Savings-minded Hispanic Consumer is Digitally, Socially Charged
Valassis shared some interesting stats late last year that reveal heightened digital and social engagement of the growing Hispanic population when it comes to savings.
Hispanics are 29 percent more likely than the general population to use a coupon from a social site and are twice as likely to share or trade coupons through social media websites.
These are findings from the Valassis Shopper Marketing Report based on a national consumer panel survey.
To a higher degree than the general population, they use both digital and print coupons, frequent shopper cards and mobile savings apps and are highly influenced to seek out an online coupon. Here are findings from this fast-growing segment of the population, that has grown 45 percent over the last 10 years and whose buying power has kept pace.
|The Hispanic Consumer
|Searches for an online coupon based on a recommendation
|Uses discounts from mobile or downloaded to loyalty card
|Uses coupons found on social media sites
|Share coupons via social media
|Source: Valassis Shopper Marketing Report, 2013
Harnessing the Purchasing Power of the Hispanic Population Online
Hispanics’ purchasing power is growing faster than any other consumer segment, making them a highly desirable target audience. However, there are distinct complexities to reaching the Hispanic market in the digital arena. Generational preferences across cultural, bi-cultural and general content sites make Hispanic consumers complex to reach due to their acculturation and device preferences across digital screens.
At a recent iMedia Connection mobile boot camp, Rajat Shroff, Brand.net Vice President of Product Management and Business Development, shared how marketers can maximize reach across generations and devices, delivering media to the highest opportunity area and eliminating those that are less relevant. Marketers, he said, must overlay geography with behavioral and other shopper marketing intelligence to deliver relevant messaging in the right media channel.
“We rely on both geospatial and demographic data in order to create highly targeted sub-ZIP Code level reach to activate 70 percent of Hispanic households compared to the 30 percent reach of a more traditional online approach. There is great potential among this growing population.”
Of the 14.4 million Hispanic households, Brand.net is able to reach approximately 10.1 million Hispanic households across generations and devices compared to traditional online, cookie-based targeting techniques that reach only about 4 million Hispanic households.
Valassis (NYSE: VCI) is a leader in intelligent media delivery, providing over 15,000 advertisers proven and innovative media solutions to influence consumers wherever they plan, shop, buy and share. By integrating online and offline data combined with powerful insights, Valassis precisely targets its clients’ most valuable shoppers, offering unparalleled reach and scale.
Valassis subsidiaries include Brand.net, a Valassis Digital Company, and NCH Marketing Services, Inc. RedPlum® is its consumer brand.