Article originally published on Orlando Business Journal
The holidays are here, and companies are eager to boost their sales this season. Despite economic concerns, holiday spending is expected to remain similar to 2014, but with a forecast increase of 2 percent.
According to a Nielsen report, “Sleigh Bells Ring in October,” multicultural consumers are driving the sales increase, and it will be reflected in higher levels of online purchasing.
Digital is revolutionizing everything — the way we market products and the way we engage with consumers and perceive brands. Plus, there’s also the social media phenomenon adding to the change.
Based on Nielsen, 75 percent of consumers who are holiday shopping this year plan to do it online. More multicultural households plan to spend more on holiday gifts than the total population. According to a survey from Florida Atlantic University, Hispanics will spend 30.7 percent more on holiday shopping this year than in 2014.
So, the purchasing power of the Hispanic community will play an important role during this holiday season and for years to come.
All consumers are not the same. They have different shopping habits and prefer to be engaged with in different ways. Hispanics are trendsetters in the digital market. They are 2.5 percent more likely to be an early adopter of technology. They are always online, and SEO is the No. 1 source to gather information. As a matter of fact, Spanish keywords have increased from about 65 percent to over 200 percent between 2011-2014.
According to a Google report, “How to connect with U.S. Hispanics Online,” Hispanics are leading the adoption of mobile devices. Eighty-three percent of them access the Internet on a mobile device and use it while they are in a store to make an informed purchase in real time.
The holiday season in particular seems to produce an increase of online usage, especially with mobile apps. The number of smartphone users that access a shopping app has increased from 101.4 million to 109.9 million between fourth-quarter 2014 to fourth-quarter 2015, according to Nielsen.
So, if you want your season to be merry, follow these tips to boost your sales:
Let your holiday season become “felices” by reaching Hispanics. They will impact your company bottom line today and well into the future.