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New research from the Food Marketing Institute (FMI) Private Brands Group offers the following findings:

• “Thirty-seven percent of Hispanic shoppers are purchasing more private brand products this year and 25 percent plan to buy more in 2010.”

• “More than seven in 10 Hispanics (73 percent) agree that ‘store brands are a great value for the money,’ including over half (52 percent) who ‘strongly agree.’ Nearly as many (64 percent) agree that ‘store brands are just as good as national or international brands,’ with more than four in 10 (42 percent) holding this view strongly.”

• “Household income does not affect the amount spent. In fact, Hispanics earning $50,000 or more per year spend the most at $92.67. Retailers that offer multiple tiers of products, from basic to premium, can effectively market private brands to Hispanics at all income levels, according to the research.”

• “Youngest shoppers, 18-24, spend more than any other age group at $99.41 every two weeks. In addition, 42 percent of Hispanics entering their prime earning years, 25-39, have increased spending on these products this year.”
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