Latino consumers continue to outpace the general market in technology use. This trend is driven primarily by the youth of this demographic. Nearly six in ten Hispanics are Millennials or younger, and Gen Z is the first majority-minority generation. These generations are digital natives and thrive on the mobile experience, which impacts how they interact with e-commerce, social media, and entertainment. More specifically, Hispanics over-index on e-commerce, especially among Hispanic Millennials, many of whom are bilingual, living in multigenerational households. They act as “digital sherpas,” interpreting the purchase experience for Spanish-dominant loved ones.
It’s no secret that traditional Spanish broadcast networks have been experiencing a steady loss of viewers in the U.S. year over year. Many factors are contributing to this decline including a slowing in immigration from Mexico. But, perhaps even more impactful is the fact that growth in the U.S. Hispanic market is primarily coming from U.S. born. However, our latest report, which focuses on the media habits of the Total Market, shows a significant increase in the number of Hispanic millennials streaming Spanish language content via OTT (over the top) services.
By now, many marketers have heard of the tremendous opportunities the United States. Hispanic consumer represents in terms of numbers and purchasing power. However, in the age of hypersegmentation and targeting, Millennials and bi-cultural Hispanics have risen to the top of marketer’s go-to Hispanic sub-segments. While most companies focus on this target, there is an untapped consumer segment that has serious growth potential, Hispanic business owners.
Education is often touted as a means of “balancing the playing field” and stimulating socio-economic mobility. However, lower educational attainment levels among most racial minorities in the U.S. have been the norm since college attendance expanded into the middle class following WWII. While college attendance has increased for Hispanics and African Americans in the past couple decades, it still trails that of non-Hispanic Whites.
Gen Z Shoppers Discover Brands Online But Purchase In-Store While Millennials still get the lion’s share of attention, Gen Z, the demographic cohort nipping at the heels of their older siblings, are beginning to take center stage. Known as the Plurals, Founders, or the iGeneration, Gen Z consumers may be setting their own rules, somewhat, but because of their age, still look to their parents and friends to make purchase decisions.
3 Ways To Connect With The New U.S. Latino As we begin celebrating Hispanic Heritage month at ThinkNow Research, recent Pew Hispanic data has us thinking about how the changing Hispanic demographic can be reached effectively through their heritage. Two lynchpins of the Hispanic marketing movement – non-acculturated Hispanics and Spanish language media – is going by the wayside. Pew Hispanic notes that net migration is down to new lows and speaking Spanish isn’t necessarily a defining characteristic of being Hispanic.
There is no question that sample in the market research industry has become a commodity. With over 5,000 panels targeting the U.S. demographic, CPIs continue to get driven down as supply is overabundant. Unfortunately, due to increased competition and the need to make razor-thin profit margins, quality in the sample industry has been compromised (as discussed in great lengths in many blog posts).
The issue of Spanish vs. English in marketing to US Hispanics is getting more complicated as the market matures. Mario Xavier Carrasco, managing partner of ThinkNow Research, spoke with eMarketer’s Lisa Barron about the importance of language and cultural relevance.
The Hispanic Millennial Project is a joint research study developed by cross-cultural advertising agency Sensis and market research firm ThinkNow Research. This study on Attitudes towards Health and Wellbeing captures five key themes about Hispanic Millennials:
Reflecting back on the 18-month Hispanic millennial project that had five waves (four new mini-waves are slated for the rest of 2015 and early 2016), I realized that we had tons of data that didn’t rise to prominence because there was just so much to be highlighted. As I dove into our most recent wave, Media/Technology/Digital Trends, I realized that there was an unexplored facet to this research, Spanish-language music.