Table of Contents
Executive Summary
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- Top takeaways
- Market overview
- Hispanic Millennials have positive attitudes toward marketing
- Impact of COVID-19 on Hispanic Millennials
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- Figure 1: Short-, medium- and long-term impact of COVID-19 on Hispanic Millennials, July 2021
- Opportunities
- Speak Español
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- Figure 2: Attitudes toward non-traditional marketing initiatives – any agree, by language preference, 2021
- Find Hispanic Millennials in traditional social media sites
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- Figure 3: Social media platform associations, 2021
- Explain social responsibility on the brand’s terms
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- Figure 4: Corporate social responsibility, 2021
- Help Hispanic Millennials get excited
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- Figure 5: Activities Hispanic Millennials would like more time for, 2021
Hispanic Millennials – Key Takeaways
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- Hispanic Millennials can’t be ignored
- Bilingualism and children define Hispanic Millennials’ households
- Hispanic Millennials are turning the page on COVID-19
- Hispanic Millennials’ household income lags
Hispanic Millennials by the Numbers
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- One in four Hispanics are Millennials
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- Figure 6: Population by Hispanic origin and generation, 2021
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- Figure 7: Distribution of generations by race and Hispanic origin, 2021
- Younger Millennials prefer English; older are split
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- Figure 8: Language Hispanics speak at home, by age, 2019-20
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- Figure 9: Hispanics’ language preference, by age, 2019- 20
- Hispanic Millennials are parents
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- Figure 10: Households with related children under 18 in the household, by race and Hispanic origin of householder, 2020
- Figure 11: Parental status, by generations and Hispanic origin, 2021
Market Factors
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- Impact of COVID-19 on Hispanic Millennials
- Immediate impact (2020)
- Short term (2021)
- Recovery (2022-25)
- Hispanic Millennials’ household income lags
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- Figure 12: Median household income indexed to total households, by race and Hispanic origin of householder, 2019
- Figure 13: Household income distribution, Hispanic Millennials vs all US Millennials, by language spoken at home, 2019-20
- Hispanic Millennials underindex for owning assets that build wealth
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- Figure 14: Homeownership rate, by Hispanic origin of householder, 2009-19
- Figure 15: Home ownership, Hispanics vs all US consumers, by age, 2019-2020
- Hispanic Millennials’ dream of owning a home is intact
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- Figure 16: Home purchase intent – next 12 months, Hispanics vs all US consumers, by age, 2019-20
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- Figure 17: Interior and exterior paint – last 12 months, Hispanic Millennials vs all US Millennials, by homeowners vs renters, 2019-20
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- Figure 18: Cat and dog ownership, Hispanic Millennials vs all US Millennials, by homeowners vs renters, 2019- 20
Companies and Brands – Key Takeaways
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- Brands use different themes to reach Hispanic Millennials
- The “next normal” offers opportunities on multiple fronts
Competitive Strategies
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- Extend my brand: Netflix and Apple
- Return to Experts: Verizon – Built by people like you
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- Figure 19: Verizon Twitter post, 2021
- Help Me Help Myself: Rocket Mortgage by Quicken Loans
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- Figure 20: Quicken Loans GIF creative for Rocket Mortgage, 2021
- Giving Back: Unilever
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- Figure 21: Unilever creative, 2021
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- Figure 22: Unilever Every Day U Does Good, 2021
Market Opportunities
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- Mintel Global Trend Drivers
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- Figure 23: Mintel Global Trend Drivers
- Experiences: leverage them
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- Figure 24: Attitudes toward experiences – any describe me, by generations, 2021
- Wellbeing: older Hispanics take it more seriously
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- Figure 25: Attitudes toward wellbeing – any describe me, by generations, 2021
- Identity: heritage vs individuality
The Consumer – Key Takeaways
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- Hispanic Millennials’ positive attitudes toward marketing are an antidote to habit
- Hispanic Millennials are receptive to brands’ marketing efforts
- Hispanic Millennials see quality as a critical loyalty driver
- Online video advertising is gaining traction
- Hispanic Millennials gravitate toward traditional social media platforms
- Hispanic Millennials are less assertive in defining corporate social responsibility
- Hispanic Millennials wouldn’t know what to do with extra time
Attitudes toward Marketing
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- Marketers vs habit
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- Figure 26: Attitudes toward marketing – any agree, 2021
- Figure 27: Attitudes toward marketing – any agree, by generations, 2021
- Habit plays a significant role in Hispanic Millennials’ purchase decisions
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- Figure 28: Attitudes toward purchases out of habit – any agree, by presence of children in the household, 2021
- Spanish-dominant Hispanics embrace advertising
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- Figure 29: Attitudes toward non-traditional marketing initiatives – any agree, by language preference, 2021
- Most Hispanic Millennials see value in non-traditional marketing initiatives
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- Figure 30: Attitudes toward non-traditional marketing initiatives – any agree, by language preference, 2021
Marketing Attitudinal Segments
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- There are four types of marketing mindsets
- Hispanic Millennials have positive attitudes toward marketing
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- Figure 31: Hispanic marketing and shopping attitudinal segments, 2021
- Marketing Accepters (28%)
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- Figure 32: Profile of Marketing Accepters, 2021
- Habit Accepters (26%)
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- Figure 33: Profile of Habit Accepters, 2021
- Marketing Deniers (23%)
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- Figure 34: Profile of Marketing Deniers, 2021
- Habit Deniers (23%)
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- Figure 35: Profile of Marketing Accepters, 2021
Loyalty Drivers
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- It is critical to contextualize quality
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- Figure 36: Loyalty drivers, 2021
- Figure 37: TURF Analysis – Loyalty drivers, 2021
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- Figure 38: Loyalty drivers, by generations, 2021
- Hispanic Millennials are pragmatic: emotional factors have less weight
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- Figure 39: Loyalty drivers – emotional attributes, by language preference, 2021
- Hispanic Millennials are value-oriented: convenience and attractiveness aren’t indispensable
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- Figure 40: Loyalty drivers – emotional attributes, by household income, 2021
Ad Sources Perceived as Relevant
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- Online video advertising is gaining traction
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- Figure 41: Ad sources perceived as relevant, 2021 vs 2019
- Younger Millennials drive structural changes to the ad landscape
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- Figure 42: Ad sources perceived as relevant, by generations, 2021
- Regardless of ad source, Spanish should be on the table
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- Figure 43: Ad sources perceived as relevant, by language preference, 2021
Social Media
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- Hispanic Millennials gravitate toward traditional social media platforms
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- Figure 44: Hispanics’ social media usage – daily, by generations, 2021
- Hispanic Millennials don’t agree on what makes social media platforms stand out
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- Figure 45: Social media platform associations, 2021
Corporate Social Responsibility
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- Hispanic Millennials are open to activism
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- Figure 46: Attitudes toward boycotting brands, by generations – any agree, 2021
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- Figure 47: Attitudes toward boycotting brands – any agree, by household income and country of birth (US vs other), 2021
- Hispanic Millennials’ perception of corporate social responsibility is less rigid
- Green initiatives are not a priority
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- Figure 48: Corporate social responsibility, 2021
- Figure 49: Corporate social responsibility, by generations, 2021
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- Figure 50: Corporate social responsibility, by marketing attitudinal segments, 2021
- Spanish-dominant Hispanics are more likely to idealize the social role of corporations
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- Figure 51: Corporate social responsibility, by language preference, 2021
What Hispanic Millennials Want More Time For
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- Most Hispanic Millennials are going through the motions
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- Figure 52: Activities Hispanic Millennials would like more time for, 2021
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- Figure 53: Activities Hispanics would like more time for, by generations, 2021
- Specific circumstances dictate some needs
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- Figure 54: Select activities Hispanic Millennials would like more time for, by language preference, 2021
- Figure 55: Select activities Hispanic Millennials would like more time for, by language preference, 2021
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
Appendix – The Consumer
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- Figure 56: Table – TURF Analysis – Loyalty drivers, 2021
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- Figure 57: Millennials’ home improvement purchases – last 12 months, Hispanics vs all US consumers, by homeowners vs renters, 2019-20
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