Savings Behavior of Powerful Multicultural Consumers

Curtis Tingle, Chief Marketing Officer, Valassis
Published Friday, Jan 6, 2017

Savings Behavior of Powerful Multicultural Consumers

Collectively, African-American, Asian and Hispanic consumers will wield a buying power of $4.2 trillion by 2020, according to the Multicultural Economy Report from the Selig Center for Economic Growth.

Findings from the 2016 RedPlum® Purse String Survey* further support the buying power and shopping habits of these powerful audience segments. In fact:

  • Multicultural consumers are more likely than all survey respondents to spend over 2 hours per week looking for coupons, deals and savings from all sources; and
  • 83 percent of multicultural consumers look for offers while in store via their mobile device (compared to 72 percent of all respondents); plus,
  • 70 percent visited a store, restaurant or other business after receiving an offer on their mobile device near the business location (versus 55 percent of all respondents).

View an infographic for more information from this revealing survey.

*The 2016 RedPlum® Purse String Survey of nearly 9,000 value-seeking consumers, with over 2,000 identifying as African-American, Asian/Pacific Islander or Hispanic, arm marketers with savings behavior data to attract and activate powerful multicultural shoppers.