By: Steve Markenson, Vice President, Research & Insights, FMI
Food is heritage, with its history passed down from generation to generation, shared with those we love and revered in our holidays. Coming out of Hispanic Heritage Month, the connection between the Latin community and food, tells a rich story of cultural identity, deepens store engagement and highlights savvy techniques for maximizing value.
Making up 19% of the current U.S. population and projected to grow to 28% or 111 million people, the Hispanic community is a minority with a major presence. Holding $2.4 trillion in buying power, this presence should not be undervalued and cannot be ignored. So, what is most important to this unique subset of shoppers?
Primary Purchase Drivers for the Hispanic Community
- Cultural Identity and Heritage – A community rich with culture, Hispanic shoppers seek brands that authentically engage with their traditions and values. Compared to shoppers overall, 40% more of Hispanic shoppers want to engage with businesses that share their values.
- Value and Quality – Prioritizing value, more importance placed on the convenience of a one-stop shop as a way to achieve value and a strategy to minimize number of stores shopped. Fifty-one percent of Hispanic consumers shop at one store to get the best overall value (versus 38% for shoppers overall).
- Brand Trust and Loyalty – Hispanic shoppers place more trust/responsibility in all sources for ensuring food bought at grocery store is safe and nutritious. Notably, more trust is placed in farmers (30% vs. 24% overall), consumer groups/organizations (26% vs. 17%) and government institutions/agencies other than USDA or FDA (37% vs. 25%).
- Digital Engagement and Technology – Hispanic shoppers engage in more preparation for grocery shopping, from list making to reviewing a store's app/website before or during grocery shopping and higher smartphone usage. More digitally active than consumers overall, 49% of Hispanic shoppers feel the quality of a store's app/website is important in selecting a primary store.
The Hispanic population is young and incredibly diverse. They are rooted in cultural identity and their heritage is central to their values. Highly engaged and digitally enabled, they value experience and information at the point of consumption. Success in catering to this community in the food retail space will come from actively engaging in and expanding your store's cultural values.
To dive deeper into the Hispanic community's shopping habits, check out FMI's Grocery Shopper Snapshot: Hispanic Edition and NIQ's Diverse Voices: Hispanic Consumer Report 2024. Don't forget to watch the recording of "The Hispanic Shopper: A Look Inside the Trends" a digital seminar hosted by FMI and NIQ.
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