2024
9
US Marketing to Hispanic Gen Zs Market Report 2024
2024-06-07T15:03:21+01:00
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Hispanic Gen Zs, born between 1997 and 2010, account for about 14.7 million of the 59.5 million Gen Zs in the US (about one quarter of the generation). While their…

US Marketing to Hispanic Gen Zs Market Report 2024

£ 3,695 (Excl.Tax)

Report Summary

Stay ahead of the curve and future-proof your business with Mintel’s US Marketing to Hispanic Gen Zs Market Report 2024. Our full report is packed with consumer-led market intelligence, the latest Gen Z market research, trends, and consumer behaviors affecting your business. 

Below, we’ve handpicked the key insights analyzed in the full report and summarized the core topics.

Key Topics Featured in Full Report

  • Hispanic Gen Z characteristics and cultural context.
  • Aspects of home life, family dynamics and work and school.
  • How they spend their free time, attitudes toward social media and spending priorities.
  • Stressors, concerns and values, and future outlook.
  • Perceptions of self and others from Gen Z and older generations.
  • Perspectives of brands related to representation and authenticity.
  • Attitudinal segments and characteristics of Hispanic Gen Z adults.
  • Hispanic Gen Z teens’ home life, use of and attitudes towards social media, entertainment, socializing and more.

Marketing to Hispanic Gen Zs

  • Hispanic Gen Zs statistics: Hispanic Gen Zers are born between 1997 and 2010, account for about 14.7 million of the 59.5 million Gen Zs in the US (about one quarter of the generation).
  • Hispanic statistics: Hispanic consumers’ buying power forecast to climb to $2.8 trillion in 2026.

While their discretionary spending is more focused on appearances and experiences, there is a clear opportunity to support them in managing budgets to achieve long-term goals like starting a family and homeownership, particularly as their financial situation and thinking about their future are the top sources of stress. While they are anxious about what lies ahead, there remains a strong sense of optimism, illustrating the nuanced nature of this generation.

Hispanic Gen Zs’ influence will continue to grow as the full generation enters adulthood and their spending power increases. It is crucial for companies to adapt their marketing strategies and products to meet their needs. This generation values authenticity, diversity, inclusivity and fun. Companies that align with these values will be more likely to earn Gen Zs loyalty.

Readers of this report may also be interested in our US Marketing to Gen Z Market Report 2024, or our range of Gen Z Market Research.

Hispanic Gen Z Market Definitions

This Report examines Gen Z attitudes and behaviors from a marketing standpoint. Gen Z consumers are defined as being born 1997-2010. In 2024, members of Gen Z are between the ages of 14 and 27. For the purposes of this Report, Mintel has further defined Gen Z consumer segments as the following:

  • Gen Z teens: those aged 14-17
  • Gen Z adults: those aged 18-27

Similar to the US Census, Mintel defines Hispanics as those who report being of Hispanic or Latino origin or descent, such as Latin American, Mexican, Puerto Rican or Cuban. There are over 63.5 million Hispanics in the US in 2023, representing 18% of the total US population.

“Hispanic” entails anyone who has origins from a Spanish-speaking country, and “Latino/Latina” denotes individuals who have origins in a Latin American country, regardless of whether it is a Spanish-speaking country. Latinx and Latine are gender-neutral terms, while the former is mostly used by English speakers, the latter is the Spanish equivalent. This Report covers all consumers, and terms are used interchangeably throughout to reflect the diversity of this demographic.

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Meet the Expert

Stefanie Kundakjian develops multicultural insights focused on Hispanic consumers. She has over five years of experience carrying out custom research on diverse demographics in the Americas, Europe, and Eurasia. She holds an MA in International Affairs from the American University of Paris and a BA in Spanish and History from Grinnell College.

Hispanic Gen Zs are in a transitory period. Their dynamism points to the importance of understanding diverse segments and speaking to what they value.

Stefanie Kundakjian, Research Analyst

Stefanie Kundakjian
Research Analyst

Table of Contents

  1. Executive Summary

    • What you need to know
    • Consumer trends: key takeaways
    • Market Predictions
    • Opportunities
  2. Market Dynamics

    • Market context
    • Who are Hispanic Gen Zs and what has shaped them?
    • Hispanic consumers’ buying power forecast to climb to $2.8 trillion in 2026
    • Hispanic consumers’ earnings growth outpaces the average
    • Graph 1: median household income (% annual change), by Hispanic population vs all, 2012-22
    • Country of origin plays a significant role in determining the purchasing power and preferences of Hispanic Gen Z consumers
    • Graph 2: median household net worth, by Hispanic country of origin, 2020
    • Hispanic Gen Z by the numbers
    • Hispanics account for nearly one quarter of Gen Z; their influence and spending power is growing
    • Graph 3: distribution of US generations, by Hispanic origin, 2024
    • US population, by Hispanic origin and generation, 2023
    • Language and cultural characteristics
    • Hispanic Gen Zs will respond to brands that use Spanglish (a mix of Spanish and English)
    • Graph 4: Hispanic consumers’ preferred language – English vs Spanish, by Gen Z vs all, 2024
    • Gen Zs buck against “no sabo” stigmas, while seeking cultural connection
    • Speak to specific groups with in-depth knowledge about their diverse cultural characteristics and preferences
    • Graph 5: largest Hispanic origin groups, 2022
    • Graph 6: increase in population, by Hispanic origin group, 2010-21
    • Represent Hispanic Gen Z’s diverse multicultural and multilingual home life
    • Graph 7: Hispanic Gen Z other languages spoken at home – not including English or Spanish, 2024
    • Uplift all Hispanic stories by acknowledging growing multiracial population
    • Graph 8: Hispanic multiracial population, 2010 vs 2022
    • Afro-Latino creators teach a master class on representation
    • Tap into content creators organically showcasing their family life and cultural roots for authentic messaging
    • Hispanic Gen Zs prefer the terms “Hispanic” and “Latino/Latina”
    • Graph 9: preferred terms Hispanics use to describe themselves, by generation, 2024
  3. Consumer Insights

