Posts Tagged: shopping
Prevent a Post-Holiday Financial Hangover
However, there's still time to take control of your spending and prevent post-holiday financial headaches. Here's how:
1. Plan your gift-giving strategy.
Decide how much you want to spend on gifts. Make a list of everyone you plan to buy for, along with any gift ideas. Then, divide up the total dollar amount you have to spend by allocating the amount to spend on each person's gift.
Brainstorm possible gifts ideas for everyone on your list that can be purchased with the dollar amount allocated for that person. To reduce the amount spent consider family gifts (rather than individual gifts), gifts of time or service, or if appropriate, passing on family heirlooms as holiday gifts.
Charging holiday gifts means starting 2018 in debt. Instead of using your credit card pay cash if possible. Unlike swiping a credit card, the “ouch” factor when we open up our wallets and hand over the hard cash keeps our spending in focus.
Some people use the “envelope system” for cash management. Put each person's name on an envelope and the amount allocated for their gift inside. When an envelope is empty, you are done buying for that person.
Alternatively, pay for gifts with a debit card instead of your credit card. This avoids interest charges and big bills in January because the amount spent is automatically deducted from your bank account. Keep track of debit card spending to avoid overdraft charges.
If you buy holiday gifts using your credit card, stick with just one card so it's easier to keep track of spending. Pick the card with the lowest interest rate and a grace period (if available).
3. Pre-shop before you buy.
A good rule of thumb is to compare prices with at least 3 sellers. You may save as much as 30%. Mobile apps and online shopping make this fast and easy. If buying an item you are unfamiliar with, find out the most important features to look for. Know the going price so can recognize a true sale. Just because an item is advertised in red letters doesn't mean it's a good deal, or even that it's on sale.
4. Shop with your list.
Stick with your plan. Only buy gifts for people on your list, and stay within planned spending limits.
Your name is not on the list so don't buy things for yourself when holiday shopping. If you see a great buy on that mini tablet you've been wanting, or a red cashmere sweater that would look terrific on you---leave it in the store and drop a hint to someone who has you on their gift list.
5. Check your receipts.
Double-check your receipt before leaving the store to be sure you were not overcharged. If you see a mistake, get it corrected immediately.
Check the receipts for online purchases too. I recently bought something from an online store that offered free shipping on amounts over $50. My purchase exceeded $50 so I entered the required code and completed the purchase. However, the receipt showed I was charged for shipping. I called the company's 800 number to get the problem corrected.
6. Enjoy your holiday gift giving and wake-up to a debt-free 2018.
Hispanic Americans are foreshadowing the future of media in the U.S.
Research findings from Specific Media and SMG Multicultural include:
- Hispanic Americans spend more time shopping online in general. Hispanic Americans spent 83 percent more time on the Internet than non-Hispanic Americans, and they also spend nearly four times as long shopping online via websites or apps.
- Hispanic Americans are leading the adoption of smartphones and tablets as media devices. Hispanic Americans spend a greater amount of time engaged in online activities on their smartphones (26 percent compared to 20 percent of non-Hispanics) and tablets (16 percent compared to 13 percent of non-Hispanics), while non-Hispanic Americans spend a greater amount of time engaged in online activities on their desktops (67 percent compared to 59 percent of Hispanics). Hispanics are also more likely to perform purchase-related activities on their mobile devices.
- Hispanic Americans are more favorably pre-disposed to advertising in general. Across all three digital platforms – desktop, smartphones and tablets – Hispanics are far more likely to find ads useful, relevant, influential and informative. This discrepancy is greatest in the smartphone category, with Hispanic audiences reporting they find ads useful and relevant at more than double the rate of non-Hispanics (36 percent compared to 17 percent of non-Hispanics).
- Hispanic Americans multimedia-task while watching TV and engage more across platforms with programming and ads. Findings show that Hispanic audiences are not only more likely to engage in other digital activity while watching TV, but they are also twice as likely to engage with a brand based upon TV ad characteristics.
- Facebook is the most popular online site across the board for Hispanic and non-Hispanic audiences. Amazon gains the highest amount of unique visitors by English-preferred Hispanics, and YouTube has the highest amount of unique visitors by Spanish-preferred Hispanics. Bing is the favored search engine choice for Hispanics; however non-Hispanics prefer to use Google.
Source: Published originally on HispanicAd.com as Hispanic Americans are foreshadowing the future of media in the U.S., March 12, 2015.
New Food Trends for Latina families
Since Hispanics currently represent 16 percent of the total U.S. population, have a predominately larger household, and spend more money on groceries than non-Hispanic households, it is critical that marketers understand the role that food plays in the lives of Latinas. In order to gain deeper insight into the changing food consumption behaviors in the Latina marketplace, the research department at Hispanic Ventures tapped into their “Entre Nosotras” (“Between Us”) database of 5,000 loyal and influential subscribers to conduct the food trend report.
Among the survey’s findings:
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Nutrition matters to Latinas, with nearly 4 in 5 respondents reading nutrition labels. Hispanics care about purchasing foods low in fat, high in fiber, and low in sugar; and more than half of respondents buy organic products.
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Latinas said they are not only shopping the Hispanic aisle – they have eclectic palettes and enjoy cooking a wide variety of foods. These aspiring epicureans want to learn more about global cuisines, and they continue to seek samples and coupons to learn about new products.
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Similar to the general market, convenience is very important to Latinas. Respondents said they use disposable plates, towels and utensils, and they buy frozen vegetables, canned soups, and protein bars.
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Latinas are connected online, with nearly half of respondents saying they use a mobile or smart phone to assist them while shopping. The report showed that 55 percent of Latinas who use recipes get them from the internet, and 60 percent search for recipes in Spanish. Smart phones, tablets and computers provide Latinas with the convenience and simplicity they crave.
Source: Published originally on HispanicPRpro as Meredith Hispanic Ventures releases New Food Trends Report, March 14, 2011.
/span>Advertisers must pay attention to Hispanic consumers
To see an example of the economic impact Latinos can have, one need look no further than their local grocery store aisle, where tortillas, taco kits and salsa outperform hamburgers, hot dog buns and ketchup sales.
The reports adds that many of America’s corporations cling to preconceived stereotypes instead of becoming informed about Hispanic culture and how it shapes the identity of Hispanic consumers and their community at-large. Hispanics represents 16.7% of the United States population with a purchasing power estimated to reach $1.5 trillion by 2015 when 1 in 3 newborns will be Latino, and by 2050, the percentage of Hispanics will have nearly doubled to 30%.
Experts suggest that advertisers must look well-beyond the Spanish-language demographic and wake-up to the fact that second and third generation English-speaking U.S. Hispanics – who represent 68% of partially acculturated Hispanics (dual cultural affinity) – is where the growing value of Hispanic purchasing power lies. It therefore should come as no surprise that Univision/ABC will be launching a 24/7 cable news network in 2013 that specifically targets English-speaking U.S. Hispanics.
The marketing agency Lapiz, recently released a new consumer research study called LatinoShop. Some of its findings show that Latinos view shopping not so much as a chore; instead it’s “a multisource, multisensorial and multigenerational experience that provides retailers and marketers with a wide range of opportunities to engage.” Here are just a few of the LatinoShop study’s findings:
Hispanics Shop with Their Senses
- 55% Hispanics vs. 38% Non-Hispanics – like to touch and feel a product
- 36% Hispanics vs. 13% Non-Hispanics – think it’s fun to immerse themselves in the store atmosphere
- 49% Hispanics vs. 19% Non-Hispanics – judge product quality by product packaging
Social Shopping (online and offline)
- 37% Hispanics vs. 17% Non-Hispanics – reach out to friends and family
- 36% Hispanics vs. 18% Non-Hispanics – share opinions and write reviews
- 48% Hispanics vs. 31% Non-Hispanics – use social networking sites
Mobile and Tablet Shopping
- 56% Hispanics vs. 33% Non-Hispanics – shop mobile with a phone
- 43% Hispanics vs. 25% Non-Hispanics – shop with a tablet
Trendsetting (Hispanics are more than twice as likely vs. non-Hispanics to):
- 41% Hispanics vs. 18% Non-Hispanics – follow the trends
- 31% Hispanics vs. 14% Non-Hispanics – like to try new products first
- 30% Hispanics vs. 13% Non-Hispanics – like to be first to share with friends
Radio, Billboards and Infomercials (Still Rank High Amongst Hispanic Consumers)
- Radio: 72% Hispanics vs. 46% Non-Hispanics
- Billboards: 59% Hispanics vs. 35% Non-Hispanics
- Infomercials: 52% Hispanics vs. 23% Non-Hispanics
Source: Forbes, Advertisers Must Pay Attention to Hispanics as rising trendsetters in 2013, by Glenn Llopis, January 9, 2013.
Shopping habits of Hispanics when purchasing frozen foods and snacks
According to the Census Bureau, by the year 2050, Hispanics are projected to account for 30.2% of the total U.S. population.
A new study from Univision Communications and SmartRevenue, Hispanic 411: Insights to Grow Your Business, looks at Hispanics shopping habits when they buy snacks and frozen foods.
Here are some of the findings:
Fifty-three percent of Hispanics shop more than once a week vs. 39 percent of non-Hispanics.
Preparing traditional meals for family holds high value to Hispanics because the mealtime together is important, and it helps keep the Hispanic culture alive. Yet time pressures create a need for more convenient foods.
Hispanics prepare “hybrid meals,” using some components from the frozen foods aisle, to bridge the divide between traditional tastes and convenience. Just 46 percent of Hispanics rely on frozen foods to create an entire meal vs. 59 percent of non-Hispanics who do so. Yet 42 percent of Hispanics do include frozen foods as part of the meal. The frozen foods they buy most: pancakes and waffles (47%).
Hispanics are more likely than non-Hispanics to incorporate snacks throughout the day—by a 23 percent to 15 percent margin. They are also more likely to consume snacks while at work.
Nearly 40 percent of Hispanics shop with their immediate family vs. 18 percent of non-Hispanics who do so. This results in more than one in three Hispanics considering recommendations from friends or family when buying frozen foods vs. about one in five non-Hispanics who do so.
Six in ten Hispanics (59%) cite “knowing others will like it” as a factor when buying frozen foods vs. 36 percent of non-Hispanics. When buying snacks, the figures are 66 percent Hispanics vs. 58 percent non-Hispanics.
Source: Phil Lempert Supermarket guru, How Hispanics buy frozen foods and snacks, August 3, 2012.