Hispanic Home Improvement Spending Tops $19B in 2012. Sears and Home Depot Lead in Hispanic Outdoor Power Equipment Sales
Denver, CO (PRWEB) September 24, 2013 -- David Garcia presented surprising findings at the OPEI (Outdoor Power Equipment Insititute) Market Statistics meeting. Q2 2013 TraQline Hispanic results illustrate recent trends in Hispanics’ purchasing behavior within Home Improvement including Outdoor Power Equipment (OPE). Some of the findings include:
• In 2012, Hispanics’ estimated share of Home Improvement spending topped $19B or 9% of sales.
• Hispanics’ internet adoption has accelerated and is similar to the overall US population in terms of online shopping (37%) and online buying (11%) for Outdoor Power Equipment.
• Sears and Home Depot are the leading Outdoor Power Equipment retailers for Hispanics.
• Hispanics are twice as likely to buy OPE as a gift than the US overall.
• When asked why an OPE purchase was made at a specific retailer, “Advertising” was significantly more influential with Hispanics than the overall US market. Additionally, Hispanics are more “Price” sensitive and tend to shop more retailers before purchasing OPE.
The Stevenson Company’s proprietary ongoing TraQline Hispanic tracking survey measures purchase behavior for tens of thousands of Hispanic shoppers in the US. The survey allows marketers, researchers, executives, and planners to see how Hispanics shop differently versus non-Hispanics. These differences are even more prominent when looking at Language spoken at home. The more Spanish is spoken at home, the more likely they are to shop different Outdoor Power Equipment brands and at different retailers.
“Hispanics’ internet adoption has accelerated dramatically” said Garcia. “This provides retailers and manufacturers with another way to communicate marketing messages to this fast-growing demographic.” David went on to say, “With Hispanics making up over 50% of the total net increase of homeowner households in 2012, they are a critical segment that needs to be focused on within the Home Improvement Industry.”
About The Stevenson Company
Louisville, KY based The Stevenson Company delivers improved market intelligence for North American retailers and manufacturers. Delivering greater insights into market data such as Home Improvement trends, while also providing exceptional customer service, is the foundation of The Stevenson Company. Its TraQline solutions provide consumer market research and insights that can be customized based on the individual needs of retailers and manufacturers. For more information on OPE trends, please visit: http://stevensoncompany.com/outdoor-power-equipment-market-trends. For more information on TraQline Hispanic, visit our website.
For more information on TSC and TraQline, contact Eric Voyer: 502-271-5267 or ericv(at)stevensoncompany(dot)com.
Eric Voyer, The Stevenson Company, http://www.traqline.com, +1 502-271-5267, [email protected]
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