latino lingo

All things related to effective Hispanic marketing, Hispanic advertising and Hispanic public relations.

Friday, November 19, 2010

Hispanic consumers spend more on average during holiday season

During the holiday season, Hispanic consumers spend on average $730.30 compared to non-Hispanics’ $683.08, and they sneak in more purchases for themselves – $141.95 versus $104.46 for non-Hispanics.

The data comes from a BigResearch study on Hispanic holiday spending trends, and is mentioned in the blog "The Lipstick Economy" along with these other differences between Hispanics and non-Hispanics:

1. Hispanics list clothing and accessories as their number one gift this year, versus non-Hispanics who prefer gift cards. Also indexing high among Hispanics are electronics and beauty items.

2. Quality and customer service are more important in determining where they shop, versus discounts or price; even though 67% say the economy will affect their spending plans this year. Discount stores are still the number one shopping destination, followed by department stores.

3. Hispanics are 2x as likely to use their smartphone to research a purchase. The Hispanic population is generally younger and 67.6% own a smartphone compared with 57% non-Hispanics.

4. According to comScore, online Hispanics value opinions, recommendations and reviews of others. They are more likely to search the Internet (43% Hispanic v. 37% non-Hispanic) and comparison shop (39% Hispanic v. 31% non-Hispanic). And they have more positive associations and are more receptive to online advertising.

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