Hispanic Consumer Sentiment Is Positive Across Multiple Economic Metrics Despite Whirlwind Election Year

1. ThinkNow Pulse™ 2017 Hispanic Consumer
Sentiment Study
Hispanic Consumer Sentiment Is Positive Across Multiple
Economic Metrics Despite Whirlwind Election Year
By many measures, 2016 was an eventful year, to say the least, for Americans.
From one of the most inspiring Olympics on record to a contentious presidential
election season, many are exhausted and looking forward to a fresh start in 2017.
Using this year of extremes as a backdrop, ThinkNow Research conducted its fourth
annual Consumer Sentiment Study across a representative sample of Hispanics,
African-Americans, Asians, and non-Hispanic whites. Below are insights gleaned
from this year’s ThinkNow Pulse™ Consumer Sentiment study.
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Consumer Sentiment
This year, 2016, showed signs of a recovering economy for minorities. The Census
Bureau’s report on income, poverty, and health insurance coverage in 2015 shows a
significant increase in median income for Hispanics and African-Americans market
research for the first time in many years. This boost was reflected in our study when
we asked – “Thinking of all of the sources of income that contribute to your
household, compared to this same time last year, would you say your household
financial situation has”:

2. Hispanics top the list in citing that their household financial situation
has improved since this time last year at 43%. Whites and African-Americans are a
close second and third at 39% and 38%, respectively.
Heading into 2017 with this uptick in their current financial situation, Hispanics are
feeling good about their personal/family finances. When asked – “Thinking of your
own personal and your family finances for 2017, which of the following would you
say best describes your feelings towards this upcoming year?” :

3. 56% of Hispanics indicated that they think their personal finances will be better in
2017 than 2016. This statistic is significantly higher than Asians and Whites at 47%
and 44% respectively. African-Americans top the list of indicating that 2017 will be
better from a personal finances perspective at 63%.
Consumer Purchases
So, we’ve established that Hispanics are making money and feeling good about
2017…now for the good stuff: WHAT are they buying? When asked – “Thinking
about major purchases that people might buy for themselves or their family, are you
planning on buying a ____ in the next 12 months”:
Electronics are the top three major purchases Hispanics are looking to pull the
trigger on in 2017 with Computer/Laptops in the lead followed by home electronics,
and then tablets. African-Americans are significantly more likely to purchase new
home electronics in 2017 than Whites and Asians.
The End Game
Coming out of a whirlwind election year, it’s easy to forget how resilient consumers
are. The economy has been on an upward albeit slow trajectory, as signified by
rising incomes for minorities and improving sentiment.
In fact, our consumer sentiment data points to a consumer base that is feeling good
about the future and are ready to spend. Progressive brands – like Tecate with their
message of positivity – can turn the aftermath of such a tumultuous year into a big
win by creating marketing campaigns that target cross-cultural consumers and
sharing inspirational brand stories about products and services that meet their
needs, ultimately driving sales and loyalty for the brand.

4. Download This Study
Download the full detailed report for free. Please click the link below to get your copy
now.
DOWNLOAD NOW
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January 5th, 2017|African-American Market Research,Asian-American MarketResearch,Blog,Consumer
Sentiment,Hispanic Consumer Research,Hispanic MarketResearch,Hispanic Online Research,Integrated
Market Research,Multicultural Consumers,Online Market Research,Total Market Research,Total Market Views
About the Author: Mario X. Carrasco
Mario is ThinkNow Research's Managing Partner. He entered the Hispanic arena as
Marketing Director at Hispanic Business Magazine, the leading Hispanic business
publication. There, he quickly became a leader in Hispanic online marketing.
Microsoft took notice in 2006 and he joined the MSN Latino product group where he
developed targeted microsites and partner portals. Mario was hired by Garcia
Research in 2008 to develop the first representative Hispanic Online Panel with an
emphasis on the Spanish-dominant community, CadaCabeza. Mario became Vice
President of Online Research at in 2009 and then went on to co-found ThinkNow
Research.