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Marketing to Hispanic Millennials - US - June 2018

"The Hispanic Millennial generation accounts for the largest share of the Hispanic population. Due to their significant influence on older and younger Hispanics, understanding Hispanic Millennials provide hints about the future direction of the Hispanic market as a whole.
- Juan Ruiz, Director of Hispanic Insights

This Report looks at the following areas:

  • Hispanic Millennials make a positive balance of their lives so far
  • Hispanic Millennials’ lives are not worry-free 
  • Innovating beyond the idea of family 
  • Making Hispanic Millennials the heroes of their stories 
  • Using social media to increase awareness

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • Overview
          • The issues
            • Hispanic Millennials make a positive balance of their lives so far
              • Figure 1: Hispanic Millennials’ satisfaction with different aspects of life, February 2018
            • Hispanic Millennials’ lives are not worry-free
              • Figure 2: Hispanic Millennials’ biggest financial challenges, February 2018
            • The opportunities
              • Innovating beyond the idea of family
                • Figure 3: Factors that make Hispanic Millennials unique, indexed to all, February 2018
              • Making Hispanic Millennials the heroes of their stories
                • Figure 4: Hispanic Millennials’ attitudes toward standing out or fitting in, by gender, level of acculturation, and household income, February 2018
              • Using social media to increase awareness
                • Figure 5: Hispanic Millennials’ attitudes toward social media, indexed to all, February 2018
              • What it means
              • The Market – What You Need to Know

                • Hispanics Millennials influence all Hispanics
                  • Hispanic Millennials are bilingual and bicultural
                    • English helps to level the field
                      • Children and Hispanic Millennials go hand in hand
                      • Market Factors

                        • Understanding Hispanic Millennials drives the direction of the Hispanic market
                          • Figure 6: Population, by Hispanic origin and generation share, 2018
                        • More than one in five Millennials are of Hispanic origin
                          • Figure 7: Distribution of generations, by race and Hispanic origin, 2018
                        • Hispanic Millennials are bilingual
                          • Figure 8: Language Hispanic Millennials speak at home, October 2016-November 2017
                          • Figure 9: Language Hispanic Millennials prefer to speak, October 2016-November 2017
                        • Hispanic Millennials are bicultural
                            • Figure 10: Hispanics’ level of acculturation, by generation, February 2016
                          • English is important to reach their full earnings potential
                            • Figure 11: Self-reported household income, by Hispanic origin and language preference, October 2016-November 2017
                          • Hispanic Millennials more likely to have children
                            • Figure 12: Parent status, by Hispanic origin and age, October 2016-November 2017
                        • Key Players – What You Need to Know

                          • There isn’t a recipe to appeal to Hispanic Millennials
                            • Negativity and political rhetoric can take its toll
                              • Hispanic Millennials continue looking ahead
                              • What’s Working?

                                • The right associations
                                  • Figure 13: New brands and styles at Walmart – Spanish-language commercial, March 2018
                                • The right experience
                                  • Figure 14: Hispanic Millennials’ attitudes toward shopping, indexed to all, February 2018
                                • The right brand
                                  • Figure 15: 2018 Toyota Camry: Thrill commercial, February 2018
                                  • Figure 16: 2018 Honda Fit Sport: Fun Surprises commercial, September 2017
                                  • Figure 17: Hispanic Millennials’ attitudes toward brands, indexed to all, February 2018
                                • The right soundtrack
                                  • Figure 18: Hispanic Millennials’ use of digital music services, indexed to all, October 2016-November 2017
                              • What’s Struggling?

                                • Level of Negativity is prompting Hispanic Millennials to question things
                                  • Figure 19: Hispanic Millennials’ beliefs about the US, indexed to all Millennials, February 2018
                                  • Figure 20: Hispanic Millennials’ perception of current level of negativity, by parental status, February 2018
                              • What’s Next?

                                • There is a need to slow things down
                                  • Figure 21: Hispanic Millennials’ future priorities, indexed to all Millennials, February 2018
                                • More opportunities in entertainment, dining out, and personal treats
                                  • Figure 22: Where extra money is spent, indexed to all Millennials, February 2018
                              • The Consumer – What You Need to Know

                                • Hispanic Millennials attribute their uniqueness to family
                                  • Hispanic Millennials see the glass half-full
                                    • Hispanics tend to prioritize more immediate goals
                                      • Keeping the status quo is not an option for Hispanic Millennials
                                        • Hispanic Millennials want both the blessing and responsibility of having children
                                        • What Makes Hispanic Millennials Unique?

