What should be top of mind for marketers when it comes to the Hispanic consumer? Empower’s Consumer Insights Team participated in a webinar from BIGResearch about the Hispanic consumer outlook for 2010.

Here are some key takeaways:

• Hispanics are more optimistic about their spending, but less optimistic about jobs than the general market.
• Hispanics are less conservative with financial issues than they were in 2009, suggesting that the lessons learned from the recession may be short-lived when/if the economy makes a full recovery.
• Hispanics are more likely than general market consumers to be in the market for big ticket purchases (TVs, computers, travel) in the next 6 months.
• BIGResearch found that Hispanic women plan on spending more in the next 90 days than general market women in nearly every category (online, health/beauty, electronics, etc.). However, the percentage of Hispanic women planning to spend more is still very small (less than 20% for online shopping which was the top category).
• The greatest difference in spending per month between Hispanics and the general market is the amount Hispanics spend on children’s clothing. On average, Hispanics spend $21 more a month, most likely because they have larger households. These bigger families also tend to be younger.

Communicating Value Through Digital is Key
As the economy begins to move forward, there are some interesting implications to consider for Hispanic consumers, particularly in digital communications. Value is of great importance to Hispanics. According to BIGResearch, Hispanics do more comparative shopping online than the general market and do more online shopping, overall. Value-focused digital communications are a good way to connect with these consumers.

 By Natalie Dalton, Empower MediaMarketing Director