The holiday shopping season is fast upon us and no one is more engaged in the shopping experience than Hispanics.
They shop often. They shop with family. They shop with friends. In stores. Online. Even for their pets.
Hispanic Consumer Holiday Shopping Trends
In a recent nationwide study of 500 Hispanics (men and women), ThinkNow Research received feedback on their shopping plans for the coming holiday season. Some of the findings were fascinating…
- Nearly 3/4 of all Hispanic shoppers will make multiple shopping trips, rather than doing it all in one trip… and that’s pretty consistent across all demographic slices of the group.
- Interestingly, only 30% of Hispanics (men or women) prefer to shop alone. Most will shop with adult family members or friends.
- Overall, at least 80% of all Hispanic shoppers plan to do at least some of their shopping online this year. That number jumps to 88% for male shoppers and to 91% for those with a HHI greater than $40k. Further, of the online shoppers, 2/3 said that 25% to 75% of their total holiday shopping will be online… wow! Is your website ready for them?
- In addition, 72% of all Hispanics are Somewhat or Very likely to do some of their online shopping on Cyber Monday, a number that increases to 78% for Spanish-dominant speakers. Is your website available in both English and Spanish?
- A sense of community has always been vitally important to Hispanics, and particularly among the lower-acculturated groups … a fact that was validated by their sharing of shopping information …
- 64% of all Hispanics said they would text a friend about a “good deal” they find … a number that jumps to 81% among the lowest acculturated.
- 57% of all Hispanics said they would share good deals on social media… up to 70% for the low acculturated group. Maybe you should be tweeting out your good deals!
- Lay-away at retail stores is alive and well among Hispanics… with nearly half of all Hispanic shoppers planning on using it. Do you have a lay-away program at your store?
- The day after Thanksgiving – the crazy shopping day known as ‘Black Friday’ – is also a big day for Hispanics, with 71% of them saying they were Somewhat or Very Likely to hit the streets that day. Interestingly, that number increases to 87% for the lower acculturated groups.
- Have you heard the rumor that Black Friday might actually start this year on Thursday evening (Thanksgiving Day)? If it does, count on Hispanics to make it a success with 60% of them Somewhat or Very likely to take advantage of the early shopping.
- And perhaps our favorite shopping statistics from the study… 55% of all Hispanic shoppers plan on buying a holiday gift for their family pet! Feliz navidad, Rover!
Get Ready for Hispanic Consumers
It’s well documented that the Hispanic population of the U.S. has strong (and growing) buying power. And it’s clear that they plan on flaunting that power this coming holiday season. As a retailer, if you’re not prepared to welcome them with open arms – in ways that are meaningful to them – you’ll be missing out on what could be a very Merry Christmas for you.