                                            • Family yes, but there is more
                                              • Cultural traditions, faith, food, and language are secondary
                                                • Figure 23: Factors that make Hispanic Millennials unique, indexed to all, February 2018
                                                • Figure 24: Factors that make Hispanic Millennials unique, by parental status, February 2018
                                              • Families have significant influence in Hispanic Millennials’ decisions
                                                • Figure 25: Factors that make Hispanics unique, by generation, February 2018
                                            • Hispanic Millennials’ Satisfaction with Their Lives

                                                • Hispanic Millennials’ are satisfied with their lives
                                                  • Optimism and contentment are Hispanic qualities
                                                    • Contextualizing expectations makes a difference
                                                      • Figure 26: Hispanic Millennials’ satisfaction with different aspects of life, February 2018
                                                      • Figure 27: Difference of Hispanic Millennials’ and all Hispanics’ satisfaction in regards to different aspects of life, February 2018
                                                    • Thinking about family, children make it tangible
                                                      • Figure 28: Hispanic Millennials’ satisfaction with their family life, by key demographics, compared to all US Millennials, February 2018
                                                    • Thinking about earnings, expectations matter
                                                      • Figure 29: Hispanic Millennials’ satisfaction with their earnings, by key demographics, compared to all US Millennials, February 2018
                                                    • Thinking about health, there is no need to change
                                                      • Figure 30: Hispanic Millennials’ satisfaction with their health, by key demographics, compared to all US Millennials, February 2018
                                                  • Hispanic Millennials’ Financial Challenges

                                                      • Hispanic Millennials’ focus on short-term priorities may keep them unprepared
                                                        • Figure 31: Hispanic Millennials’ biggest financial challenges, February 2018
                                                      • Life stages define financial challenges
                                                        • Figure 32: Hispanics’ biggest financial challenges, by generation, February 2018
                                                      • The nature of financial challenges differs by level of acculturation
                                                          • Figure 33: Hispanic Millennials’ financial challenges, by level of acculturation, February 2018
                                                        • Hispanic Millennial renters are more likely to be cash strapped
                                                          • Figure 34: Hispanic Millennials’ financial challenges, by home owners vs renters, February 2018
                                                      • Hispanic Millennials and the Status Quo

                                                          • Hispanic Millennials don’t want to settle for average
                                                            • Figure 35: Hispanic Millennials’ attitudes toward life, indexed to all, February 2018
                                                          • Nothing ventured, nothing gained
                                                            • Figure 36: Hispanic Millennials’ attitudes toward taking risks, by gender, level of acculturation, and household income, February 2018
                                                          • Embracing who Hispanic Millennials are
                                                              • Figure 37: Hispanic Millennials’ attitudes toward standing out or fitting in, by gender, level of acculturation, and household income, February 2018
                                                            • Duality in Hispanic Millennials’ lives
                                                              • Figure 38: Hispanic Millennials’ attitudes toward keeping family traditions vs creating new traditions, by gender, level of acculturation, and household income, February 2018
                                                          • Hispanic Millennials’ Attitudes toward Children

                                                              • Children – A blessing that comes with responsibilities
                                                                • Figure 39: Hispanic Millennials’ attitudes toward having children, indexed to all, February 2018
                                                              • iGens feel a lack a support; Millennials find it
                                                                • Figure 40: Hispanics’ attitudes toward having children, by generation, February 2018
                                                              • More-acculturated Hispanic Millennials are more pragmatic about having children
                                                                • Figure 41: Hispanics’ attitudes toward having children, by level of acculturation, February 2018
                                                              • Raising children is more expensive for more affluent Hispanic Millennials
                                                                • Figure 42: Hispanics’ attitudes toward having children, by household income, February 2018
                                                            • Appendix – Data Sources and Abbreviations

                                                              • Data sources
                                                                • Consumer survey data
                                                                  • Abbreviations and terms
                                                                    • Abbreviations
                                                                      • Terms
                                                                        • A note about acculturation

                                                                        Marketing to Hispanic Millennials - US - June 2018

                                                                        US $4,395.00 (Excl.Tax)