August 31, 2010 09:08 ET
Hispanics to Spend $125 Billion on Packaged Goods Products in 2010
ROCKVILLE, MD--(Marketwire - August 31, 2010) - MarketResearch.com has announced the addition of eMarketer's new report "CPG Marketers Target Hispanic Shoppers In-Store and Online" to their collection of Lifestyle & Economics market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2747450
Hispanics go online to socialize, research new products and find good deals -- more so than many other groups. In 2010, Hispanics will spend $125 billion on consumer packaged goods products, accounting for 11.8% of all CPG spending, according to Nielsen. These factors create a lucrative opportunity for CPG suppliers that want a closer connection with this dynamic demographic.
The internet is becoming ever more important in Hispanics' daily lives, via broadband and mobile. This year, 29.6 million Hispanics -- nearly 60% of the Hispanic population -- will go online at least once a month. By 2014, 39.2 million Hispanics will be online, representing 70%.
In response, a growing number of CPG marketers are mounting advertising and promotional campaigns that tie together online marketing, traditional media and grassroots promotions. Some have developed comprehensive Spanish-language websites that emphasize food, children, health and beauty, and other lifestyle topics. These sites allow marketers to connect more Hispanics to their brands and to one another.
Brand marketers should be engaging this online audience with both English- and Spanish-language content across ads, emails and websites. Growing online sales is not the goal, even though more and more Hispanic internet users are making purchases online.
The mobility of this digital population presents even more opportunities for marketers and retailers. Hispanic adults lead all other groups in wireless internet access, according to the Pew Internet & American Life Project. Branded mobile applications and promotions designed to reach these shoppers in-store could yield significant results.
Key questions this report answers:
- How does the internet influence Hispanics' in-store CPG purchases?
- Are Hispanics' attitudes toward making online purchases changing?
- Do social networks affect Hispanics' purchase decisions?
For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2747450