Over the past year I have done research for our local Hispanic Newspaper and now I have added them as an advertising option. Contact me directly at Scott (at) ScLoHo.net for details.
Here's why:
Hey! Over Here! We're Buying!
Good news for retailers! There is one consumer segment that apparently remains ready and willing to buy: Hispanic shoppers. "According to a new study conducted by Experian Simmons for Univision Communications, Hispanics are less affected by the recession, tend to be more positive about it, [and] shop more often," says Katy Bachman in a recent Mediaweek article. Here are some of the reasons Hispanics remain vital consumers, based on the study's results:
- More Hispanics (34 percent) than non-Hispanics (25 percent) expect to be better off financially in the next 12 months
- Only 45 percent of Hispanics have credit cards (versus 71 percent of non-Hispanics)
- Fewer Hispanic consumers have loans (34 percent, versus 53 percent for non-Hispanics), and they are less burdened with potential debt
In other words, these are savvy people who are able to shop! So, how might local retailers bring them in-store? Here are a couple of tactics to consider:
Target them with discounts. "Hispanics are more likely to look out for special offers. In general, they use cash and are more careful with money," says Experian's Tom Morrison.
The Po!nt: Draw those spenders in. Consider targeting the smart Hispanic shoppers in your community with a TV ad that offers cool discounts.
Source: Mediaweek. Read the full article here.
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