Two-thirds of Celebrants Expect Inflation Impact; Ready-to-Drink Cocktails Poised to Win With Hispanic / Latino Consumers
CHICAGO, May 2, 2022 (GlobeNewswire) – Numerator, a data and tech company serving the market research space, has released a consumer sentiment study to identify how different ethnicities plan to celebrate and shop for Cinco de Mayo 2022. Although nearly half of consumers plan to celebrate Cinco de Mayo, more than two-thirds of celebrants expect inflation to impact their plans. Black consumers are more likely to celebrate than White / Caucasian consumers, and Hispanic / Latino consumers are more likely to celebrate by cooking at home.
Key Findings Include:
- Hispanic / Latino consumers are nearly twice as likely to celebrate as White / Caucasian consumers. 74% of Hispanic / Latino consumers plan to celebrate Cinco de Mayo, compared to 54% of Black consumers, and 39% of White / Caucasian consumers.
- Inflation concerns are rising as COVID concerns wane. 67% of consumers expect inflation and product shortages to impact their Cinco de Mayo plans. Pandemic concerns are dropping as 42% of consumers expect the pandemic to affect their celebration plans, down significantly from the 78% in 2021.
- Celebration types vary by ethnicity. Hispanic / Latino consumers are more likely to grill out (37% vs 26% all consumers) or cook/bake at home (22% vs 18% all). Non-Hispanic consumers are more likely to go out for food or drinks (34% vs 27% Hispanic / Latino consumers).
- Imported beers are most popular overall, but ready-to-drink cocktails are becoming more popular with Hispanic / Latino shoppers. Among the nearly two-thirds of consumers who plan to buy alcohol for Cinco de Mayo, 48% plan to buy imported beer, 44% plan to buy spirits, 34% domestic beer, 30% ready-to-drink cocktails, 26% wine, and 19% hard seltzers.
- Modelo rivals Corona in popularity among Hispanic / Latino consumers. Among those who plan to buy imported beer, more than three-quarters (78%) of Hispanic / Latino consumers plan to buy Corona and 76% plan to buy Modelo.
- Tecate is more than twice as likely to be preferred by Hispanic / Latino shoppers. 35% of Hispanic / Latino shoppers say they will buy Tecate and 76% plan to buy Modelo (compared to 16% and 47% of all imported beer shoppers, respectively). These ethnic splits are not seen with brands like Corona, Dos Equis, and Pacifico.
- Hispanic / Latino consumers are more likely to purchase non-food and beverage items to celebrate. Hispanic / Latino consumers are 97% more likely to buy apparel, 73% more likely to buy decorations, 53% more likely to buy party supplies, and 7% more likely to buy alcoholic beverages for Cinco de Mayo.
- 8 in 10 consumers plan to shop in-store for Cinco de Mayo. More than half (56%) of consumers plan to make their Cinco de Mayo purchases from grocery stores, 39% from mass retailers, 23% from club stores, 21% from bars/restaurants, and 10% from online-only retailers, such as Amazon.
Numerator’s 2022 Cinco de Mayo survey was fielded from 4/7/22 – 4/12/22 to 2,131 individuals.
About Numerator:
Numerator is a data and tech company bringing speed and scale to market research. Numerator blends first-party data from over 1 million US households with advanced technology to provide unparalleled 360-degree consumer understanding for the market research industry that has been slow to change. Headquartered in Chicago, IL, Numerator has more than 2,500 employees worldwide. The majority of Fortune 100 companies are Numerator clients.
