Hispanic women report they’re very stressed about the economy and losing their jobs, but far from snapping shut their purses, many of them are still spending, according to a new survey from People en Español.
The Time Inc. magazine’s annual HOT study, which stands for Hispanic Opinion Tracker, found 43 percent of Hispanic women, versus 36 percent of the general market, are very stressed about the economy.
Yet nearly half—47 percent—say they’re spending the same or more, compared with 38 percent of the general market.
“At the core is the staples and their family,” said Lucia Ballas-Traynor, publisher of Español. “They’ve increased their spending on groceries because they’re spending more time cooking at home. They’re inceasing spending on beauty products, because when you’re surrounded by doom and gloom, beauty is at the core of Latina women, and it makes them feel happy.”
Español’s reliance on the auto and retail ad categories has hurt it as the economy has soured. This year through June, ad pages fell 32.7 percent to 266, per the Mediaweek Monitor.
Ballas-Traynor hopes the survey will help her appeal to marketers in those categories where Hispanic women reportedly are still spending. “This market could present an opportunity for brands that haven’t been talking to us before,” she said.
Due out June 17, the study was conducted by phone for People en Español by Cheskin Added Value. Cheskin polled 1,500 women ages 18-54, including 1,000 Hispanic and 500 general market consumers, in March and April.