Hispanic consumers will likely continue buying Constellation Brands beer even as they tighten their purse strings, according to Jefferies, which can help the company as many shoppers experience economic stress.
More than 40% of households purchasing Constellation's beer brands such as Corona and Modelo are Hispanic, according to Jefferies analyst Kaumil Gajrawala.
But the Hispanic consumer base is tightening its belt elsewhere within the budgets and keeping up its Constellation spending, the analyst found.
Jefferies data shows total beer spend across brands from Hispanic buyers is down 9% from 13 weeks ago.
At Constellation Brands specifically, it ticked up just 1%, clearly boosted by the continued support of the Hispanic community.
Persons:
Jefferies, Kaumil Gajrawala, Gajrawala
Organizations:
Constellation Brands, Corona, Modelo, Jefferies, Constellation, America