to fight for our narrative. VL By Suzanne Gamboa, NBC News (1.5 minute read)  SAN […]

Remembering Gus Garcia, Mexican-American Civil Rights Pioneer

Victor Landa July 27, 2017

By Raul A. Reyes, NBC News (7.5 minute read)   In his heyday, Gus Garcia cut a dashing figure in Texas legal and social circles. He was a key member […]

Cornbread: A Texas Mexican Recipe

Victor Landa June 30, 2017

What is NewsTaco? NewsTaco provides innovative and insightful news, critique, analysis and opinion from a Latino perspective in a 24-hour world. We value feedback from our readers, feel free to […]

Texas High Schoolers Rise Against Anti-Immigrant SB 4 Law

Victor Landa July 15, 2017

By Viri Sanchez and Karla Quinones  (2.5 minute read) Four months ago, on February 16, thousands of high school students across Texas joined in a collective effort to stand up […]