    • Consumer fast facts
    • Consumer fast facts: details
    • Consumer fast facts: details, continued
    • Home life
    • Most Hispanic Gen Z adults live with parents and are seeking independence
    • Graph 10: household composition, by Hispanic Gen Z vs all Gen Z, 2024
    • While the share of Hispanic Gen Z homeowners vs renters looks similar, looking more deeply, many of these “owners” are still in parents’ homes
    • Graph 11: housing situation, by Hispanic Gen Z vs all Gen Z, 2024
    • Support social Hispanic Gen Z men with independent spaces
    • Graph 12: lives with parents – Hispanic Gen Z, by gender, 2024
    • Challenge the conventional path to homeownership with innovative offerings that allow Hispanic Gen Z to participate
    • Cater to Hispanic Gen Zs’ parents to reach Gen Z
    • Graph 13: parental influence – frequency of talking to a parent, by Hispanic Gen Z vs all Gen Z, 2024
    • Customer service support is bridge to independence for single Hispanic Gen Zs
    • Graph 14: parental influence – frequency of talking to a parent – Hispanic Gen Z, by marriage status, 2024
    • Celebrate Hispanic Gen Z pet owners, especially women
    • Graph 15: lives with pets – Hispanic Gen Z, by gender, 2024
    • Social strategies make authentic connections with Hispanic Gen Z pet owners
    • Family dynamics
    • Entering adulthood and parenthood: avoid monolithic approach in marketing to Hispanic Gen Z
    • Financial stability is the goal for many Hispanic Gen Zs who are putting off starting a family until this is achieved
    • Graph 16: attitudes toward having kids and current responsibilities – Gen Z, by Hispanic vs all, 2024
    • Hispanic Gen Z parents have goals, brands can support attainment
    • Graph 17: “I have a clear vision of where I want to be in the next five years” (any agree) – Hispanic Gen Z, by parental status, 2024
    • Edward Jones leans into education as a way to reduce financial stress
    • Work and school
    • Expect greater spending power among Hispanic Gen Z, who reflect all Gen Z in education participation
    • Graph 18: student status, by Hispanic Gen Z vs all Gen Z, 2024
    • Ensure Hispanic Gen Z students feel seen by understanding their lifestyles as students as well as workers
    • Graph 19: student and employment status, by Hispanic Gen Z vs all Gen Z, 2024
    • Hispanic Gen Zs are proudly forging their own educational paths
    • Help Hispanic Gen Z meet life challenges to complete their degrees
    • Free time and social media
    • Social media and gaming reach Hispanic Gen Zs; traditional media may be less impactful
    • Social media, gaming are great ways to reach Gen Z; traditional media may be less effective
    • Graph 20: most enjoyable activities (any rank 1-3)*, by Hispanic Gen Z and all Gen Z, 2024
    • Social media more of a destination, than a tool for interaction
    • Contribute the fun of social media, don’t detract from it
    • Graph 21: social media opinions, by Hispanic Gen Z and all Gen Z, 2024
    • Cement brand awareness with this young generation through educational content
    • Social media is a tool for entertainment and connection, however, negative effects are noticed
    • Graph 22: attitudes toward social media – Hispanic Gen Z, 2024
    • Hispanic Gen Zs’ reluctance to social media brand outreach calls for relatable, informative social strategies
    • Virtual can be just as important as IRL when it comes to socializing
    • Spending priorities
    • Top spending priorities concern outer appearance as well as experiences, highlights their appetite for affordable luxury
    • Graph 23: past year discretionary spending priorities (any rank 1-3)*, by Hispanic Gen Z and all adults, 2024
    • Target Hispanic Gen Z men for entertainment/gaming offerings
    • Graph 24: past year discretionary spending priorities – entertainment/gaming (any rank 1-3)* – Hispanic Gen Z, by gender, 2024
    • Guidance needed as Hispanic Gen Zs navigate financial strain
    • Graph 25: life circumstances and milestones, by Hispanic Gen Z and all Gen Z, 2024
    • Stressors and concerns
    • Ease Hispanic Gen Zs’ anxieties about their financial situation and concerns for their future
    • Graph 26: stressors (any rank 1-3)*, by Hispanic Gen Z and all Gen Z, 2024
    • Provide transparency, highlight relatable experiences to increase confidence
    • Stressors differ by gender calling for nuanced outreach
    • Graph 27: stressors (any rank 1-3)* – Hispanic Gen Z, by gender, 2024
    • Gen Z is burned out by balancing work, school and personal lives
    • Graph 28: attitudes toward busy lifestyles and burn-out (any agree), by Hispanic Gen Z and all Gen Z and gender, 2024
    • Both superficial and achievement-related stress reflect Hispanic Gen Zs’ lifestage and coming of age
    • Graph 29: stressors (any rank 1-3)* – Hispanic consumers, by generation, 2024
    • Employee mental and financial wellness support: Spotlight on Chipotle
    • Family is both a source of stress and support for Hispanic Gen Zs
    • Graph 30: attitudes toward family pressure (any agree), by Hispanic Gen Z and all Gen Z, 2024
    • Looking to the future
    • Demonstrate how offerings/services will help Hispanic Gen Zs succeed in life
    • Graph 31: attitudes towards the future (any agree), by Hispanic Gen Z and all Gen Z, 2024
    • Entrepreneurship interest is strong among Hispanic Gen Zs, room to empower women
    • Graph 32: interest in running a business, by Hispanic Gen Z and gender, 2024
    • Help Hispanic Gen Zs translate their positivity into reality
    • Graph 33: attitudes towards future (any agree) – Hispanic consumers, by generation, 2024
    • Perceptions of self and others
    • Tap into Hispanic Gen Zs’ worldview of others to speak from their perspective
    • Graph 34: Hispanic Gen Z perceptions of self and other generations, 2024
