With advertisers asking for guidance on how to best approach the Latino audience, a mall media provider, Eye, conducted a study to better understand the Hispanic Shopper’s habits and preferences and found them heavily influenced by mobile offers while shopping.
The Hispanic population is the fastest growing ethnic segment in America and it is expected to grow 167% from 2010 to 2050, compared to 42% for the total population. The rise of the Hispanic population has given retailers a new audience to understand and target.
The study revealed that 62 percent of Hispanic people accept content/offers on their phone in the mall, making them ideal candidates for mobile couponing and offers.
Latino shoppers visit the mall 4.3 times a month and spend $121 per visit, according to Eye research. They spend 2.5 hours in the mall and visit 2.3 stores each visit. They are avid shoppers who view the mall as their primary destination to hang out with friends and family.
The findings also show that Latino shoppers are educated shoppers who seek out information on sales and products before and during their mall visit. Once at the mall, this segment is influenced by path-to-purchase advertising and promotion deals (i.e. in-mall advertising).
“The Eye portfolio has 43 malls with a Hispanic population of 30% or more,” says Carrie Fitzmaurice-Daly, VP of Sales at Eye. “Not only are Latino shoppers open to finding out about products/services while at the mall (95%) but they are interested in mobile offers.”
Latino buying power is expected to grow 50 percent over five years to $1.5 trillion in 2015 (from $1 trillion in 2010), representing nearly 11% of the nation’s total buying power. Results of this study cover Hispanic purchase decisions, intent to buy and the influence of advertising.