18 Jul The NPD Group Reports Hispanic Women Now Account For Close To One Out Of Five Dollars Spent On Women’s Fashion Footwear
The NPD Group, a global information company, reports that Hispanic women spent an estimated $3.3B on fashion footwear (June 2012 – May 2013), representing 18 percent of the total women’s fashion footwear market*.
“Hispanic women are a relevant, growing group of consumers,” said Marshal Cohen, chief industry analyst, The NPD Group, Inc. “They are young, have increasing spending power, and believe in brand names and their value.”
The Hispanic consumer is spending more dollars at retailers offering brand names with the fashion footwear styles they want. Channels that focus on brand names and command higher price points, such as department stores, are benefiting from the higher spend and posting stronger growth.
“It is important to know if you are getting your fair share of the Hispanic consumer and if you are maximizing the potential on a local level to capture this critical opportunity,” said Cohen. “The Hispanic space is significant for retailers and manufacturers, but they must focus on Hispanic markets and understand what is driving the growth on the market level.”
Fashion boots is the number-one style in the total US market, but in the combined market cluster of El Paso, TX, Harlingen, TX, and Miami, FL, – pumps are number-one.
“In order to drive fashion footwear growth at the market level in the highly populated Hispanic areas, feature the styles Hispanic women love,” said Cohen.
“Fashion footwear is important to the Hispanic community, and opportunity is driven by local-level insight, so leverage behaviors that make Hispanics special, like their shopping style. Community-based strategies can be developed to maximize marketing dollars and nourish connections with valued customers,” concluded Cohen.
About The NPD Group, Inc.
The NPD Group provides global information and advisory services to drive better business decisions. By combining unique data assets with unmatched industry expertise, we help our clients track their markets, understand consumers, and drive profitable growth. Sectors covered include automotive, beauty, consumer electronics, entertainment, fashion, food / foodservice, home, luxury, mobile, office supplies, sports, technology, toys, and video games. For more information, visit www.npd.com and npdgroupblog.com. Follow us on Twitter: @npdgroup.