Almost 60 percent of the 55 million Hispanics in the U.S. are millennials or younger.
According to IRI’s latest report on Hispanic shoppers, Hispennials are where the money and opportunity is. Almost 60 percent of the 55 million Hispanics in the U.S. are millennials or younger. They account for 80 percent of the segment’s growth, shop online more than non-Hispanics and are extremely open to trying new products.
The IRI report also finds that “Beyond seeking sales and deals, Hispanics also gather more information and research online prior to shopping, and this is especially true among “Hispennials”, where according to Staci Covkin, principal of Consumer and Shopper Marketing for IRI, they see that behavior averaging 15-20 points higher, especially when it comes to gathering information from social media or a blog when buying consumer packaged goods.”
Hispanics often shop without a list. They enjoy the overall grocery shopping experience and are open to changing their mind about initial product choices to explore other brands. They:
• Walk through the grocery store aisles to help them remember other items they wanted or needed.
• Enjoy looking at all the different product offerings on the shelf before making their final selection.
• Want to be able to read the package and specific labels on products before purchasing.
They view shopping as a social occurrence, they want to experience food, have fun and learn.
IRI found that compared to non-Hispanics, they are even more influenced by reviews and recommendations and gather more info online from social media and blogs prior to shopping.
Covkin says that “Hispanics move between digital interfaces and often complete their online transactions in the store or compare prices in the store,” “So, it’s very important to make the entire buying process seamless – both online and offline.”