Hispanic Brand Loyalty
Published in CSP Daily News
Hispanics are expected to number 66 million and make up 19% of the population by the year 2020, according to the U.S. Census and other source. On average, Hispanics are younger and have larger households compared to non-Hispanics.
In part to see how those elements might affect retail trends, ThinkNow Research, Burbank, Calif., surveyed U.S. Hispanics and non-Hispanics via its ThinkNow Research National Hispanic Omnibus Survey with field dates of Jan. 13 to 24, 2014, and Feb. 10 to 21, 2014.
The survey found Hispanics express more optimism about the U.S. economy compared to non-Hispanics, with 37% of those Hispanics surveyed saying they expect the economy in 2014 to be better than last year, while only 27% of non-Hispanics said the same.
On questions of brand loyalty, the survey found if Hispanics' usual brand is not available where they normally shop, they are more likely to go to a different store to find it or to come back a different day, particularly for food/beverage products.
Brand loyalty is also clearly strongest among the least-acculturated segment of Hispanics. The less-acculturated are particularly prone to leave your store if the item they’re looking for isn’t there, according to the survey.
ThinkNow Research discussed the survey results during CSP's Driving Impulse Sales meeting in April.
Source: ThinkNow Research Omnibus Study: March 2014