The overlooked power of Latino consumers

The Indicator from Planet Money

NPR

Business

4.7 • 9.2K Ratings

🗓️ 21 December 2022

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

The U.S. economy does a bad job of serving the Latino population. Today, we hear from a researcher about why changing that is a win-win, and from one entrepreneur who took matters into her own hands.

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Transcript

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0:00.0	NPR.
0:12.2	It is the season of gifting, which is also to say that it is the season of consumption
0:18.7	of the consumer.
0:19.9	What did you get me this year, Adrian?
0:21.6	It is being ordered right now.
0:23.5	I don't want to ruin the surprise.
0:26.8	Supply chain issues?
0:27.8	That's it.
0:28.8	I see.
0:29.8	Well, you know what?
0:30.8	Let's just maybe get on with the episode.
0:34.0	Okay.
0:35.0	I see what's going on here.
0:36.4	Okay.
0:37.4	So maybe you and I are not exactly model gift givers here.
0:40.2	But in general, consumers are what have kept the economy going through lockdowns and stock
0:45.8	market dips and high inflation.
0:47.9	Through all these things, consumer spending has chugged along.
0:51.3	Today, it makes up more than two-thirds of our gross domestic product.
0:54.9	Yet, as much as consumers are doing to keep the economy going, a recent report from McKinsey
0:59.6	suggests that one category of consumers is being especially overlooked by companies.
1:05.0	And that is Latinos.
	...

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