JACKSONVILLE, Fla. — Hispanic consumers tend to be more optimistic about their financial prospects than non-Hispanics, with 32% expecting their household income to increase during the next year, according to research released Monday.
That compares with 22% of non-Hispanics who expect household income gains, according to "The Hispanic Why? Behind the Buy" research report from Acosta’s AMG Strategic Advisors here and New York-based Univision Communications. The report also notes that 25% of Hispanics surveyed said they expect a positive change in employment in the next year, vs. 14% of non-Hispanics.
Among other findings, the report noted that 45% of Hispanic shoppers used grocery coupons, and 59% said they purchase store brands to save money. Hispanic shoppers of all income levels are spending more on routine trips than non-Hispanics, however, with the majority spending more than $100 per trip.
In addition, non-Hispanics are more than twice as likely to shop alone as Hispanics — 46% vs. 22%.
“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,” said Elena Etcharren, senior vice president, AMG Strategic Advisors.
"The Hispanic 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 Hispanic research is a special edition of the bi-annual "The Why? Behind The Buy" research conducted by AMG Strategic Advisors and published by Acosta Sales & Marketing.
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