AMG Strategic Advisors, the growth strategy consulting unit of Jacksonville, Fla.-based Acosta Sales & Marketing, and Univision Communications Inc., the leading media company serving Hispanic America, have released findings from the Hispanic The Why? Behind The Buy research report analyzing Hispanic grocery shopping behavior and spending trends. The report reveals insights into the behavior and buying patterns of Hispanic consumers and provides actionable tips to help consumer packaged goods (CPG) brands and retail marketers better appeal to this important demographic.
“The Hispanic The Why? Behind The Buy offers insights to help better understand the culturally distinct ways in which Hispanic consumers shop and spend,” said Elena Etcharren, AMG Strategic Advisors SVP. “CPG and retail marketers may need to modify their strategies to ensure they are broadly appealing to and engaging with this important demographic of shoppers.”
Findings from the report include the following:
Hispanic shoppers are optimistic and have a positive, forward-looking view that transcends today’s struggles.
- Thirty-two percent of Hispanic shoppers expect their household income to increase over the next year versus 22 percent of non-Hispanics.
- Twenty-five percent of Hispanic shoppers expect a positive change in employment in the coming year versus 14 percent of non-Hispanics.
Hispanic shoppers have integrated “savings” strategies into their grocery shopping habits.
- Over the last year, 55 percent bought items on sale, and 45 percent used coupons.
- Fifty-nine percent of Hispanic shoppers purchase store brand products to save money.
Hispanics are more likely to shop with others. Only 22 percent of Hispanics shop alone versus 46 percent of non-Hispanics.
The Hispanic shopping budget is large at an estimated $425 per month.
- Hispanic shoppers across all income brackets spend more on routine trips, with the majority spending more than $100 per trip.
Hispanic shoppers are increasingly using digital technologies for grocery shopping and planning.
- Popular online shopping tools include coupons, emails and shopping lists.
- Retail and brand websites are the most popular websites among Hispanic shoppers who use interactive tools for grocery shopping.
“With shopping, there are key differences and important similarities between the Hispanic consumer and the total population,” said Liz Sanderson, VP, Brand Solutions at Univision Communications Inc. “We believe retailers and CPG companies who understand and celebrate these nuances - with true authenticity - will experience incremental growth and success with Hispanic consumers.”
The Hispanic The Why? Behind The Buy was produced with research from a random sample of 1,014 U.S. Hispanic shoppers using both online and face-to-face interviews via Acosta’s proprietary ShopperF1rst. The research was recently discussed in a “Hispanic 411: Insights to Grow Your Business” webinar available for replay online.