Hispanic Consumers Weather Economic Storm Differently Than Non-Hispanics

CHICAGO--(Business Wire)--
Almost all Americans are cutting back because of the recession, but in Hispanic
households across the country, these cutbacks have a unique tone. New
information from market research firm Mintel shows US Hispanics skirting some of
the major lifestyle shifts being endured by non-Hispanics.

"Because of the recession, many people are scaling back-dining out less,
entertaining at home more, and spending less on their credit cards," states
Leylha Ahuile, senior multicultural analyst at Mintel. "Because Hispanic
consumers live simpler, more home-spun lifestyles, they don`t have to make many
of these cutbacks. This drastically changes their experience of the recession."

* Dining in, not out - While 52% of the general population is dining out less
because of the economy, Mintel finds Hispanics already dined in more frequently.
Hispanics spend the most on groceries of any ethnic group (averaging $115
weekly), and their spending is almost identical across income levels (not so for
non-Hispanics who spend more if they earn more).
* Entertainment at home - In both 2007 and 2008, despite economic declines,
Hispanics increased their entertainment spend, likely due to the fact that many
US Hispanics are young and starting families. Mintel found Hispanics are also
more likely than the general population to subscribe to movie-at-home services.
* Credit card debt - The financial crisis is riddling people`s confidence, but
because many Hispanics don`t participate in the banking system, they aren`t as
affected. Mintel found Hispanics are twice as likely (40%) as non-Hispanics
(21%) to have no type of account with a bank. Furthermore, less than half of
Hispanics have or use credit cards.

"Because Hispanics aren`t experiencing the major lifestyle shifts of
non-Hispanics, they remain optimistic for the future," comments Leylha Ahuile.
"Four in five Hispanics agree the US is the `land of opportunities`, while over
half believe their financial situations will improve soon."

Though Hispanics aren`t experiencing the complete societal overhaul of
non-Hispanics, they`re still suffering from the recession. Three in four (76%)
told Mintel their personal finances are in fair or poor shape, while less than
one in three (31%) said they feel secure financially.

Join Mintel`s Leylha Ahuile this afternoon to learn more about Hispanic
consumers. "Revisiting the Hispanic Consumer in Today's Economy", a free
webinar, July 14, 2009 at 1:00 pm CDT. Register at
http://www.mintel.com/hispanic-consumer-webinar/.

About Mintel

Mintel is a leading global supplier of consumer, product and media intelligence.
For more than 35 years, Mintel has provided insight into key worldwide trends,
offering unique data that directly impacts client success. With offices in
Chicago, London, Belfast, Sydney, Shanghai and Tokyo, Mintel has forged a unique
reputation as a world-renowned business brand. For more information on Mintel,
please visit www.mintel.com.

Joanna Peot
Mintel International
312-628-7946
jpeot@mintel.com

Copyright Business Wire 2009