2021
9
US Hispanics: Digital Trends and Impact of COVID-19 One Year Later Market Report 2021
2021-04-14T04:04:34+01:00
OX1045131
3695
136578
[{"name":"Hispanic Consumers","url":"https:\/\/store.mintel.com\/industries\/demographics\/hispanics"},{"name":"Technology","url":"https:\/\/store.mintel.com\/industries\/technology"}]
Report
en_GB
“The COVID-19 pandemic expanded the base of Hispanics relying on technology more than ever before, creating opportunities for increasing engagement and electronic products upgrades. Hispanic Millennials lead the way embracing…

US Hispanics: Digital Trends and Impact of COVID-19 One Year Later Market Report 2021

£ 3,695 (Excl.Tax)

Report Summary

“The COVID-19 pandemic expanded the base of Hispanics relying on technology more than ever before, creating opportunities for increasing engagement and electronic products upgrades. Hispanic Millennials lead the way embracing tech innovation, but older Hispanics should follow soon as they are learning to get the most out of their current devices and are excited about embracing technology in their lives.”

Juan Ruiz, Director of Hispanic Insights

This report will look at the following areas:

  • The impact of COVID-19 on Hispanics’ approach to technology.
  • Hispanics’ differing attitudes toward technology and what it means for brands.
  • How Hispanics’ purchases of household electronics aim to elevate the entertainment experience for everyone in the household.
  • The confusion around 5G and its potential to impact satisfaction and smartphone upgrades.

Table of Contents

  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Definition
    • Market context
    • Economic and other assumptions
    • COVID-19: US context
  2. Executive Summary

    • Top takeaways
    • Market overview
    • Hispanics spent an estimated $64 billion on technology in 2020
    • Hispanics have the right demographics to fuel digital trends
    • Impact of COVID-19 on Hispanics and technology and communications
      • Figure 1: Short-, medium- and long-term impact of COVID-19 on Hispanics and technology and communications, March 2021
    • Opportunities and Challenges
    • Most Hispanics have positive attitudes toward technology
      • Figure 2: Hispanic digital attitudes segments, January 2021
    • Confusion about the reach of 5G may hinder potential upgrades
      • Figure 3: Hispanics’ 5G smartphone ownership and interest, indexed to all, January 2021
    • Get the most out of Hispanics for family experiences
      • Figure 4: Home electronics ownership – select devices, by household size, January 2021
    • Get the most out of Hispanics’ need for “me” time
      • Figure 5: Personal electronics ownership – select devices, by household size, January 2021
    • Use apps to create a stronger bond
      • Figure 6: Types of apps Hispanics use, January 2021
  3. The Market – Key Takeaways

    • Population characteristics point to a significant Hispanic opportunity
    • $64 billion is the size of the prize
    • COVID-19 prompted older Hispanics to discover the power of their devices
    • Hispanics’ need to be value-oriented when shopping for tech
  4. The Hispanic Opportunity

    • Hispanics have the right demographics to fuel digital trends
      • Figure 7: US population, by race and Hispanic origin, 2016-26
      • Figure 8: Number of US households, by race and Hispanic origin of householder, 2010 and 2020
      • Figure 9: Hispanic share of the US population, by age, 2021
      • Figure 10: Average number of people per US household, by race and Hispanic origin, 2020
      • Figure 11: US households with related children under 18 in the household, by race and Hispanic origin of householder, 2020
  5. Market Value Indicators

    • Hispanics spent an estimated $64 billion on technology and communications
      • Figure 12: Total US Hispanic expenditures on technology and communications, at current prices, 2015-20 (est)
    • Impact of COVID-19 on Hispanics and technology and communications
      • Figure 13: Short-, medium- and long-term impact of COVID-19 on Hispanics and technology and communications, March 2021
    • Immediate impact
    • Short term
    • Recovery
  6. Market Factors

    • Hispanics’ discretionary spending hindered
      • Figure 14: Median US household income, by race and Hispanic origin of householder, 2019
      • Figure 15: US household income distribution, by race and Hispanic origin of householder, 2019
      • Figure 16: US homeownership rate, by Hispanic origin of householder, 2009-19
    • Market factors prompt Hispanics to search for value
    • Challenges persist despite improving employment
      • Figure 17: Seasonally adjusted unemployment, total US vs Hispanics, January 2007-January 2021
      • Figure 18: Consumer Sentiment Index, January 2007-February 2021
  7. Companies and Brands – Key Takeaways

    • Mobile network providers look beyond network quality
    • Electronics retailers rely on promotions to appeal to Hispanics
    • Brand strategies need tweaks to resonate among Hispanics
  8. Competitive Strategies

    • Mobile network providers highlight added value
    • Electronics retailers attract traffic via promotions
      • Figure 19: Retailers shopped for electronics, by race and Hispanic origin, indexed to all, January 2019
  9. Market Opportunities

    • Global Trend Drivers influence Hispanics’ approach to digital trends
      • Figure 20: Mintel Trend Drivers and Pillars – Technology, Identity and Value
    • Focus on the impact rather than on the innovation
    • 5G promises speed; what else?
    • Explain what the category is about
    • Make Hispanics feel special
    • Communicate value proactively
  10. The Consumer – Key Takeaways

