LOS ANGELES: Hispanic consumers, especially women, are buying more, spending more, and showing more brand loyalty than their general-market counterparts, making them a key demographic for marketers, according to a recent study.
"This is really a dream consumer, especially when it comes to beauty and health products," said Jackie Hern?ndez-Fallous, publisher of People en Espanol, which commissioned the study for the fourth year in a row. She added that Hispanic women are "great users and consumers of beauty products and love to be beautiful at all costs."
The study found that Hispanics are spending almost twice as much as the general market on clothing and accessories, and 56% report that they love to shop, as opposed to 39% in the general market. When it comes to where they shop, Wal-Mart, JCPenney, and Sears ranked as their three favorite stores.
The survey, called the Hispanic Opinion Tracker (HOT), is one of the largest and most comprehensive studies on this demographic, polling 6,000 Hispanic consumers, as well as 2,000 general-market consumers.
The survey also found that 65% of all Hispanics say that Spanish language is more important to them than it was just five years ago, and 75% say they feel loyalty to companies that advertise to them in Spanish.
But Hern?ndez-Fallous said that loyalty is about more than just language.
"It's about the culture and cultural relevancy," she said. "More and more [Hispanics] are going back to their roots."
The study also found that Hispanics are increasingly health conscious and might do a better job of educating themselves on such issues than the general market. For example, 73% of Hispanics always read the fine print in a drug ad, versus 44% of the general market, and 44% of Hispanics always use ingredients that are low in fat and cholesterol, compared to 20% of the general market.