Hispanics DIY: Build and Acquire, Don’t Hire

Oct 02, 12 Hispanics DIY: Build and Acquire, Don’t Hire

By Cassandra Bremer, Content Developer at The San Jose Group

From housekeeping to home making, the Hispanic consumers are a “do it yourself” (DIY) kind of population. Rather than hire professionals to paint the house, build the fence or mow the lawn, Hispanics are apt to DIY— painting their own homes, building their own fences and mowing their own lawns.

However, before they can give their homes personal makeovers, they must be properly equipped. Home improvement, construction product and service retailers that effectively focus on lifestyle and culture are among those who realize the Hispanic spending potential.

Hispanics massive spending power exceeded $1.1 trillion in 2011, and over the next ten years, Hispanics are expected to account for 40 percent of the estimated 12 million new net household.1 Manufacturers of Consumer Household Goods, specifically paint and painting supplies, power tools and appliances, and building materials, should take note because the National Association of Realtors reports new homeowners spend over $60,000 per household on furniture, home improvement, and related items.1

Unlike the general population who turned to a DIY mentality during the economic recession of 2008 and 2009, the Hispanic DIY trend did not result from the economic downturn; rather, Hispanics as a culture tend to do their own work, with pleasure.

According to the National Association of Hispanic Real Estate Professionals, homes stand as symbols of pride and accomplishment for Hispanics.1 Hispanics also take pride in their work. Therefore, their improvement efforts are taken seriously; just because they do it themselves, doesn’t mean they’re not willing to spend money to make it a job well done.

“Suppliers and manufacturers of home improvement products have the chance to hit the Hispanic ‘Do it Yourself’ consumer’s nail on the head,” said George L. San Jose, president and chief creative officer of The San Jose Group. “With increased homeownership among Hispanics, comes increased spending on Consumer Goods used to transfer a new household into a Hispanic family’s home.”

America is heading into a time when more and more homes will be switching hands from the baby boomers to the next generation, many of which are young Hispanics. Efforts for home enhancement will produce huge growth opportunities for marketers of consumer goods who target the Hispanic audience and their $1.1 trillion spending power.

Becerra, Alejandro. (March 2012). “The 2011 State of the Hispanic Homeownership Report.” The National Association of Hispanic Real Estate Professionals: San Diego. Retrieved from http://nahrep.org/downloads/state-of-homeownership.pdf.

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