Hispanics make up 17% of the United States, according to the US Census Bureau’s most recent numbers, but the Hispanic population is making huge waves in growing the American economy. Nielsen reported that Hispanics spend roughly $1.2 trillion per year, and by 2018, that number is expected to rise to 1.8 trillion. And compared to every other demographic, Hispanics spend $10 per more per shopping trip. But despite spending more, Hispanic consumers–like many other consumers–are still on the hunt for a good bargain.
Understanding how the Hispanic population uses coupons, as well as their couponing behaviors, your business can design market deals and savings that are attractive and effective at luring in these important customers.
Five Couponing Behaviors of Hispanic Customers All Marketers Should Know
1. Strong Preference for Digital Coupons
The idea that coupons are outdated or unused is quieting now that Hispanics have embraced online coupons. In a typical month, 54% of Hispanic smartphone owners use their mobile browsers to visit a shopping site. Hispanics also use social media and mobile coupons more than the general market. The same study also found that Hispanic smartphone owners are twice as likely as non-Hispanic to say they’re interested in receiving mobile ads, with 58% more likely to buy products from their devices. Brand or store websites play an important role in getting coupons out to these customers as well. Time Magazine states that the average time spent on a website is 15 seconds or less, therefore website coupons should be prominently featured on the homepage or landing page, as well as easy to search for and print or download.
2. Social Media Discovery
In addition to utilizing brand websites, 70% of Hispanic consumers have used a coupon found on social media. This is a 16% difference from all other consumers, according to Target Latino. MediaPost notes that 72% of Hispanics use social media and are more likely to follow a brand’s social media page than others. With such a high number using social media platforms, having a social media strategy is a must. Findings from Pew Research Center indicate that Latinos prefer photo sharing site Instagram and Twitter over other sites, brands may want to make coupons visually appealing and their message short and catchy in order to garner more attention.
3. Viable Channel of QR Codes
Technology doesn’t just stop at the computer. Hispanics are 17% more likely to use a coupon QR code (Scarborough USA+ 2014 Release 2 Total: Aug 2013 – Sep 2014). Instead, Hispanic consumers are looking for easier ways to curate their coupons on the devices that they already use. Providing a QR code can provide a seamless consumer acquisition channel during their peak of interest.
4. Heavy Mobile Users
Speaking of mobile, 18% of Hispanics are more likely to receive coupons through text messages (Scarborough USA+ 2014 Release 2 Total: Aug 2013 – Sep 2014) and prefer mobile and frequent shopper offers (Valassis Shopper Marketing Report, 2014). In addition, having a responsive or mobile-friendly site is also particularly important given that 25% of Hispanics use their phones to download coupons according to Latino Times.
5. Print is Still Impactful
Even with such an emphasis on digital and mobile coupons, Hispanics continue to take out their scissors for savings. Latino shoppers utilize direct mail flyers and redeem direct mail offers.. Marketers should take note of this as it is easy to get caught up in the digital takeover. In general, people still want to have a physical coupon they can cut and stick to a fridge or hold in their hand as they shop the aisles. Having a well-designed, eye catching print ad mailed directly to the consumer may still be a key touchpoint when reaching out to a Hispanic audience.
Attracting Hispanic Customers With Coupons
When looking to target Hispanic customers, consideration must be taken into having a solid couponing strategy. 8 out of 10 Hispanic Millennials are classified as value seekers – which means that having a basic understanding of Hispanic coupon behavior could prove valuable in years to come. By embracing digital and mobile technologies combined with traditional mainstays and effectively drive transactions, brands can better connect with Hispanic consumers.