The Hispanic Market Is Booming Both Online And Offline, Nielsen Reports

Cultural generalizations can be misleading. But shopping is a communal affair for Hispanic consumers — 33% like to buy things that family and friends approve of, versus 20% of the general population, according to La Oportunidad Latinx: Cultural Currency and the Consumer Journey, a study released Tuesday by Nielsen.

Indeed, 40% of Hispanics seek such advice from people close to them — 10% more than other consumers. And 79% shop for groceries with someone else.

Brands have an opportunity here — there are now 60 million Hispanics in the U.S., a fifth of the total population. Their buying power total is expected to hit $1.9 trillion by 2023. But remember: 73% want their children continue the family’s cultural traditions.

Moreover, Hispanics are plugged into technology, and can provide brands with “a fast track to making their produce"‘go viral" if those marketers seek insights and develop Latinx strategies, Nielsen writes.



And, almost twice as many Latinx shoppers prefer to visit websites/apps on their smartphones as on a computer or tablet.

On the brick-and-mortar side, nearly 50% of all Hispanics feel shopping in-store is a great way to relax, 15% higher than other consumers. And 57% enjoy browsing through stores, 10% more than other Americans. 

They also tend to be open to email offers. Take the Toro/Campbell family, which consists of Andrew (a Grenadian), Kristina (a Puerto Rican) and Zak (a Puerto Rican).

The interview started with this give and take with Kristina: 

Q. How do you research new products and/or brands?

A. Through trusted magazines (online or in print) sources, occasionally blogs and YouTube channels.

Q. How do you prefer to receive shopping deals? Why?

A. Email, so I can filter through them easily.

Likewise, the Perez household, consisting of Lennis (Venezuelan-American) Scott (American) and Adelso (Venezuelan): 

Asked the same question as the Toro/Campbell family, Lennis responded as follows:

Q. How do you research online products and/or brands?

A. Offline research and word of mouth. 

Q. How do you prefer to receive shopping deals? Why? 

A. Email. I don’t like to keep paper deals. I feel the paper gets wasted. Or I tend to forget it at home.

Granted, this is anecdotal evidence. But email is an important part of the mix when marketing to this audience.

And Hispanics are more likely than other shoppers to use social networks to research purchases. The second most-cited reason for visiting a social site is to receive exclusive offers, coupons or discounts, which is 22% more than average.

“The Latinx path to purchase is social and circular, meaning recommendations of friends, family, and virtual networks play a preeminent role in product/service discovery, awareness and decision making,” states Stacie de Armas, VP, Strategic Initiatives & Consumer Engagement for Nielsen.

The research is part of Nielsen’s Diverse Intelligence Series. 

Nielsen uses the term Latinx as a “gender neutral, inclusive alternative to ‘Latino,’” the company says.

Next story loading loading..