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Hispanic Buying Power on the Rise and Open to Mobile Offers

Aug 14 2012 12:00AM

Marketwire

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NEW YORK, NY -- (Marketwire) -- 08/14/12 -- 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(1). The rise of the Hispanic population has given retailers a new audience to understand and target.

With advertisers asking for guidance on how to best approach this audience, leading mall media provider, Eye, conducted a study to better understand the Hispanic Shopper's habits and preferences.

Compellingly, the study revealed that 62% of Hispanic people accept content/offers on their phone in the mall, making them ideal candidates for mobile couponing and offers.

Latino buying power is immense. Hispanic shoppers visit the mall 4.3 times a month and spend $121 per visit. 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 (68%).

The Hispanic Shopper is an educated Shopper who seeks 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.

"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 Hispanic shoppers open to finding out about products/services while at the mall (95%) but they are interested in mobile offers, making our new Amplify mobile platform an excellent way to engage with this group."

Hispanic 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(2). Results of this study cover Hispanic purchase decisions, intent to buy and the influence of advertising. For more information from this study, please contact Andea Campbell at andeacampbell@eyecorp.com.

Iconic Hispanic mall properties represented by Eye include: Queens Center in Elmhurst, NY, Santa Monica Place in Santa Monica, CA, Dadeland Mall in Miami, FL, Valley View Center in Dallas, TX and Stonewood Center in Downey, CA.

Hispanic Shoppers are classified as those of Hispanic origin who have visited at least one Eye mall in the past month. This study was conducted with Toluna Inc.

At Eye, we understand how mall media impacts shoppers better than anyone else. With over 300 malls covering over half of the top centers in the top DMA's, we offer both hyper-local targeting and national coverage in some of America's most iconic retail environments. We are number one in the US for mall media solutions. Our diverse offering of backlit posters, high definition digital screens, mobile connectivity and banners means we can create a customized and integrated solution for every marketing challenge. www.eyecorp.com

Eye Corp Pty Ltd is a wholly owned subsidiary of Ten Network Holdings Limited, a publicly listed company which also operates Network Ten, the broadcaster of Australian free-to-air channels ONE, TEN and ELEVEN.

Sources: (1) Nielsen State of the Hispanic Consumer - Quarter 2, 2012; (2) Selig Center



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Andea Campbell
Marketing and Insights Executive
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Source: Marketwire


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