IRI Examines New Product Purchasing Habits of U.S. Hispanic Shoppers
CHICAGO--(BUSINESS WIRE)--Jun 6, 2018--The Hispanic community is the fastest-growing ethnic group in the nation and spends more than $94.7 billion on CPG products annually. Because Hispanics are one of the most sought-after ethnic groups in the retail grocery market, IRI is diving deeper into last year’s most successful CPG launches to better understand . CPG marketers have a great opportunity to capture more shopping dollars from Hispanic consumers, especially if they understand some key nuances in their attitudes and preferences regarding new products, compared to those of the general consumer population.
“By 2020, Hispanics will account for over half of the population growth in the United States, and their spending power will also increase significantly,” said Susan Viamari, vice president of Thought Leadership for IRI. “Unfortunately, most marketers don’t have easy access to detailed information on what Hispanic shoppers are buying, including in key CPG categories. This significantly limits new growth opportunities for brands, so we examined what Hispanics are buying, and even why they are buying products, to help marketers engage with these very important consumers.”
While Hispanic buying power is concentrated in select markets, including New Mexico, Texas, California, Florida, Nevada, Colorado, New Jersey, New York and Illinois, their interest in new products is spread across retail departments. Among those consumers who consider themselves avid new product adopters, there is a particular interest in the following departments (English-speaking Hispanics, bilingual Hispanics, Spanish-speaking Hispanics and non-Hispanics):
Top-Selling Food and Beverage Launches
Based on the most successful CPG launches in the 2017 New Product Pacesetters report, IRI uncovered the top-selling food and beverage products for Hispanic consumers:
Source: IRI Consumer and Shopper Insights Advantage ™ /Hispanic Specialty Panel
The mix of healthy and indulgent products found in the top-10 ranking truly reflects Hispanics’ attitudes toward eating. For instance, 36 percent of Hispanics say they eat healthy half of the time and eat whatever they want the other half. An additional 36 percent of Hispanic consumers say they eat healthy 80 percent of the time and allow for indulgences 20 percent of the time. So, moderation is the key for most Hispanics.
The top healthy eating considerations vary significantly across Hispanic sectors (English-speaking Hispanics, bilingual Hispanics, Spanish-speaking Hispanics and non-Hispanics):
Top-Selling Non-Food Launches
Forty percent of Pacesetter brands that hit the mark with Hispanics tout “more natural,” “organic,” “herbal,” or “holistic” attributes, which also helped shape the top-10 non-food ranking:
Source: IRI Consumer and Shopper Insights Advantage™/Hispanic Specialty Panel
Hispanics are looking for new non-food products that provide new health benefits and faster results. Key considerations for new products include (English-speaking Hispanics, bilingual Hispanics, Spanish-speaking Hispanics and non-Hispanics):
“Hispanics are a highly diverse group, based on factors such as age, income, media preferences and language preference — English-preferred, bilingual or Spanish-preferred,” said Staci Covkin, principal of Consumer and Shopper Marketing for IRI. “Attracting Hispanics requires an understanding of these language preferences, along with their digital and social preferences, to quickly see a huge opportunity for CPG across food, beauty, home and health care brands. Aligning a new product launch with the needs of Hispanic shoppers is rapidly becoming a critical success factor for sustained CPG and retail growth, so improved insights and activation of these shoppers can result in significant sales and market share uplift.”
For the complete analysis on Hispanics and New Product Trends, . For more information, contact IRI at
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IRI fundamentally believes that delivering differentiated growth for clients requires deep, highly integrated partnering with a variety of best-of-breed companies. As such, IRI works closely with a broad range of industry leaders to create innovative joint solutions, services and access to capabilities that help its clients more effectively compete in their various markets and exceed their growth objectives. IRI is committed to its partnership philosophy and continues to actively enhance its ecosystem of partners through alliances, joint ventures, acquisitions and affiliations. The IRI Partner Ecosystem includes such companies as Adobe, The Boston Consulting Group, comScore, Experian, GfK, Gigwalk, GuestMetrics, Ipsos, Kantar Shopcom, MasterCard Advisors, MaxPoint, Millward Brown Digital, Mu Sigma, Oracle, Place IQ, Research Now, Simulmedia, SPINS, Survey Sampling International, Univision and others.
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers and media companies to grow their businesses. With the largest repository of purchase, media, social, causal and loyalty data, all integrated into an on-demand, cloud-based technology platform, IRI helps to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers and deliver market-leading growth. A confluence of major external events — a revolution in consumer buying, big data coming into its own, advanced analytics and automated consumer activation — is leading to a seismic shift in drivers of success in all industries. Ensure your business can leverage data at www.IRIworldwide.com.
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KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: CONVENIENCE STORE OTHER CONSUMER DISCOUNT/VARIETY SUPPLY CHAIN MANAGEMENT HEALTH FITNESS & NUTRITION PROFESSIONAL SERVICES CONSULTING RETAIL COMMUNICATIONS COSMETICS MARKETING FOOD/BEVERAGE OTHER COMMUNICATIONS SPECIALTY SUPERMARKET OTHER RETAIL CONSUMER
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PUB: 06/06/2018 10:00 AM/DISC: 06/06/2018 10:01 AM