At an average age of 31, Hispanic women are entering their prime earning years and have made great educational and entrepreneurial gains, which have contributed to their economic power, according to findings in the Nielsen Scarborough Hispanic DST Multi Market 2016 report.
These women have increasingly become the breadwinners and purchase decision makers in their households, and retailers and marketers have an opportunity for growth if they are able to understand and tap into these consumers’ spending habits, according to the report.
When Hispanic women make purchases, they are striking a balance between buying the brands they trust and making a sound financial choice. Sixty-eight percent of them agree that if a product is made by a company they trust, they will buy it, even if it is slightly more expensive.
However, 72% agree that price is more important than quality, and 67% agree that they will stock up if a food item is on sale. Her cost-conscious attitude is further reinforced by where she shops. Hispanic women are 21% more likely to shop at warehouse clubs and spend 11% more at these stores than non-Hispanic women. Their search for low prices could be attributed in part to their larger household sizes and the fact that children are more likely to be present in the home, according to Nielsen Scarborough.
Across age groups, Hispanic women spend more on bottled water and refrigerated and shelf-stable juice drinks than non-Hispanic women. They are more likely to have a variety of nonalcohol beverages on a weekly basis, including bottled teas, energy drinks and sports drinks.
Click through to see the top 10 beverages consumed over a seven-day period by U.S.-born Hispanic women 18 years and older.