Acculturated Latin Women are Outspending the General Market [STUDY]
Latina Insights has released the first in a series of surveys revealing the shopping and retail consumption behaviors of the U.S. Latin female consumer.
The study, conducted among 1900 acculturated Latin women, focuses on topics ranging from consumer confidence levels, where and when she shopped over the holidays, how she’s using the internet and her mobile phone with retail shopping, and how much she is spending.
“For over 15 years, Latina Media Ventures has been the leading media company that speaks to the acculturated Latin woman. Our newest division, Latina Insights, was started in 2011 due to increased demand from our clients to help them improve the relevance and effectiveness of their messaging to this unique consumer,” said Lauren Michaels, President & Publisher of Latina Media Ventures.
“In this survey, we asked 1900 acculturated Latin women to give us feedback on everything from their spending patterns, to their brand choices, to their shopping preferences. And what we heard back, among other points, was that this acculturated Latin woman has strong consumer confidence, she is outspending the general market, she’s shopping online as well as in-store, and she is connected to her culture in both traditional and modern ways.”
Key Findings Include:
- 70% of respondents believe that they are financially better off or about the same vs. one year ago and 90% believe they will be financially better off or about the same one year from now
- Respondents spent an average of $1176 in total on holiday shopping, which is 57% higher than the national average of $751
- Department store retailers who ranked highest as the “go to” destination for holiday shopping were Macy’s (18%), Target (18%), Kohl’s (13%), Wal-Mart (12%), JC Penney (10%)
- Respondents are more than 2x as likely to purchase a product endorsed by a Latin brand or personality vs. a general market one
- More than 1 in 4 respondents have already made a retail purchase via their smartphone
The study shows that acculturated Hispanic women are using the internet and mobile devices to research products, comparison shop, and to buy. “For the acculturated Latin woman dressing well is just as important as finding a bargain and these are two factors on which we are not willing to compromise, so online shopping is just another avenue for us to ensure we get our money’s worth and research all the options available to help us look our best,” said Verky Arcos Baldonado, Fashion Editor for Latina Media Ventures.
“Although we come in all different shapes and sizes, there’s a certain unspoken commonality between us which is an air of confidence we possess both inside and out, so when a product speaks to our culture it ignites that confidence and reassures us that the particular product can relate to our wants and needs.”
Paul Bruno, Creative Director, Latina Media Ventures, stated, “Having worked with many Latin celebrities at Latina, it’s amazing to see how each woman loves and personally responds to the fashion and beauty industries, even those who are the faces of brands themselves.”
To buy the study, visit: www.latina.com/