Marketing to Hispanic Millennials - US - 2021

OVERVIEW
What you need to know
Key issues covered in this Report
Definition
COVID-19: market context
Economic and other assumptions
EXECUTIVE SUMMARY 
Top takeaways 
Market overview 
Hispanic Millennials have positive attitudes toward marketing 
Impact of COVID-19 on Hispanic Millennials
Figure 1: Short-, medium- and long-term impact of COVID-19 on Hispanic Millennials, July 2021
Opportunities 
Speak Español
Figure 2: Attitudes toward non-traditional marketing initiatives – any agree, by language preference, 2021
Find Hispanic Millennials in traditional social media sites  
Figure 3: Social media platform associations, 2021
Explain social responsibility on the brand’s terms 
Figure 4: Corporate social responsibility, 2021
Help Hispanic Millennials get excited
Figure 5: Activities Hispanic Millennials would like more time for, 2021
HISPANIC MILLENNIALS – KEY TAKEAWAYS 
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 
One in four Hispanics are Millennials
Figure 6: Population by Hispanic origin and generation, 2021
Figure 7: Distribution of generations by race and Hispanic origin, 2021
Younger Millennials prefer English; older are split
Figure 8: Language Hispanics speak at home, by age, 2019-20
Figure 9: Hispanics’ language preference, by age, 2019- 20
Hispanic Millennials are parents
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
Impact of COVID-19 on Hispanic Millennials
Immediate impact (2020)
Short term (2021)
Recovery (2022-25)
Hispanic Millennials’ household income lags
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
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
Figure 16: Home purchase intent – next 12 months, Hispanics vs all US consumers, by age, 2019-20
Figure 17: Interior and exterior paint – last 12 months, Hispanic Millennials  vs all US Millennials, by homeowners vs renters, 2019-20
Figure 18: Cat and dog ownership, Hispanic Millennials  vs all US Millennials, by homeowners vs renters, 2019- 20
COMPANIES AND BRANDS – KEY TAKEAWAYS 
Brands use different themes to reach Hispanic Millennials 
The “next normal” offers opportunities on multiple fronts
COMPETITIVE STRATEGIES
Extend my brand: Netflix and Apple
Return to Experts: Verizon – Built by people like you
Figure 19: Verizon Twitter post, 2021
Help Me Help Myself: Rocket Mortgage by Quicken Loans 
Figure 20: Quicken Loans GIF creative for Rocket Mortgage, 2021
Giving Back: Unilever
Figure 21: Unilever creative, 2021
Figure 22: Unilever Every Day U Does Good, 2021
MARKET OPPORTUNITIES 
Mintel Global Trend Drivers
Figure 23: Mintel Global Trend Drivers
Experiences: leverage them
Figure 24: Attitudes toward experiences – any describe me, by generations, 2021
Wellbeing: older Hispanics take it more seriously
Figure 25: Attitudes toward wellbeing – any describe me, by generations, 2021
Identity: heritage vs individuality
THE CONSUMER – KEY TAKEAWAYS 
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
Marketers vs habit
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
Figure 28: Attitudes toward purchases out of habit – any agree, by presence of children in the household, 2021
Spanish-dominant Hispanics embrace advertising
Figure 29: Attitudes toward non-traditional marketing initiatives – any agree, by language preference, 2021
Most Hispanic Millennials see value in non-traditional marketing initiatives
Figure 30: Attitudes toward non-traditional marketing initiatives – any agree, by language preference, 2021
MARKETING ATTITUDINAL SEGMENTS
There are four types of marketing mindsets
Hispanic Millennials have positive attitudes toward marketing
Figure 31: Hispanic marketing and shopping attitudinal segments, 2021
Marketing Accepters (28%)
Figure 32: Profile of Marketing Accepters, 2021
Habit Accepters (26%)
Figure 33: Profile of Habit Accepters, 2021
Marketing Deniers (23%)
Figure 34: Profile of Marketing Deniers, 2021
Habit Deniers (23%)
Figure 35: Profile of Marketing Accepters, 2021
LOYALTY DRIVERS
It is critical to contextualize quality
Figure 36: Loyalty drivers, 2021
Figure 37: TURF Analysis – Loyalty drivers, 2021
Figure 38: Loyalty drivers, by generations, 2021
Hispanic Millennials are pragmatic: emotional factors have less weight
Figure 39: Loyalty drivers – emotional attributes, by language preference, 2021
Hispanic Millennials are value-oriented: convenience and attractiveness aren’t indispensable
Figure 40: Loyalty drivers – emotional attributes, by household income, 2021
AD SOURCES PERCEIVED AS RELEVANT
Online video advertising is gaining traction
Figure 41: Ad sources perceived as relevant, 2021 vs 2019
Younger Millennials drive structural changes to the ad landscape
Figure 42: Ad sources perceived as relevant, by generations, 2021
Regardless of ad source, Spanish should be on the table
Figure 43: Ad sources perceived as relevant, by language preference, 2021
SOCIAL MEDIA
Hispanic Millennials gravitate toward traditional social media platforms
Figure 44: Hispanics’ social media usage – daily, by generations, 2021
Hispanic Millennials don’t agree on what makes social media platforms stand out
Figure 45: Social media platform associations, 2021
CORPORATE SOCIAL RESPONSIBILITY
Hispanic Millennials are open to activism
Figure 46: Attitudes toward boycotting brands, by generations – any agree, 2021
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
Figure 48: Corporate social responsibility, 2021
Figure 49: Corporate social responsibility, by generations, 2021
Figure 50: Corporate social responsibility, by marketing attitudinal segments, 2021
Spanish-dominant Hispanics are more likely to idealize the social role of corporations
Figure 51: Corporate social responsibility, by language preference, 2021
WHAT HISPANIC MILLENNIALS WANT MORE TIME FOR
Most Hispanic Millennials are going through the motions
Figure 52: Activities Hispanic Millennials would like more time for, 2021
Figure 53: Activities Hispanics would like more time for, by generations, 2021
Specific circumstances dictate some needs
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
Data sources
Consumer survey data
Abbreviations and terms
Abbreviations
Terms
APPENDIX – THE CONSUMER 
Figure 56: Table – TURF Analysis – Loyalty drivers, 2021
Figure 57: Millennials’ home improvement purchases – last 12 months, Hispanics vs all US consumers, by homeowners vs renters, 2019-20