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Holiday Shopping Sales: Latinos, Multicultural Shoppers Driving Those Sales

Black Friday Holiday Shopping
Nielsen has conducted its annual holiday sales survey and forecast, and the results are in.
In addition to learning the expectations for holiday spending and growth, the global information site also shared that multicultural consumers will be standing behind the shopping carts this holiday season, driving holiday sales.
The 55 million Hispanics in the U.S. and millions of other multicultural shoppers are expected to impact larger seasonal trends this year, propelling holiday shopping growth over the month of December. Forty-three percent of multicultural households will account for extra spending this holiday season despite only 10 percent of the population indicating that they wanted to spend more this year than they did last year.

Latino/Hispanic shoppers make up 13 percent of the 43 percent of the multicultural households expected to spend additional money this season (compared to 17 percent African American and 13 percent Asian American). The anticipated spending is significant, as a third of all multicultural consumers expect to spend an average of $250-$500 and over 20 percent expect to spend an average of $500-$1,000 this season, on gifts alone. Those numbers are similar among Hispanics: 30 percent expect to spend $250-$500 and 22 percent expect to spend $500-$1,000.

Multi-ethnic consumers not only expect to spend more this holiday season, but these avid shoppers expect to wait longer to spend money — meaning, two weeks before Christmas, marketers and brands still have time to reach these shoppers.

So, what will Hispanics spend more money on this buying season? It seems that Hispanics’ plans for additional spending this holiday season matches the general market, except that Hispanics plan to spend slightly more.

Gift cards (15 percent for Hispanics vs 12 percent for general market), electronics (13 percent vs 10 percent) and toys (13 percent vs 10 percent) top the list for …..

Read more:
To read more: multicultural-shoppers-are-driving-shopping-carts-and-holiday-sales-this-christmas-season

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