    • COVID-19 shaped Hispanics’ tech dependency in unexpected ways
    • Attitudinal factors influence Hispanics’ approach to technology
    • Experience matters for home electronics ownership
    • Technology Embracers drive Hispanics’ higher purchase intent
    • Opportunities for accessories are significant
    • Some Hispanics are confusing 5G service with 5G devices
    • Hispanics are satisfied with their internet and mobile services
    • Hispanics’ youth drives their social media use
    • Hispanics use a variety of apps
  11. Attitudinal Changes due to COVID-19

    • Growing tech dependency due to COVID-19 comes with fine print
      • Figure 21: Changes in behavior due to COVID-19, indexed to all, January 2021
      • Figure 22: Changes in behavior due to COVID-19, by digital attitudes segments, January 2021
      • Figure 23: Changes in behavior due to COVID-19, by gender and age, January 2021
      • Figure 24: Changes in behavior due to COVID-19, by household income, January 2021
      • Figure 25: Changes in behavior due to COVID-19 – purchases of devices and internet service upgrades, by parental status and age of children in the household, January 2021
  12. Digital Trends Attitudinal Segmentation

    • There are four ways Hispanics approach technology
      • Figure 26: Hispanic digital attitudes segments, January 2021
    • Tech Embracers (29%)
      • Figure 27: Profile of Tech Embracers, January 2021
    • Pragmatic Tech Embracers (29%)
      • Figure 28: Profile of Pragmatic Tech Embracers, January 2021
    • Passive Tech Users (18%)
      • Figure 29: Profile of Passive Tech Users, January 2021
    • Dissatisfied Tech Users (24%)
      • Figure 30: Profile of Dissatisfied Tech Users, January 2021
  13. Hardware – Home Entertainment Product Ownership

    • Content consumption drives Hispanics’ home electronics ownership
      • Figure 31: Home electronics ownership, indexed to all, January 2021
      • Figure 32: Home electronics ownership, by digital attitudes segments, January 2021
      • Figure 33: Home electronics ownership, by gender and age, January 2021
      • Figure 34: Home electronics ownership, by household income, January 2021
    • Is there are market for digital voice assistants?
      • Figure 35: Hispanics’ attitudes toward digital voice assistants, by digital attitudes segments, January 2021
  14. Hardware – Home Entertainment and Electronics Purchase Intent

    • Hispanics exhibit higher purchase intent across the board
      • Figure 36: Home electronics purchase intent – next 6 months, indexed to all, January 2021
      • Figure 37: Home electronics purchase intent – next 6 months, by digital attitudes Segments, January 2021
  15. Hardware – Personal Electronics Ownership

    • Hispanics focus on covering the basics
      • Figure 38: Personal electronics ownership, indexed to all, January 2021
      • Figure 39: Personal electronics ownership, by digital attitudes segments, January 2021
      • Figure 40: Personal electronics ownership, by gender and age, January 2021
  16. Spotlight on Smartphones and Wearable Tech

    • Hispanic Millennials can become advocates for new technology
      • Figure 41: Hispanics’ attitudes toward smartphones and wearable tech, January 2021
      • Figure 42: Hispanics’ attitudes toward brand and price in technology, by gender and age, January 2021
    • Smartphone brands are as good the service provider
      • Figure 43: Hispanics’ smartphone brand owned, indexed to all, January 2021
      • Figure 44: Hispanics’ smartphone brand owned, by digital attitudes segments, January 2021
      • Figure 45: Hispanics’ smartphone brand owned, by gender and age, January 2021
    • Some Hispanics are confusing 5G service with 5G devices
      • Figure 46: Hispanics’ 5G smartphone ownership and interest, indexed to all, January 2021
  17. Communications – Internet and Mobile Services

    • Most Hispanics are satisfied with the services they get
      • Figure 47: Hispanics’ attitudes toward services, January 2021
      • Figure 48: Hispanics’ attitudes toward services, by digital attitudes segments, January 2021
  18. Communications – Social Media

    • Hispanics are avid social media users
      • Figure 49: Hispanics’ social media use – daily, indexed to all, January 2021
      • Figure 50: Hispanics’ social media use – daily, by age, January 2021
      • Figure 51: Hispanics’ attitudes toward text groups and social media posts, January 2021
      • Figure 52: Hispanics’ attitudes toward text groups and social media posts, by digital attitudes segments, January 2021
      • Figure 53: Hispanics’ attitudes toward text groups and social media posts, by digital attitudes segments, January 2021
  19. Spotlight on Apps

    • Hispanics gravitate toward social media and shopping apps
      • Figure 54: Types of apps Hispanics use, January 2021
      • Figure 55: Types of apps Hispanics use, by digital attitudes segments, January 2021
      • Figure 56: Types of apps Hispanics use, by gender and age, January 2021
  20. Appendix – Data Sources and Abbreviations

    • Data sources
    • Market data
    • Consumer survey data
    • Abbreviations and terms
    • Abbreviations
    • Terms
  21. Appendix – Mintel Trend Drivers

      • Figure 57: Mintel Trend Drivers and Pillars

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This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

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