The holiday shopping season is underway and American consumer interest in home technology products continues to expand. Scarborough Research examined Hispanic households planning purchases of several key home technology products: HDTVs, Smartphones and MP3 players.
Best Buy and Walmart are Neck-and-Neck for Household Technology Shopper Penetration
Scarborough’s analysis of retail data shows that Best Buy and Walmart attract the highest percentage of Hispanic home technology shoppers:
30% of Hispanic Households shopped Walmart for audio-video items during the past year. 27% shopped at Best Buy. 41% of Hispanic households who plan to buy HDTVs, MP3 players or Smartphones during the next year shopped Walmart for AV items during the past year. 39% plans to do it in Best Buy.
Hispanic households planning purchases of HDTVs, MP3 players or Smartphones during the next year are 38% more likely than all Hispanic households to have shopped Walmart for audio-visual items during the past year. In this area Best Buy beats Walmart with 44% of Hispanic households more likely to purchase technology at Best Buy.
23% of all Hispanic households who shopped Best Buy (22% Walmart) for AV items during the past year are planning purchases of HDTVs, Smartphones or MP3 players during the next year. In this area the competition among all competitors is tide, the best performance is for Kmart with 29% while Walmart presented the lower ones.
HDTV, Smartphone and MP3 Ownership Surge in the General Market…
Scarborough Research focused its home technology shopper analysis on consumers planning HDTV, Smartphone or MP3 player purchases because the firm’s data shows a sharp increase household ownership of these items since 2007. During this timeframe:
· HDTV tripled. In the company’s 2007 report, 16 percent of households had an HDTV. The ratio increased to 48 percent in Scarborough’s most recent study.
· Smartphones doubled. Seven percent of households had at least one Smartphone in 2007. The ratio increased to 14 percent in 2010.
· MP3 Players doubled. Eighteen percent of households had at least one MP3 player in 2007. This increased to 36 percent in 2010.
… a snapshot of the situation in the Hispanic market:
– 48% of all US Households currently own HDTV.
– 36% of all US Households currently own MP3 players.
– 45% of all Hispanic households currently own HDTV.
– 38% of all Hispanic households currently own MP3 players.
Hispanic households are 7% more likely than all households nationally to currently own MP3 players. But for HDTV and Smartphones, the Scarborough study indicates that Hispanics are 5% less likely to own them than General Market individuals.
General Market: Internet access, Broadband and DVR Penetration Increase
Internet access, broadband penetration and DVR penetration increased as well in the general market. Almost three-fourths of adults (74 percent) now access the Internet, up from 67 percent in 2007. Broadband penetration has increased, from 45 percent of adults having broadband access at home in 2007 to 61 percent in 2010.
DVR adoption also increased. The percentage of homes having a DVR increased from 26 percent in 2007 to 34 percent in 2010.
Cell Phone Ownership Levels Off, Cellular Spending is Up
Scarborough finds that 82 percent of American adults now use a cellular phone, compared to 70 percent in 2007. But, while device ownership is flattening, spending is increasing. In the 2007 report, only five percent of U.S. adults spent $150 or more monthly on cellular services. This doubled to 10 percent in 2010.
Research: Best Buy, The Home Depot, are the leading Hispanic FSI Advertisers
@ Our Conference: Mobile, Home Theater and Gaming, Best Buy's Hispanic Priorities