CHICAGO—Fewer than half of consumers (44%) plan to celebrate Cinco de Mayo, and more than two-thirds of celebrants expect inflation to impact their plans, according to data from Numerator.
Inflation concerns are rising as COVID concerns wane. Sixty-seven percent of consumers expect inflation and product shortages to impact their Cinco de Mayo plans. Pandemic concerns are dropping, as 42% of consumers expect the pandemic to affect their celebration plans, down significantly from the 78% who cited pandemic worries in 2021.
Celebration types vary by ethnicity. Hispanic/Latino consumers are more likely to grill out (37% vs. 26% all consumers) or cook/bake at home (22% vs. 18% all). Non-Hispanic consumers are more likely to go out for food or drinks (34% vs 27% Hispanic/Latino consumers).
Eight in 10 consumers plan to shop in-store for Cinco de Mayo. More than half (56%) of consumers plan to make their Cinco de Mayo purchases from grocery stores, 39% from mass retailers, 23% from club stores, 21% from bars/restaurants and 10% from online-only retailers, such as Amazon.
Imported beers are the most popular overall, but ready-to-drink cocktails are becoming more popular with Hispanic/Latino shoppers. Among the nearly two-thirds of consumers who plan to buy alcohol for Cinco de Mayo, 48% plan to buy imported beer, 44% plan to buy spirits, 34% domestic beer, 30% ready-to-drink cocktails, 26% wine and 19% hard seltzers.
Modelo rivals Corona in popularity among Hispanic/Latino consumers. Among those who plan to buy imported beer, more than three-quarters (78%) of Hispanic/Latino consumers plan to buy Corona, and 76% plan to buy Modelo. Tecate is more than twice as likely to be preferred by Hispanic/Latino shoppers—35% of Hispanic/Latino shoppers say they will buy Tecate. These ethnic splits are not seen with brands like Corona, Dos Equis and Pacifico.
Hispanic/Latino consumers are more likely than non-Hispanic consumers to purchase non-food and beverage items to celebrate. Hispanic/Latino consumers are 97% as likely to buy apparel, 73% as likely to buy decorations, 53% as likely to buy party supplies and 7% as likely to buy alcoholic beverages for Cinco de Mayo than other demographic groups.