E-commerce trends continue to be on the rise and the purchasing power of the Hispanic consumer is here to stay. Known as the youngest ethnic group in the country, Latinos are very tech-savvy and understand the digital landscape, whether it’s social media platforms or e-commerce websites, this group’s spending force is one to be reckoned with. Study shows that Hispanics have accounted for more than half of total U.S. population growth since 2020. Although population growth has slowed down from previous years, Hispanics continue to surpass other groups. On the digital front, Hispanics’ spending power has reached $2.0 trillion. Retailers should go beyond the demographic and into Hispanics shopping behavior and motives, Lambert consumer brands team breaks down the Hispanic shopper and how brands can cater to this key audience:
The Online Hispanic Shopper
What are they buying and who’s doing the shopping? A large percentage of Hispanics are millennials and account for much of the segment growth. They spend more time online, do more research and make more buying decisions than non-Hispanics. The group continues to show more interest in the digital era and their purchasing options – with most of their spending focused on specific categories such as clothing, personal care products, household products, cosmetics, and electronics.
Hispanic Brand Loyalty
This is the audience that retailers and manufactures definitely want to target. Hispanics are known for their brand loyalty. Word-of-mouth is one of their biggest drivers when making purchasing decisions. Brand loyalty ties back to their culture and heritage and if they trust the brand or product then they will continue to buy from them. Hispanics value a genuine connection, so brands need to build a long-lasting commitment that will help gain and retain their loyalty.
Our friends at 9thWonder know this first-hand and understand how the minority audience will soon become the majority. Marketers need to advocate for the often-missed consumers that are expanding their purchasing power. So, just remember that culturally relevant marketing can help you build a relationship with one of the most influential online shoppers.
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