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Hispanic consumers try to cut costs amid economic downturn(EFE Ingles Via Acquire Media NewsEdge) By Cecilia Figueroa. Orlando, Florida, Sep 25 (EFE).- The economic slowdown in the United States and higher food prices have prompted Hispanic families in central Florida to make greater use of coupons and to seek out discount supermarkets to reduce their spending. According to Rosita Toledo, the high cost of food and gasoline has made her more cost-conscious when deciding where to do her bi-weekly grocery shopping. "You have to make the money go further; that's why I look for stores with better prices. Here, with the same budget, I'm going to be able to buy more things in this supermarket with some really cheap prices," this Puerto Rican resident of Kissimmee told Efe while shopping at the ALDI discount supermarket chain in St. Cloud, which had its grand opening on Thursday. The Germany-based chain, which has stores in much of the eastern and midwestern United States, on Thursday opened 10 grocery stores in central Florida and plans to open more in other parts of the state in the coming months as it tries to attract customers with prices the company says are up to 50 percent lower than at traditional supermarkets. "Our prices are 50 percent cheaper than other traditional supermarkets and also Hispanics are going to find low prices for their products all year round," ALDI's national purchasing director, Hector Alejandro, said. Some of the attractive prices drawing in new customers include $2.79 for a gallon of milk - compared with a $4 average in that part of the state; $0.99 for butter and $0.67 for a can of tuna. For his part, Rafael Botero, a financial analyst for Botero Consulting Corporation in Orlando, said Hispanic families are being forced to change their spending habits amid the economic turmoil in the United States. "They're changing their families' patterns of consumption. The price of gasoline and the economic crisis are going to force us to change our habits. It's not about not buying products, it's about buying efficiently and at a good price," he said. According to the expert, Hispanics could shop more efficiently, especially by searching on the Internet beforehand to see where the best prices can be found. "Without leaving their homes they can review the coupons (in the newspaper), look on the Internet before going shopping, look at the prices and compare." he added. Other ways families can save money is to carpool with other people and buy in bulk at membership warehouses. "Now it's essential that two people come together and make a big shopping trip, to not waste gas and time," he said. The price of food rose 4 percent in 2007, compared with an average annual increase of 2.5 percent over the past 15 years, according to U.S. Department of Agriculture figures. Experts estimate that food prices could rise as much as 6 percent this year, the biggest increase since 1990. EFE cf/mc Copyright ? 2008 EFE News Services (U.S.) Inc. |