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NATIONAL REPORT — In a new installment of his video series with Convenience Store News parent company, EnsembleIQ, Phil Lempert discusses IRI’s latest report on Hispanic shoppers.
The report states that “Hispennials” are where the money and opportunity is. Almost 60 percent of the 55 million Hispanics in the United States are millennials, or younger. They account for 80 percent of the segment’s growth, shop online more than non-Hispanics, and are extremely open to trying new products.
IRI’s research also shows that beyond seeking sales and deals, Hispanics gather more information and research online prior to shopping. This is especially true among Hispennials, Lempert cited, where this behavior averages 15-20 points higher, especially when it comes to gathering information from social media or a blog when buying consumer packaged goods.
“Hispanics move between digital interfaces and often complete their online transactions in the store or compare prices in the store, so it’s very important to make the entire buying process seamless — both online and offline,” Lempert said, quoting Staci Covkin, principal of consumer and shopper marketing for IRI.
As CSNews Online previously reported, Lempert and EnsembleIQ forged an exclusive strategic alliance that allows Lempert to provide content and programming to multiple CPG retail media brands within the EnsembleIQ portfolio, including Convenience Store News and Progressive Grocer.
Lempert is founder of The Lempert Report, a food trends publication, and SupermarketGuru.com, a leading online resource for food safety, products, trends and shopping tips that attracts more than nine million visitors annually.
Click above to watch the video.