The Purchasing Power of the Hispanic Consumer

THE PURCHASING POWER OF THE HISPANIC CONSUMER PROJECTED 2015 PURCHASING POWER 2010 $1.5 TRILLION $1 TRILLION SPENDY SHOPPERS Spanish-Preferred Hispanic Households English-Preferred Hispanic Households DOLLARS Non-Hispanic Households SPENT PER TRIP 46 47 48 49 50 51 52 53 54 150 SHOPPING TRIPS PER YEAR 148 146 144 142 Hispanic Households shop less, but spend more money each trip. This makes each 140 Spanish Preferred English Preferred Non-Hispanic Households Households marketing connection much more valuable. Marketers must understand Hispanic culture to develop trust with the consumer. MOBILE SHOPPERS Who shops with a tablet? 25% (43% OF NON-HISPANICS OF HISPANICS Who shops with a mobile phone? 33% 56% OF NON-HISPANICS OF HISPANICS 60% of Hispanic Households own smartphones compared to 43% of general market households SHARING SHOPPERS 48% Hispanics Non-Hispanics 36% 31% 30% 18% 13% Use social like to be first media sites to share products share opinions to shop with friends & write reviews What does this mean? It means marketers need to develop incentives to get Hispanic consumers to share about their product. The power of word-of-mouth is much more powerful in Hispanic communities than in non-Hispanic communities. SOURCES: http://www.nielsen.com/us/en/reports/2012/state-of-the-hispanic-consumer-the-hispanic-market-imperative.html http://www.centerforhispanicleadership.com/latino-shop.jpg For more information about Hispanic Marketing Services, visit www.MarketingMavenPR.com ĮMarketing Maven DESIGNED BY CARLY BOULIER