With sales of Hispanic food and beverages projected to reach $21 billion in 2020, the influence of Hispanic culture in the U.S. cannot be denied. Being 55 million strong, Hispanics make up 18 percent of the U.S. population and boast $1.5 trillion in spending power. That’s no small chunk of change. Hispanic shoppers are a crucial demographic for brands and retailers to engage with as their market size continues to grow. Here are some statistics and insights to advise your marketing strategies.
Young Hispanics are proving their influence.
U.S. Hispanic shoppers are more engaged throughout the path to purchase.
- 38% search for sales and promotion deals online before making a shopping trip (IRI Worldwide)
- 24% percent compare prices offline before making a shopping trip (IRI Worldwide)
U.S. Hispanics are significantly influenced by social media and blogs.
- When buying beauty/skincare products, 33% read a blog and 33% get information from social media, respectively (IRI Worldwide)
U.S. Hispanics prefer inexpensive and healthy food.
- 68% cook more frequently at home (Statista)
- 67% select products to create more meals at the lowest total cost (Statista)
- 59% bring snacks/food from home to work/school (Statista)
- 47% eat healthy foods even though it’s more expensive (Statista)
- 46% shop around to get better grocery deals (Statista)
U.S. Hispanics are online and on mobile.
- 83% of Hispanics who access the internet on a mobile device use it while in a store to inform a purchase in real time (Think with Google)
- They use the internet more than TV when gathering information about a purchase (Think with Google)
- Among those who recall seeing online ads and content, 93% of them take action, such as performing a search, visiting a company’s website or making a purchase (Think with Google)