A recent research brief written by Jack Loechner in MediaPost blogs highlights the findings of recent research from Experian Simmons and Univision.
The research shows that Latinos are more positive about the future of the economy, are shopping more often than the general market, and are more open to advertising and brands.
Key findings from looking at data from a 65 week period since September of 2008:
" - 29% of Hispanics are more positive about the U.S. economy in the coming 12 months vs. 21% of non-Hispanics
- Hispanics average consumer confidence rating is 11% higher than non-Hispanics, and has remained constant since 2005, while non-Hispanics confidence rating has declined."
The study also found the following factors that contribute to why Hispanics are less affected by today's economic climate:
"- Only 45% of Hispanics have/use credit cards vs. 71% of non-Hispanics
- Hispanics are 44% more likely to use cash to pay bills than non-Hispanics (Index 156 to 91)
- Hispanics are almost 2x as likely to rent their home as non-Hispanics (44% vs 23%), and are less likely to be impacted by the high percent of mortgage foreclosures."
The report also highlights why Hispanics should be a key target for advertisers, citing the following:
"- Hispanics are consistently more frequent shoppers than non-Hispanics (34% vs 29%).
- Twice as many Hispanics are willing to pay for branded prescriptions as non-Hispanics (31% vs 15%)
Hispanics are 38% more likely to buy from an advertiser than non-Hispanics (Index 131 to 95)."
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Read the full research brief at Mediapost or view Univision's press release on this research.
