At 57 million strong and wielding approximately $1.4 trillion in buying power, the U.S. Hispanic population is expected to double by 2050, presenting tremendous opportunities for the CPG space. To help retailers and brands best serve this growing consumer powerhouse, our teams at Acosta and Univision recently embarked on the fourth edition of The Why? Behind The Buy U.S. Hispanic Shopper Study and uncovered important shopper behaviors and marketing insights.
The insights focus on three areas to boost engagement with these shoppers:
Not only do U.S. Hispanic shoppers spend an average of $30 more a month on groceries than total U.S. shoppers, they overwhelmingly enjoy grocery shopping. They view shopping as a social endeavor and a chance to spend time with loved ones. In fact, Hispanic moms are far more likely to shop with the whole family, giving those family members opportunities for immediate influence over product choices. Given that Hispanics are experiential shoppers, retailers can gain loyalty by engaging the family with targeted displays, in-store product demonstrations and activities that enhance the joy of shopping.
Focus on the food and the experience
Just as the U.S. Hispanic population enjoys and spends more time grocery shopping than non-Hispanics, they are also more likely to eat dinner at the table, by a comparison of 65% to 55%. With mealtime being a priority, retailers and brands can increase their appeal by offering meal solutions that appeal to the entire family. This means evaluating prepared foods — especially as 79% of Hispanic shoppers reported bringing home prepared foods from the grocery store in the past 30 days — and developing new products that will appeal to Hispanic households who seek out new products across the store.
Deliver with digital
When it comes to technology, the Hispanic consumer is a tech-savvy trendsetter. Hispanics are early adopters of new technologies and are significantly more likely to use mobile technology, social media, apps and other digital tools for grocery shopping. Half of Hispanic shoppers indicated they had purchased a grocery item online in the past year, which is 10 percentage points higher than total U.S. shoppers. As a result, it is in retailers’ and brands’ best interests to appeal to the Hispanic shopper through tech-centric experiences, such as digital coupons and new product introductions.
As Hispanic consumers are significantly more optimistic about their household’s finances and expanding their buying power, retailers and brands have ample opportunities to cater to this consumer segment as long as they deliver experiences and products that speak directly to the social culture Hispanics hold dear.
To access the full The Why? Behind The Buy U.S. Hispanic Shopper Study, visit www.acosta.com/hispanic-why.
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