Kathy Whitlock from Univision Insights: Hispanics spent US$330 billion at retail in 2014

A recent UCI and NPD (National Panel Study) revealed that Hispanics represent a great opportunity for retailers during the Holidays. Kathy Whitlock, Marketing Strategy and Insights VP at Univision, described the strategies to capitalize on this opportunity. Her first advice is to realize the need for insights based on a truly representative Hispanic panel, hence this research.”Hispanics spent US$330 billion at retail in 2014. A number of that size is a wake-up call to any retailer who has yet to weigh the impact Hispanics can have on their business” argued Whitlock.The holiday season poses a great sales potential among the Hispanic market. Hispanics in the US have more occasions to celebrate and buy gifts (Las Posadas, Nochebuena and 3 Kings Day). Spending among Hispanics during this season grew 13%, twice as much as non-Hispanics.This demographic group is super connected and super digital. “Categories like beauty, consumer electronics and footwear are those they’re more likely seek out online vs. in-store and 17% (US$56 billion) of all online U.S. sales are from Hispanics.”