Survey predicts that Hispanics will spend 7% more during the Christmas holidays

It is expected that during the holiday season, Hispanics spend an average of US $985, 7% more than last year and almost 15% more than the average spending expected in the general population. They also plan to make more purchases in shops and traditional specialized departments.The findings are part of an annual survey conducted by Brand Keys, a consulting research of brand loyalty and customer engagement based in the city of New York, in which more than 2,400 Latino consumers participated.According to the study, the majority of in-store sales will increase at Christmas time by 23%. The traditional department store sales will grow 10%, and 8% less Hispanics will buy in discount stores, but the channel still counts on 90% of holiday shopping. It is also expected that catalog shopping declines with almost 98% of all Latinos expecting to shop online.”Again, this year there are high expectations for Hispanic consumers,” Robert Passikoff, founder and president of Brand Keys, said. “Retailers who can integrate a sense of Hispanic culture and experience of its stores with the media will probably find it a winning combination for this segment of the population.