Staci CovkinRepresenting 16 percent of the U.S. population, Hispanics are the nation’s largest multicultural group. Increasing at a 43 percent rate, Hispanics accounted for 56 percent of U.S. growth during the past decade and are expected to comprise nearly 30 percent of the population by 2050. This rapidly expanding group also packs an impressive purchasing punch. Hispanics spent more than $135 billion on CPG in 2010 and are projected to spend 25 percent more in 2020— more than double the national growth rate.
SymphonyIRI’s HispanicLink 2012 report includes a Hispanic Shopping Basket analysis component and a Hispanic Survey and provides deep insight into the Hispanic population’s shopping habits. HispanicLink breaks down this diverse and complex group, comparing the purchasing and shopping habits of Unacculturated Hispanics, Acculturated Hispanics, and the non-Hispanic population. The survey was fielded through SymphonyIRI’s National Consumer Panel and supplemented by personal interviews with Unacculturated individuals living in the top U.S. Hispanic markets: Los Angeles, New York, Chicago, Miami and Houston.
The Q4 2012 HispanicLink is enhanced with new information, including SymphonyIRI’s EconoLink Segmentation, which examines how the economy has influenced Hispanic shoppers’ CPG-related attitudes and behaviors; SymphonyIRI’s DigitaLink Segmentation, which explores the extent of Hispanics’ new media usage and the roles that digital devices are playing in their lives with respect to grocery shopping; and data on their Walmart shopping preferences.
Among many additional insights, HispanicLink data indicates that compared with non-Hispanics, Hispanic shoppers over-index largely in terms of digital media usage for decision-making and grocery purchase activities. Hispanics are also more likely than non-Hispanics to make shopping decisions based on availability of low-price options. Among Hispanic shoppers:
- 66 percent make a shopping list before heading to the store
- 54 percent make additional, unplanned purchases after seeing products or sales in store
- 41 percent download coupons from manufacturer websites
- 26 percent use social media sites, such as Facebook and Twitter to get coupons
- 17 percent use social media sites to research products
CPG companies that understand the values and attitudes of various subsets of the Hispanic market will be able to leverage these insights to develop targeted marketing programs and connect with new shoppers. With this in mind, SymphonyIRI is pleased to feature two special offers on HispanicLink 2012 for Q4:
1. HispanicLink Package with a 20% Discount
- Hispanic Survey + Shopping Basket: $32,000 (originally $40,000)
- Survey Only = $24,000 (originally $30,000)
- Shopping Basket Only = $12,000 (originally $15,000)
- Bonus: “Hispanic Trip Mission Snapshot,” including Trip Type, a comparison of quick trips, special purpose visits, fill-ins and pantry stocking, including average money spent, percentage of all trips, and trip share percentage change, with two new survey questions regarding trip strategies and digital media usage, updated through October 2012
2. Channel-Specific Hispanic Market Basket Analyses and “Slices” of the Hispanic Survey. These reports offer a unique opportunity to tap into and better understand the growing Hispanic market. Both can be purchased for as little as $5,000 and delivered in days.
For more information on the Hispanic population, please refer to SymphonyIRI’s “Diverse and Distinct” Point of View, published in June 2012. For more information on the HispanicLink package or the survey specials, please contact me at Staci.Covkin@SymphonyIRI.com .
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