Hispanic Buying Habits

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Hispanic Buying Habits

Three Generations of Hispanics

Millinial: 18 - 29

Most likely to revolve around wireless technology - into technology
Tend to use convenient stores and fast food restaurants more than any other Hispanic segment
Most likely to use debit card and check cashing services
Most Likely to have bought a used car

Gen-Xers: 30 - 44

Peak of income producing years
Afford bigger and more expensive electronics - only a step or two behind Millinials
Large segment of the Hispanic population
Tend to use credit cards more often
Tend to own their own home
Pretty sound financially
They make online purchase

Baby Boomers: 45 - 64

Most likely to preserve their health and wealth
Invest in market mutual funds
Buy life and health insurance
Enjoy using department store cards
Rate very high in planning to buy:

Additional computers
Dry cleaners
Traveling internationally
Driving new cars

Information you may not know about the Hispanic population

There are 50-million Hispanic consumers in the United States. They have one trillion dollars in buying power which ads up to the 12th largest global economy in the world.

Technology:

Into high technology
They out text other ethnic groups in the U.S.

Furniture Stores:

40% more likely to buy furniture at any time than non-Hispanic consumers

Travel:

26% more likely to travel internationally than non-Hispanic consumers

Automotive:

Brands they tend to prefer most was Toyota 19.5%, Honda 13.7%, Nissan 11.9%, Chevrolet 9.4% and Ford 9.3%
While new car sales climbed up 14% from 2011 to 2012 Hispanic new cars sales were up 23%
Hispanics are buying more luxury cars: The industry is 16% while Hispanic purchases are 25%

Environment: