Table of Contents
Overview
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- What you need to know
- Definition
Executive Summary
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- The issues
- Hispanic Millennials are confident about handling their present
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- Figure 1: Hispanic Millennials’ confidence with their ability to perform duties/tasks – Select duties/tasks, percent difference vs all US Millennials, April 2017
- Multiple content sources are changing the market landscape
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- Figure 2: Content and social media trends positively impacting Hispanic Millennials, percent difference vs all US Millennials, April 2017
- The opportunities
- Hispanic Millennials’ optimism about their future
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- Figure 3: Hispanic Millennials’ optimism about their future, percent difference vs all US Millennials, April 2017
- The social and content aspects of the internet
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- Figure 4: Hispanic Millennials’ “must-have” online services – Select services, percent difference vs all US Millennials, April 2017
- The need for trust
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- Figure 5: Hispanic Millennials’ sharing economy participation, by level of acculturation, April 2017
- If you find them, they can listen
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- Figure 6: Hispanic Millennials’ attitudes toward advertising, indexed to all Millennials, October 2015-November 2016
- What it means
Hispanic Millennials – What You Need to Know
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- More than one in four Hispanics are Millennials
- The majority of Hispanic Millennials speak both English and Spanish
- English is key for Hispanic Millennials to have access to better opportunities
- The earlier arrival of children is one reason why Hispanic Millennials are bicultural
Market Overview
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- Understanding Hispanic Millennials is key to understanding the direction of the Hispanic market
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- Figure 7: Population, by Hispanic origin and generation share, 2017
- Hispanic Millennials are not only bilingual, they are bicultural
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- Figure 8: Language Hispanic Millennials speak at home, October 2015-November 2016
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- Figure 9: Hispanics’ level of acculturation, by generation, April 2017
- Fluency in English is opening opportunities for Hispanic Millennials
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- Figure 10: Self-reported household income, by Hispanic origin and language spoken at home, October 2015-November 2016
- Hispanic Millennials have children earlier
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- Figure 11: Parent status, by Hispanic origin and age, October 2015-November 2016
Key Trends – What You Need to Know
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- Some differences worth knowing
- Hispanic Millennials have a strong sense of responsibility
- Hispanic Millennials seem more open to listening to what brands have to say
- Hispanic Millennials love to shop…
- …and much of that shopping may be with their children in mind
- Some challenges worth knowing
- Defining your target will dictate the best approach
- Simply put, standing out
- Context can challenge stereotypes
- Facing criticism
What’s Different?
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- Hispanic Millennials willing to make sacrifices for a better future
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- Figure 12: Hispanic Millennials’ attitudes toward work, indexed to all Millennials, October 2015-November 2016
- Hispanic Millennials more positive toward advertising
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- Figure 13: Hispanic Millennials’ attitudes toward advertising, indexed to all Millennials, October 2015-November 2016
- Hispanic Millennials enjoy shopping
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- Figure 14: Hispanic Millennials’ attitudes toward shopping, indexed to all Millennials, October 2015-November 2016
- The influence children have on Hispanic Millennials
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- Figure 15: Hispanic Millennials’ attitudes toward shopping for their children, indexed to all Millennials, October 2015-November 2016
What’s Challenging?
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- Defining how to approach the market
- Standing out in an increasingly complex market landscape
- Putting things in context
- Facing criticism
What’s Next?
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- More mobile
- More experience
The Consumer – What You Need to Know
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- Hispanic Millennials embrace social and content-related online services
- Social media enables Hispanics to connect with like-minded people
- Hispanic Millennials welcome multiple content sources
- Hispanic Millennials are cautious about participating in the sharing economy
- Hispanic Millennials’ confidence shines
- Hispanic Millennials more optimistic
Must-Have Online Personal Services
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- Hispanic Millennials value the social and content aspects of the internet
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- Figure 16: Hispanic Millennials’ “must-have” online services, percent difference vs all US Millennials, April 2017
- Hispanic Millennials are the first generation to embrace some online services
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- Figure 17: Hispanics’ “must-have” online services – Select services, by generation, April 2017
- Engagement with social apps is driven by unacculturated Hispanics
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- Figure 18: Hispanic Millennials’ “must-have” online services, by level of acculturation, April 2017
Opinions on Social Media
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- Hispanic Millennials recognize that social media is addicting
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- Figure 19: Hispanic Millennials’ opinions on social media, percent difference vs all US Millennials, April 2017
- Stark differences in social media perceptions when comparing Hispanic Millennials vs older Hispanics
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- Figure 20: Hispanics’ opinions on social media, by generation, April 2017
- Unacculturated Hispanic Millennials’ focus on the positives; acculturated ones are more skeptical
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- Figure 21: Hispanic Millennials’ attitudes toward getting to know people on social media, by level of acculturation, April 2017
- Unacculturated Hispanic Millennials more hesitant about what is new
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- Figure 22: Hispanic Millennials’ attitudes toward exposure of people, information, and brands on social media, by level of acculturation, April 2017
- Less-affluent Hispanic Millennials more likely to consider social media useful for their careers
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- Figure 23: Hispanic Millennials’ attitudes toward career prospects using social media, by household income, April 2017
Perceptions of Trends
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- Hispanic Millennials embrace the availability of multiple content sources
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- Figure 24: Content and social media trends positively impacting Hispanic Millennials, percent difference vs all US Millennials, April 2017
- With the arrival of children, priorities change
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- Figure 25: Content and social media trends positively impacting Hispanic Millennials, by parental status, April 2017
- Hispanic Millennials’ reaction to social trends is modest
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- Figure 26: Social trends positively impacting Hispanic Millennials, percent difference vs all US Millennials, April 2017
- Hispanic Millennials more likely to value flexibility at work
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- Figure 27: Social trends positively impacting Hispanics, by generation, April 2017
- More-affluent Hispanic Millennials embrace trends that allow them to take control of their lives
- A note about greater inclusion of minority groups
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- Figure 28: Social trends positively impacting Hispanic Millennials, by household income, April 2017
Sharing Economy Participation
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- Hispanic Millennials’ participation on sharing economy is consistent with all US Millennials
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- Figure 29: Hispanic Millennials’ sharing economy participation, percent difference vs all US Millennials, April 2017
- Hispanic Millennials don’t stand out for their participation in the sharing economy
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- Figure 30: Hispanics’ sharing economy participation, by generation, April 2017
- Trust is key for Hispanic Millennials to participate in the sharing economy
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- Figure 31: Hispanic Millennials’ sharing economy participation, by level of acculturation, April 2017
Self-confidence
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- Hispanic Millennials are confident about their abilities
- Communicating effectively with their kids
- Being themselves in a professional environment
- Maintaining personal health
- Handling their own personal finances
- Personally handling their general home maintenance
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- Figure 32: Hispanic Millennials’ confidence with their ability to perform duties/tasks, percent difference vs all US Millennials, April 2017
- Yet, for some tasks their confidence still pales when compared to Gen X Hispanics
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- Figure 33: Hispanics’ confidence with their ability to perform duties/tasks, by generation, April 2017
- Figure 34: Hispanic Millennials’ confidence with their ability to perform duties/tasks – Select duties/tasks, by parent status, April 2017
- Hispanic Millennials’ confidence reflects division of labor at home
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- Figure 35: Hispanic Millennials’ confidence with their ability to perform duties/tasks – Select duties/tasks, by gender, April 2017
Optimism toward Life
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- Hispanic Millennials more optimistic about things they feel they can control
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- Figure 36: Hispanic Millennials’ optimism about their future, percent difference vs all US Millennials, April 2017
- Hispanic Millennials are more optimistic than other Hispanic generations
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- Figure 37: Hispanics’ optimism about their future, by generation, April 2017
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- Figure 38: Hispanic Millennials’ optimism about their future – Personal factors, by level of acculturation, April 2017
- More-affluent Hispanic Millennials more optimistic about factors they can’t control
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- Figure 39: Hispanics’ optimism about their future – External factors, by level of acculturation, April 2017
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Terms
- A note on acculturation
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