Hispanics have cut back their spending since the last recession, but
are still treating themselves to a certain extent. They are also very reluctant
to use any kind of debt to pay for things—preferring to pay cash instead.
To
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Table of Content
Scope and Themes
What you need to know
Definition
Data sources
Consumer survey data
Advertising creative
Abbreviations and terms
Abbreviations
Terms
Executive Summary
Hispanic purchasing power growth
rate significantly higher than others
Figure 1: Purchasing power, by
race/Hispanic origin, 1990-2017
Hispanics are more cautious
post-recession, sacrifices and trade-offs are made
Figure 2: Average annual
expenditures by Hispanic consumer units, by category, 2003-11, in current
dollars
Household expenditures are expected
to remain the same
Figure 3: Spending on household
essentials in the next 30 days, by race/Hispanic origin, October 2011-November
2012
Clothing expenditures likely to
decline with increases in transportation costs
Figure 4: Changes in household
spending year over year, January 2013
Men plan to have more fun while
women focus on necessities
Figure 5: Changes in household
spending year over year—spending more, by gender and household income, January
2013
A small percentage report they are
struggling or in trouble financially
Figure 6: Changes in financial
situation year over year, by languages spoken in home, January 2013
What we think
Issues in the Market
Is a rise in costs negatively
impacting the financial health of Hispanic consumers, and how does this compare
to 2010?
Figure 7: Average annual
expenditures, Hispanic households, by expenditure category, 2010-11
Are Hispanic consumers improving in
their ability to build their savings accounts compared to 2010? Does this
present an opportunity for financial institutions to promote ways to save to
Hispanics?
Figure 8: Changes in spending and
savings habits of the Hispanic household, January 2010 and January 2013
Figure 9: Hispanics’ attitudes
toward personal finances, October 2011-November 2012
Are Hispanics spending more or less
on big-ticket items compared to 2010, and how should retailers react/respond to
this trend?
Figure 10: Likelihood of making a
big-ticket or medium-ticket purchase in the next 30 days, by race/Hispanic
origin, October 2011-November 2012
Inspire Insights
Trend: Prepare for the Worst
Figure 11: Financial situation
versus year prior, by race/Hispanic origin, October 2011-November 2012
Trend: Extend My Brand
Futures Trend: Generation Next
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