With the growing shopping power of the Hispanic population, it's time to engage!
According to the latest figures from Nielsen, the US Hispanic population at 57 million strong, holds approximately $1.4 trillion in buying power. So certainly by now we all know that if you're not looking for ways to appeal to this growing population, you're missing out. To help retailers and brands further understand this group, Acosta and Univision recently released their fourth edition of The Why? Behind The Buy U.S. Hispanic Shopper Study which uncovers some really useful insights.
First of all, on average Hispanic shoppers spend about $30 more a month on groceries than total U.S. shoppers, and more importantly, generally speaking, they enjoy grocery shopping and view it as a social opportunity. The study showed that hispanic moms are more likely to shop with the whole family, meaning other family members have an influence over products. With this in mind, retailers should look to gain loyalty by engaging the whole family with displays, product demonstrations, think of ways to make shopping an experience, not just a chore.
The study also highlighted the fact that the hispanic population is more likely to eat dinner at the table. Mealtime is a priority, and as a result, retailers should look to help the consumer with tips on meal solutions for the entire family. 79% of Hispanic shoppers reported bringing home prepared foods from the grocery store in the past 30 days, so it would also be wise to look to improve and increase prepared food options as well. Help consumers make family mealtime easy, affordable and healthy.
And finally, the study showed an emphasis on technology, noting that the Hispanic shopper is tech-savvy and more likely to use mobile technology, social media, apps and other digital tools for grocery shopping. According to the research, half of Hispanic shoppers indicated they had purchased a grocery item online in the past year, 10% higher than total U.S. shoppers. With this in mind, retailers should look to focus on all digital platforms, from digital coupons to social media advertising, catch the consumer on all levels.