Thursday, July 25News That Matters

Online Shopping Survey 2023: Hispanics Are Shopping More Online Than Last Year

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Consolidated Credit, the nonprofit organization whose mission is to help families resolve financial crises through financial education, credit counseling, and debt management programs, surveyed over 1,000 Spanish-speaking individuals in the United States to inquire about their online shopping habits. The 2023 Online Shopping Survey [esp] provides us with relevant data on shopping habits, trends, and the use of credit cards in the digital age.

"The survey results show a marked preference for online shopping among the Hispanic community. An impressive 63.9% of Latino respondents stated that they prefer to shop online rather than visit physical stores. This demonstrates a significant increase in the adoption of online shopping compared to previous years. In contrast, only 4% of surveyed Hispanics indicated a preference for in-store shopping.

The frequency of online shopping is also notably high among Hispanics, with 75.7% making between 1 and 5 online purchases per month. On the other hand, 55.7% of non-Hispanic respondents shop online with the same frequency.

Among the survey results, just over 43.6% of consumers agree that this holiday season they plan to spend between $100 and $500 on online shopping, as it is a more accessible and convenient option for savings and staying within a budget.

Another significant finding of the survey is that 48.08% of respondents, both Hispanics and non-Hispanics, prefer to use credit cards as their primary method of payment for online purchases. However, this trend is also reflected in credit card debt, where 29.1% of Hispanics have debts ranging from $5,000 to $10,000, while 21.7% accumulate debts between $1,000 and $5,000.

Regarding favorite online purchases, Hispanics highlighted their preference for clothing, with 45.5%, followed by home products at 42.4%. In comparison, the rest of the consumers indicated a higher preference for home products at 35.47%, while clothing received 24.31%.

2023 Marks The 30th Anniversary Of Consolidated Credit!

Consolidated Credit celebrates 30 years of assisting in all areas of financial education, from credit and housing counseling to budgeting assistance, speaking with veterans about financial stability, and collaborating with Habitat for Humanity and Junior Achievement of South Florida. Our team members have helped millions of people since 1993. Every individual in our nonprofit organization strives for positive change. We look forward to continuing to serve people in the United States for many more years.

Avoid Financial Freeze This Winter with Consolidated Credit

About Consolidated Credit:

In just over 30 years, Consolidated Credit has helped over 10.2 million individuals break free from debt and financial troubles. Their mission is to help families across the United States put an end to financial crises and resolve money management issues through education and counseling.

Contact Details

Jill Randolph

Company Website

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