The $1 trillion Hispanic Opportunity for Restaurants
QSR spells family for the Hispanic market. A time to enjoy with others and share a meal with great taste and value. QSR’s provide an affordable indulgence for most Hispanic families. Hispanics overindex in going out to eat. Some dynamics that drive this behavior are the need to socialize and be out about town. Another driver is the desire to spend time with friends and family. Hispanics are more likely to travel in groups for sociability and qsr’s provide a convenient location to bring everyone together.
While Hispanics may get out more and be more likely to spend money at a qsr, they cannot be taken for granted. Taste is an important indicator which they will not sacrifice. So in essence it’s not only venue but an entire qsr experience that drives business with this consumer segment. A positive and holistic experience might include a family value meal that tastes great in an environment that is friendly, well lit and provides a variety of choices for their palette.
As an example, McDonald’s does a great job of creating a positive experience for this consumer set. It advertises in English and Spanish, it is aspirational, provides great tasting, high value meals in an environment that is cheerful and has a playground in some locations for the kids. This invitation to the consumer to engage is appealing across the board. Other QSR’s should learn something from this strategy to effectively communicate and engage with Hispanics.