Phoenix, AZ -- (SBWIRE) -- 07/18/2012 -- According to the report from the commercial real estate in Arizona firm, Arizona was ranked as the second fasted growing Hispanic consumer market in the nation between 1990 and 2008, with a 255% growth rate. This explosion in the state’s Hispanic population significantly impacts local businesses, especially given this demographic’s immense buying power.
The study shows in Arizona, the purchasing power for the Hispanic population totals $31.3 billion making Arizona the seventh largest Hispanic market in the U.S. Furthermore, it is projected the group’s purchasing power in the state will reach $47.9 billion in 2013. This proves how important it is for businesses to take into account the needs of the state’s Hispanic population.
Further demonstrating the strength of the Hispanic consumer market in Arizona, the study shows the group has a greater level of confidence in the economy than other demographics. About 49 percent of Hispanic consumers believe the economy will eventually rebound to what it was prior to the recession, compared to 41 percent of the general population.
The report also discusses the Hispanic population’s annual household incomes as compared to other races as well as their buying habits, including how often Hispanic families go to the grocery store, how many kids they have in the household, how often they use the Internet and much more.
With more than two decades of experience in commercial real estate in Phoenix, De Rito Partners, Inc. offers an extensive range of services, including landlord representation, project leasing, tenant representation, investment sales, acquisitions and property management. The firm exclusively represents more than 200 shopping center owners and more than 40 local and national retailers.
According to the company, “We combine our extensive market insights with rich and comprehensive financial analyses to structure deals that work for our clients – whether that means getting top dollar, prime location or the best agreement.”
For more information, visit http://DeRito.com
About De Rito Partners, Inc.
Founded in 1992, De Rito Partners is the largest specialty commercial real estate brokerage firm in Phoenix, Arizona. The company’s 30 seasoned brokers provide a wide range of services to businesses and tenants across the Valley of the Sun and all corners of Arizona.