Hispanic grocery spend on the rise
7-Eleven recently expanded its store brand bakery offerings.
Retailers and manufacturers of private brands may have an opportunity to increase product development among Hispanics, considering the U.S. Hispanic consumer segment has surpassed $1.5 trillion in purchasing power and is estimated to hit $1.7 trillion by 2019. The bigger news is there was a 22 percent increase in Hispanic spending at grocery stores from 2010 to 2015, according to MediaPost. By 2020, Hispanic consumers will be buying $96 billion in groceries, a 47 percent jump from the prior decade.
MediaPost reports that U.S. Hispanic shoppers spend more of their household income on groceries than their non-Hispanic neighbors. Citing Nielsen data, Hispanic shoppers spend $81 per visit on food compared to non-Hispanics who spend $71.