Tips for Capturing the Rapidly-Growing Hispanic Market
According to projections made by the non-partisan Pew Research Center, Hispanics will comprise approximately 29% of the U.S. population by 2050.
The question is, how will your organization capture its share of this rapidly-growing market?
Over the past few years, research from a number of different organizations, including the Unilever Corporation a TNS study entitled the Hispanic Shopper 360, has critically examined Hispanic shopping behavior. While the exact statistics vary from study to study, the research as a whole has identified a number of differences in the way Hispanic individuals shop.
Here are a few recommendations from this research to help food and beverage companies reach this market segment:
- Put your products where they shop. Hispanic shoppers frequent a wider variety of channels than the total population, and are much less likely than the general market to shop at supercenters. Convenience stores are especially popular with Hispanic males.
- Use Spanish in your labelling and advertising. Research has shown that the majority of advertising/labeling Hispanic shoppers notice is in Spanish or bilingual. In addition, Hispanics show increased brand loyalty to manufacturers who use Spanish in their advertising.
- Key-in on their concern for health and wellness. Heart disease, children’s health and diabetes rank among Hispanic’s top concerns. They look for food and beverage products with the phrases such as “100% ,” “fresh,” “real” and “healthy.”
- Think out of the box. Hispanics are much more leisurely than the average shopper. They are considerably more aware of and open to in-store tactics to drive purchases. Consider novel ways you could use packaging and/or in-store displays to attract the Hispanic shopper’s attention as he browses. Work with retail partners to brainstorm branding opportunities that encourage browsing and spending more time at retail.
From Brand Managers to Strategic Marketing Consultants, the Kinsa Group can recruit and assess the food & beverage industry professionals your company needs to capitalize on market changes. Visit our website to learn more.