A recent study by Valassis found that 92 percent of Hispanic consumers use coupons (vs. 90 percent of all consumers) and over 80 percent decide where to shop based on those print and digital offers. With the Selig Center for Economic Growth projecting that the U.S. Hispanic market will reach an annual buying power of $1.7 trillion in 2020, retailers and marketers have a ripe opportunity to drive sales by engaging this important demographic with coupons and offers.
Stemming from an in-depth survey of 1,000 consumers, 15 percent of whom were Hispanic, the research found a strong link between this particular demographic and mobile device coupon usage. Among the Hispanic consumers surveyed:
- 37 percent increased their use of mobile devices for securing coupons and deals since last year, significantly higher than 28 percent of all respondents;
- 81 percent decide where to shop based on paperless discounts delivered via mobile devices, significantly higher than 66 percent of all respondents;
- 67 percent search for mobile discounts while shopping in-store, compared to 46 percent of all respondents; and
- 67 percent switched brands due to mobile discounts while shopping in-store, compared to 50 percent of all respondents.
“With substantial buying power, Hispanic consumers are an influential group for brands and retailers to activate through a combination of print and digital couponing strategies,” said Curtis Tingle, Valassis chief marketing officer. “Hispanics are highly engaged when it comes to utilizing print and digital deals and discounts both prior to shopping and while in-store. Ultimately, this group is extremely savvy when it comes to saving.”
With a propensity for using print and digital savings, among the Hispanic consumers surveyed:
- 85 percent find print coupons in the free-standing insert or mail before shopping;
- 75 percent print coupons from the internet before heading to the store; and
- 63 percent make a purchase based on a mobile notification while in-store.