AMG Strategic Advisors and Univision Communications Inc. have released findings from the Hispanic The Why? Behind The Buy research report analyzing Hispanic grocery shopping behavior and spending trends. The Hispanic The Why? Behind The Buy reveals important insights into the behavior and buying patterns of Hispanic consumers and provides actionable tips to help consumer packaged goods (CPG) brands and retail marketers better appeal to this important demographic.
“The Hispanic The Why? Behind The Buy offers insights to help better understand the culturally distinct ways in which Hispanic consumers shop and spend,” said AMG Strategic Advisors Senior Vice President Elena Etcharren. “CPG and retail marketers may need to modify their strategies to ensure they are broadly appealing to and engaging with this important demographic of shoppers.”
“With shopping, there are key differences and important similarities between the Hispanic consumer and the total population,” said Liz Sanderson, vice president, Brand Solutions at Univision Communications Inc. “We believe retailers and CPG companies who understand and celebrate these nuances – with true authenticity – will experience incremental growth and success with Hispanic consumers.”
The findings of the Hispanic The Why? Behind The Buy research were recently discussed in a “Hispanic 411: Insights to Grow Your Business” webinar available for replay here. To download a more detailed report, visit http://www.acosta.com/hispanic-why.
The Why? Behind The Buy Hispanic edition reveals that:
Hispanic shoppers are optimistic and have a positive, forward-looking view that transcends today’s struggles
32 percent of Hispanic shoppers expect their household income to increase over the next year (vs. 22 percent of non-Hispanics)
25 percent of Hispanic shoppers expect a positive change in employment in the coming year (vs. 14 percent of non-Hispanics)
Hispanic shoppers have integrated ‘savings’ strategies into their grocery shopping habits
Over the last year, 55 percent bought items on sale, and 45 percent used coupons
59 percent of Hispanic shoppers purchase store brand products to save money
Hispanics are more likely to shop with others. Only 22 percent of Hispanics shop alone versus 46 percent of non-Hispanics
The Hispanic shopping budget is large, at an estimated $425 per month
Hispanic shoppers across all income brackets are spending more on routine trips, with the majority spending more than $100 per trip
Hispanic shoppers are increasingly using digital technologies for grocery shopping and planning
Popular online shopping tools include coupons, emails and shopping lists
Retail and brand websites are most popular websites among Hispanic shoppers who use interactive tools for grocery shopping
The Hispanic The Why? Behind The Buy was produced with research from a random sample of 1,014 U.S. Hispanic shoppers using both online and face-to-face interviews via Acosta’s proprietary ShopperF1rst.
To download report CLICK HERE.