Sunday, May 5, 2013

Welcome the Family of Hispanic Shoppers

The current issue of “The Checkout” from The Integer Group and M/A/R/C Research characterizes the shopping behavior of Hispanic consumers in the U.S. Adding in results from earlier research on this growing market, here are my suggestions to you for retailing profitability:
  • Distinguish between those shoppers who are well-integrated into American culture and those who are not. The percentage who are highly acculturated differs by the region of the country. But in general, Hispanic-Americans are more likely than Asian-Americans, for example, to live in primarily Hispanic-American communities. With your shoppers who are well-integrated, your adjustments should be a change in accent rather than dramatic alterations in what’s been working for you up to now. 
  • Accommodate the influence of extended family. Not only parents, but also grandparents, cousins, and friends who feel to the shopper like family. About 55% of Hispanic consumers say they love shopping with others, compared to 38% for U.S. consumers overall. Hispanic men are notably more likely than others, including Hispanic women, to be influenced by family recommendations for stores and products. Design your retail business around family in ways ranging from store merchandising and layout to in-store entertainment. Regularly remind your customers how grateful you’d be for them recommending you to family members. 
  • Less well-acculturated Hispanic shoppers are more likely than others to enjoy wandering through store aisles, feeling or trying out products, looking for recently introduced items and surprise specials. Plan for this in your store merchandising. As for ecommerce, Hispanic shoppers like interactive displays which, for instance, let them rotate the image of a product to simulate holding it. In the U.S., about 35% of Hispanics are under age 18, compared to a 20% rate for non-Hispanics. Emphasize the exploration associated with youth. 
  • Hispanic shoppers like low prices, but they are more attracted by popular brands. This can be a private-label brand. Although Hispanic shoppers are more likely than non-Hispanics to start by considering the national brand alternative, almost 70% of them go on to compare with the private label alternative when it’s on the shelf. The easily recognized brand assures the Hispanic shoppers of quality when they’re insecure about their choices. It also serves as a mark of status for public display items, such as school and church clothes for their children. About 53% of Hispanics say finding high quality items is a most important selection criterion. Among consumers overall, it’s 40%. 
Click below for more: 
Accent Values of Your Hispanic Target Markets 
Discuss Family Advantages with Hispanic Women 
Speak Languages of Mexican-American Consumers 
Show Commitment to the Underserved

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