Multicultural Shopper Insights
With Hispanics or Latinos the fastest growing demographic in the U.S. and forecasted to reach 25% of the population by 2045, it is increasingly important to understand the preferences and behaviors of this influential consumer segment.
Historically, very little sales data has been available to drill into specific learnings about the Hispanic shopper, as the aggregated Syndicated sources often masked these insights and those data sets did not include sales data from Bodegas and other urban independent retailers often shopped by this consumer.
The NRS stores are located in these diverse, multicultural neighborhoods and the data collected from the POS terminals at the store level lends itself to segmentation and clustering to drill into nuances in the brand preferences influenced by the customs and traditions of the country of origin of the different Hispanic groups.
With the NRS data you can:
- Trend Spotting: Reveal product and/or flavor trends emerging through the multicultural shopper groups that will influence mass market trends.
- Mix Optimization: Fine tune your product portfolio by understanding how the multicultural shopper preferences are different from National and Regional Trends, to maximize your growth within the Urban Retail sector.
- Inform R&D and Acquisition Strategies: Leverage insights regarding the multicultural shopper to help inform R&D and acquisition strategies as you look to bring to market products that appear to this growing demographic segment.