Make Room For Marketers On The Hispanic Path To Purchase
By: Staff | Sep 4 2015
The growth of Hispanic consumers’ influence in the United States has been nothing short of explosive. Today, they represent one of the most powerful–and attractive–shopper segments in the consumer packaged goods (CPG) industry, and for good reason. Not only do the 57 million U.S. Hispanics already boast an estimated collective spending power of more than $1.3 trillion, their spending and income is only growing.
In fact, the latest edition of “The Why? Behind The Buy U.S. Hispanic Shopper Study” from Acosta and Univision Communication Inc. reveals that Hispanic shopper spending has hit a three-year high with an average expenditure of $361 per month on groceries, a full $30 more than what the average total U.S. shopper spends. Looking forward, Hispanic shoppers are also more optimistic about their personal economies; 38% indicated that they expect a positive change in their total household incomes in the coming year, compared to just 23% of total U.S. shoppers.
U.S. Hispanics are already a driving force in grocery retail, responsible for a disproportionate amount of growth in certain categories, such as health and beauty care, which now outpaces total store growth. What’s clear is that Hispanics have clout, and lots of it. What’s not so clear is how marketers can best appeal to this shopper segment and capture market share. The key lies in knowing how these consumers shop and make purchase decisions.
Hispanics are more digitally engaged, outpacing the general U.S. population when it comes to technology. They are early adopters of new technologies and have a significant lead over their U.S. counterparts when it comes to both smartphone ownership (81% versus 74%) as well as tablet penetration (72% year-over-year growth for Hispanics versus 56% for total U.S. shoppers).
It’s no surprise that there is a compelling draw for these types of devices from an entertainment standpoint, but Hispanics are also significantly more likely to use mobile technology, social media, apps, and other digital tools for grocery shopping. Half of Hispanic shoppers have indicated they had purchased a grocery item online in the past year, which is a notable 10 percentage points higher than total U.S. shoppers.
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