Running a Grocery Store? Learn About The Purchasing Power Of the Hispanic Community in the US
There’s been an exponential increase in the purchasing power of the Hispanic community in the United States in the last few years. But what’s the reason behind it? And why should you—as a grocery store owner—care?
Keep on reading to learn why the Hispanic community is one of the most sought-after ethnic consumer groups:
Population plays a large role in the purchasing power of a certain group or community. The Hispanic community is the fastest-growing ethnic group in the United States. It is projected that the Hispanic population will pass the 77 million mark by 2030. Moreover, the purchasing power of the Hispanic community is expected to pass the two trillion dollar mark. This shows that they are becoming a major part of the nation’s economy.
Grocery shopping with family
Unlike most regular US grocery shoppers who shop alone, Hispanic shoppers like to shop with their spouse, children, and even friends. Moreover, a survey shows that 60% of Hispanic shopper love to bring their children to grocery shopping. That’s good news for grocery store owners, as Hispanic people who do grocery with their kids tend to spend more. In fact, they can add up to an additional hundred bucks to the total bill.
Frequent home cooking
Hispanic shoppers make more frequent trips to the grocery stored compared to the average US shopper. People from the Hispanic community are family-oriented; they are likely to stay together in a big family.
The reason is that they love shopping with their loved ones and cooking meals at home, which means they purchase more goods than other consumers.
Willingness to explore new stuff
Hispanic shoppers cook frequently, hence, they love to explore new ingredients so they can prepare an assortment of dishes. Aside from planned meals, they are also likely to try out new ideas when cooking meals at home. In fact, they love to go outside their comfort zone and try a new blend of flavors to add variety.
Comfortable with digital shopping
Hispanic people love to visit grocery stores, but they don’t shy away from shopping for groceries online. They love to use online tools for grocery shopping and actually read flyers published online by grocery stores. This means that grocery stores must ensure that they’re engaging with Hispanic shoppers to remain competitive and boost revenues.
Do you want to design a successful multicultural marketing campaign to reach out to your Hispanic shoppers? Get in touch with today. We are an experienced ethnic marketing agency that provides comprehensive multicultural market solutions to our clients. To learn more, give us a call at (917)7976189 or drop an email at email@example.com.
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