FOOD INDUSTRY Hispanic Buyer Behavior What You in the U.S. Need to Know By Hernando Ramírez-Santos atino economic HISPANIC POWER CONTINUES TO GROW development in the “We conducted this survey of U.S. Hispanic consumers United States has to assess their attitudes and shopping behaviors versus accelerated in the non-Hispanic shoppers,” said Risch. last decade, growing 吀栀e specialist in shopper analytics noted that U.S. Hispanics Ltwo and a half times signi昀椀cantly outpace all other communities in the U.S. in faster than its non-Latino purchasing power and population growth. equivalent. A report by “Hispanic consumers are largely digital natives, and that Acosta Group analyzes carries over to their in-store shopping behaviors in terms Hispanic shopper of their comfort level and access to and use of digital tools,” behavior in the U.S., Risch noted. highlighting that by 2026, Some of the statistics in the report point out that by 2028, their purchasing power 22% of the U.S. population will be of Hispanic origin, and by will be close to three 2029, 27.4% of the Generation Z population will be Hispanic. trillion dollars. As the growth of the Hispanic population in the U.S. With these projections, advances, its purchasing power strengthens and will reach the supermarket industry three trillion dollars by 2026, Acosta Group projects. and food manufacturers have an excellent opportunity to “The U.S. Latino economy has grown two and a build loyalty to this population segment to ensure sustained half times faster than the rest of the population growth. Acosta Group “State of the Hispanic Shopper in the U.S.” over the last decade,” Kathy Risch. report provides a detailed look at Hispanic consumers’ attitudes, KEY FACTS perceptions, and behaviors related • 85% of Hispanics have at least one supermarket loyalty card. to grocery shopping. • 90% of shoppers have a grocery app that they access on their Abasto Media interviewed Kathy trips to the store. Risch, Acosta Group Senior Vice • 92% will use it on speci昀椀c trips to the grocery store. President of Shopper Insights & • Savvy Hispanic shoppers use apps primarily to search Thought Leadership, who shared for digital coupons, deals and product information (price, details from the report about the availability, o昀昀ers). Hispanic consumer, their trends, and • While 72% use digital tools to pre-plan grocery trips, 38% preferences. She also talked about consider retailer apps as their primary pre-trip shopping aid. strategies supermarkets and brands • While 1 in 3 Hispanics prefer to shop online, 54% still prefer to can follow to continue capturing this shop in physical stores (among those who shop both), and the booming sector of the U.S. economy. largest share of their monthly grocery budget is spent in-store. • 71% of Hispanics enjoy shopping at the grocery store because of the product and deal search. 4444 JJUULLYY//AAUUGGUUSST 2T 200224 4 AABBAASSTOTO..CCOOMM