Hispanic Shopper Spending Highest in Three Years (Infographic)
Acosta, Univision release “The Why? Behind The Buy” U.S. Hispanic Shopper Study
JACKSONVILLE, Fla. – “Hispanic shoppers outperform their total U.S. counterparts,” according to a new report by Acosta Sales & Marketing and Univision Communications Inc.
Acosta, a leading full-service sales and marketing agency in the consumer packaged goods (CPG) industry, and Univision, a leading media company serving Hispanic America, have released “The Why? Behind The Buy” U.S. Hispanic Shopper Study that provides insights into U.S. Hispanic shopper behavior.
As the U.S. Hispanic population grows, this report will help CPG companies and retailers develop marketing strategies to best attract and win with this important consumer segment.
“With the Hispanic population of 57 million expected to double by 2050, brands and retailers recognize that this growth can positively impact their bottom lines. Knowing how these consumers shop and make purchase decisions is important for capturing market share,” said Colin Stewart, senior vice president of Acosta. “The Why? Behind The Buy has found that whether it’s the amount spent on groceries, the enjoyment of shopping, eating dinner at the table or purchasing groceries online—Hispanic shoppers outperform their total U.S. counterparts nearly every time.”
“The Hispanic consumer expects to be earning more and is spending more, as evidenced by the fact that their monthly grocery spend is at the highest point in three years. For Hispanic shoppers, a trip to the grocery store continues to be a social experience and this trait is just as prevalent with Hispanic millennials. Because grocery shopping represents an opportunity to spend time with loved ones and to engage with distinctive store offerings, brands and retailers are presented with more valuable marketing opportunities,” said Liz Sanderson, vice president of strategy and insights for Univision.
The study reveals:
- Spending and Income Are Growing. Hispanic shoppers are more optimistic about their personal economies, which has translated into their highest monthly grocery spending in three years.
- Hispanic shoppers spend an average of $361 a month on groceries compared to $331 spent by the total U.S. shopper population.
- Shopping is Not a Chore. Hispanic shoppers find pleasure in going to the grocery store and view it as another way to spend more time with family.
- 74% of Hispanic shoppers report they enjoy grocery shopping; 16%age points higher than total U.S. shoppers.
- 77% of Hispanic shoppers shop with another person; 51% of total U.S. shoppers do the same. As a result, Hispanics are much more likely to share purchase decisions with their families compared to their total U.S. counterparts.
- Meals Matter. The dinner table takes center stage in the Hispanic household. By making mealtime a priority, Hispanic shoppers are buying more groceries and preparing more meals.
- 65% of Hispanic shoppers ate dinner at the dining table or kitchen counter compared to 55% of total U.S. shoppers.
- Hispanic shoppers average 3.3 meals a day, compared to total U.S. shoppers’ 2.8 meals a day, which translates to 3.5 additional meal occasions each week.
- Meal requests from their families and children drive 23% of Hispanic shoppers’ dinner choices, compared to just 12% of total U.S. shoppers.
- Technology Drives Spending. Hispanic shoppers are more digitally engaged, outpacing the general U.S. population - a fact that extends to online grocery shopping.
- Half of Hispanic shoppers indicated they had purchased a grocery item online in the past year, compared to 40% of total U.S. shoppers.
- A significant 73% of Hispanic shoppers use technology for grocery shopping, compared to 60% of total U.S. shoppers.
Jacksonville, Fla.-based Acosta produced “The Why? Behind The Buy” U.S. Hispanic Shopper Study in partnership with New York City-based Univision via Acosta’s proprietary ShopperF1rst online survey in fall 2014. To access the full report, click here.