Hispanic Men Present Opportunities For Marketers, Reports Mintel
CHICAGO, Feb. 13, 2013 /PRNewswire/ -- While the Hispanic population is growing at a fast pace in the US - and with them their purchasing power - it seems in the last few years much of the focus has been on Latinas, neglecting an equally important Hispanic shopper...Hispanic men. Indeed, according to latest research from Mintel, some 42% of Hispanic men and more than half (55%) of Hispanic dads are the top decision maker on the purchases made in their household.
Moreover, influence in the household also varies with age. Around half (54%) of Hispanic men aged 45-64 have the most influence on their household purchasing decisions, as do half (50%) of Hispanic men aged 35-44, versus 44% of those aged 25-34.
Leylha Ahuile, senior multicultural analyst at Mintel, said:"Everywhere we look marketers are directing their focus on Latinas, but brands are forgetting to talk to Hispanic men. Ignoring Hispanic men is an unwise mistake as this growing group, like most men in the US, has taken on a greater role with household chores, caring for children and shopping for the household. Marketing efforts that discuss how Hispanic men, and Hispanic dads in particular, can obtain top value in their household purchases could set a grocery retailer apart from its competitors, leading to greater loyalty among Hispanic men who are buying food for the household. By failing to reach out to Hispanic men, brands and retailers will miss out on the chance to establish themselves as the first choice among a segment of shoppers poised to gain great influence in the coming years." When it comes to where to shop, three in four (75%) Hispanic men shop for food items at a traditional grocery store, making it the leading destination among Hispanic men for food shopping for their household. However, Hispanic fathers are more likely to purchase groceries at mass merchandisers, with 71% of them doing so, compared to 63% of Hispanic men without children.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts