Latinas Are Increasing Their Earnings and Making Family Purchase Decisions

9/6/13

Almost one in four U.S. Latinas (24%) are contributing more to their household’s total income now than they were a year ago, according to Nielsen. They plan to spend any extra money they earn in the next five years primarily on paying off debt (73%), building up general savings (63%), and saving for retirement (38%). Latinas are much more likely than non-Hispanic white women to earmark extra money for purchasing a new home (250% more likely) or furthering their education (163% more likely). They are also 21% more likely than non-Hispanic white women to have purchased a first home in the past year.

Nearly nine in 10 Latinas (86%) say the primary shopper in their household is a woman. Areas in which Latinas say women are the primary decision-makers in their homes include food and beverages, clothing, and pharmaceuticals. Decisions about social activities, family finances and insurance, and personal and home electronics are most likely to be shared.

Latinas are highly connected and are especially active users of mobile Internet. More than three-quarters of online Latinas (77%) own smartphones, compared to 55% of non-Hispanic white online women. They’re twice as likely as non-Hispanic white women to use mobile devices for streaming audio or watching video, 76% more likely to use mobile banking, and 56% more likely to shop via mobile.

Most Latinas rely on online information to help them make decisions about purchases, daily life choices, and significant events. Latinas search online most frequently for recipes and cooking information, beauty tips, and information related to their personal health and wellness.

More than six in 10 Latinas (62%) wish there were more online lifestyle information written “for Latinas like me,” and 56% wish there were more online lifestyle information written in Spanish. The majority of online Latinas (55%) surf the Web at least partly in Spanish, including 31% who surf equally often in Spanish and English. More than three-quarters of Latina (77%) social media users say the majority of their friends on social networks are Hispanic.

SOURCE: “Latina Power Shift,” August 2013, Nielsen, Paul Donato, Chief Research Officer, 85 Broad St., New York, NY 10004; 646-654-5000; paul.donato@nielsen.com; www.nielsen.com/us/en/reports/2013/latina-power-shift.html. Price: Available online at no charge.

© 2013 Business Valuation Resources, LLC (BVR). May not be reproduced without written consent of publisher.

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