Upbeat Hispanic Consumers Played an Important Role in the Economy This Past Holiday Season
Upbeat Hispanic Consumers Played an Important Role in the Economy This Past Holiday Season
When it came to the holiday shopping season, Hispanics were upbeat, positive consumers. Even in a time when over fifty percent of Americans would tell you the nation was still in a recession, less than half of Hispanics felt that way but they chose to not let it damper their holiday spending or spirit.
While seven in ten Hispanics have cut spending costs by postponing big purchases like cars or houses and have also cut back spending on eating out, they still celebrated the gift giving season. Hispanics have the buying power and do have money to spend, contributing to nearly 50% of spending growth in the past year.
Hispanics were hit hard by the recession and worried about educational expenses as well as their economic and professional status. They worried about pay reductions or job losses as well as how to help their extended families. These stressors had a negative effect on their physical, intellectual, emotional and mental health as well. However, according to Fannie Mae, fifty-eight percent of Hispanics expect their financial situation to get better over the next year and are optimistic about their current status. In fact, Hispanic people are not only optimistic about their own future but the future of their children. Research shows a whopping two-thirds (67%) of Latinos expect their personal financial situation to improve in the coming year, compared with 56% of the general population.
Hispanics are really no different than most when it comes to a love of shopping as well as a fear of not having enough money to buy the things they want. Hispanics tend to be savvy shoppers, using the Internet to search for good deals, including the use of smartphones, as well as skillful comparison shoppers. Hispanics enjoy advertisements and are more influenced by the ads they see when purchasing items for children.
With online spending projected to rise 16% this past holiday season and free online shipping being a big player, it’s no wonder why survey sites that offer rewards redeemable online were such a big hit. Online Hispanic communities like Tu Opinión Latina (www.tuopinionlatina.com) that offer PayPal credits, as well as unique and varied rewards (such as iPads or a choice of cash) to members that voice their opinions on favorite products and services, help to not only shape the minds of retailers but furthers the spending power of Hispanic consumers.
Upbeat Hispanic consumers played an important role in the economy this holiday season. We can only hope their economic optimism and cheery outlook for the future spills over to the rest of the nation.
Tu Opinión Latina is a Hispanic survey community where registered members can earn PayPal® credits and other prizes. All surveys are conducted for major companies that are interested in your opinions.
Survey topics focus on a variety of subjects such as sports, entertainment, shopping, new products or financial services just to name a few.
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