Fast-Growing Consumer Spending Categories, 2013-2018 [CHART]

Personal consumption expenditures on consumer goods surpassed $10 trillion in the US last year for the first time, estimates Mintel in nearly-released data, and is forecast to exceed $12 billion by 2018. Beyond essentials such as housing ($2.1 trillion) and transportation ($1.2 trillion), Americans are also spending significant amounts on tech and communications, and are forecast to considerably increase their spending on non-essentials such as travel and entertainment.

Those increases will be partly due to Americans becoming more “spend-centered,” according to the researchers, but also will be the result of a huge number of relatively well-to-do Baby Boomers reaching retirement and spending on non-essential items. Read the rest at MarketingCharts.