What you need to know

Hispanic Millennials have a significant influence on the broader Hispanic population and the US population as a whole. They account for more than one in four Hispanics and one in five US Millennials. Beyond numbers, they are not out of reach, as they embrace content consumption and social media and are growing accustomed to online video ads. They continue to be optimistic about the future, despite being severely impacted by the COVID-19 pandemic. Although habit drives their purchases, they have positive attitudes toward marketing and what brands have to say – providing fertile ground for brands that can meet their expectations at a reasonable price.

Key issues covered in this Report

  • The impact of COVID-19 on Hispanic Millennials.

  • How different segments of Hispanics approach marketing and how Hispanic Millennials fit into this dynamic.

  • What drives Hispanic Millennials’ loyalty and repeat purchases.

  • Which ad sources Hispanic Millennials consider relevant to reach people like them.

Definition

Mintel defines Millennials as the generation born between 1980 and 1996. In 2021, members of the Millennial generation are between the ages of 25 and 41. For the purposes of this Report, Mintel has further defined Millennial consumer segments as the following:

  • Younger Millennials: those born between 1989 and 1996, who are aged 25-32

  • Older Millennials: those born between 1980 and 1988, who are aged 33-41

Note: Mintel parameters for defining Millennials shifted in 2021. Prior to 2021, Mintel defined Millennials as the generation born between 1977 and 1994.

Findings in this Report can be supplemented by analysis presented in Mintel’s Marketing to Millennials –US, 2021; Marketing to Black Millennials – US, 2021; and other Reports in Mintel’s Multicultural and Lifestyles libraries.

COVID-19: market context

Consumer research for this Report was fielded in April 2021, and the analysis was written in June 2021. Thus, the COVID-19 pandemic has influenced the context of this Report.

The first COVID-19 case was confirmed in the US in January 2020. It was declared a global health pandemic and national emergency in early March 2020. Across the US, various stay-at-home orders were put in place in Spring 2020, and non-essential businesses and school districts closed or shifted to remote operations. The remainder of 2020 saw rolling orders, as states and local governments relaxed and reinforced guidelines according to the spread of the virus in each region.

Vaccine roll-out began in December, 2020 and has continued throughout 2021. Mintel anticipates business operations in the US will remain in a state of flux through 2021 as vaccines are administered and social distancing restrictions and capacity limitations are relaxed. The rapid spread of the Delta variant may result in increased restrictions in some areas of the country.

Economic and other assumptions

Mintel’s economic assumptions are based on forecasts released by the CBO on July 1, 2021. The CBO expects US real GDP to increase 6.7% for the year (vs the 3.5% negative annual growth for 2020). The CBO projects the unemployment rate to average 5.5% for the year, down from earlier projections of 8.4% and in contrast to the 8.1% average rate for 2020.

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