    • Poking fun at different generational stereotypes leads to relatability and common ground
    • Hispanic Gen Zs – like all Gen Zs – are putting pressure on themselves
    • Graph 35: attitudes toward comparing self to others (any agree), by Hispanic Gen Z and all Gen Z, 2024
    • Creating a sense of community can fill post-pandemic social gaps
    • Graph 36: attitudes toward self and social circles (any agree) – Hispanic Gen Z, by gender, 2024
    • Authenticity and representation
    • Hispanic Gen Zs want representation both externally and internally
    • Graph 37: Hispanic Gen Z perspectives of brands – and ability to identify representation, 2024
    • Graph 38: Hispanic Gen Z perspectives of brands – representative staff, 2024
    • Hispanic Gen Zs see strides in representation, yet there’s room to improve
    • Graph 39: Hispanic Gen Z perspectives of brands – stereotypes and representation in advertising, 2024
    • Large, national brands need to convince Hispanic Gen Zs – especially women – that their values are in alignment
    • Graph 40: Hispanic Gen Z perspectives of brands – small vs large businesses and value alignment, by gender, 2024
    • Hispanic Gen Z attitudinal segments and characteristics
    • Hispanic Gen Zs have strong individual identities, one-size fits marketing may not work
    • Graph 41: Hispanic Gen Z attitudinal segments, 2024
    • Apathetic Dependents (23%)
    • Next-Gen Advancement Seekers (25%)
    • Status Chasers (27%)
    • Resilient Realists (25%)
    • Next-Gen Advancement Seekers particularly enjoy spending time with their parents
    • Graph 42: most enjoyable activities “spending time with my parents” (any rank 1-3)*, by Hispanic Gen Z attitudinal segments, 2024
    • Help Status Chasers reconnect with friends and create new ones through online and offline meetups
    • Graph 43: attitudes towards social circles (any agree), by Hispanic Gen Z attitudinal segments, 2024
    • Engage purposefully with Resilient Realists through solutions to financial stressors
    • Graph 44: stressors “my financial situation” (any rank 1-3)*, by Hispanic Gen Z attitudinal segments, 2024
    • Apathetic Dependents least likely to care about what others think of them, engage playfully with this rebellious, lackadaisical segment
    • Graph 45: “I care about what others think of me” (any agree), by Hispanic Gen Z attitudinal segments, 2024
    • Zany, non-traditional marketing outreach can win Apathetic Dependents
    • Engage with Apathetic Dependents beyond representation
    • Graph 46: perspectives on brands – representative staff and ability to identify representation, by Hispanic Gen Z attitudinal segments, 2024
    • Hispanic Gen Z teens
    • Social strategies targeted toward Hispanic Gen Z teens call for a broad mix of channels
    • Graph 47: Gen Z teens daily social media use, by Hispanic origin and race, 2024
    • Focus on mom, siblings to guide Hispanic Gen Z teens
    • Graph 48: Gen Z teens household composition, by Hispanic origin and race, 2024
    • Leverage local cultural nuances, paying attention to multicultural influences/interactions, to speak to Hispanic teens
    • Graph 49: Gen Z teens attitudes towards traditions and culture (any agree), by Hispanic origin and race, 2024
    • Authentic cultural representation from brands is the expectation
    • Graph 50: Gen Z teens attitudes towards culture and tradition (any agree), by Hispanic origin and race, 2024
    • Video games, spending time with friends and family are Hispanic Gen Z teens’ favorite activities
    • Graph 51: Gen Z teens most enjoyable activities (up to five selected)*, by Hispanic origin and race, 2024
    • Gaming lounges are this generation of teen’s arcades
    • Hispanic Gen Z teens more likely to own tablets, points to nuances is use and impetus for initial purchasing
    • Graph 52: Gen Z teens ownership of devices and social media, by Hispanic origin and race, 2024
    • Hispanic Gen Z teens not immune to the comparison trap
    • Graph 53: Gen Z teen attitudes towards social media (any agree), by Hispanic origin, 2024
    • In-person, offline gatherings have the potential to attract Hispanic Gen Z teens
    • Gen Z teens feel pressure to meet parents’ expectations
    • Graph 54: Gen Z teens attitudes towards family and future (any agree), by Hispanic origin, 2024
    • Hispanic Gen Z teens have high expectations for themselves
    • Graph 55: attitudes towards education and future (any agree) – Hispanic Gen Z, by teens and adults, 2024
    • Empower Hispanic Gen Z teens’ identity through music, appearance and by supporting their dreams for the future
    • Graph 56: Gen Z teens expressions of identity (up to five selected)*, by Hispanic origin and race, 2024
  4. Marketing strategies

    • Marketing and advertising
    • IKEA partnered with authentic multicultural content creator to create an online and in-person marketing experience
    • Tinder reinvents matchmaking as a team effort with family and friends
    • Hispanic Gen Z is redefining adulthood, showcase their lived experiences in marketing materials
    • Ruffles’ campaign in Brazil encourages individuals to live authentically, challenging the notion that life must adhere to a set pattern
    • Opportunities
    • Leverage Hispanic Gen Z lifestage characteristics to create products and programs that fit their lifestyle needs
    • Draw Hispanic Gen Z in store and support independence with upskilling
    • Solo living present opportunities for partnerships
    • Living alone vlogs offer opportunities to highlight the necessary skills and products needed to live on one’s own
    • Working students may need more support to launch their careers: brands can create apprenticeships or paid internships opportunities
    • Spotlight on JPMorgan Chase and Accenture apprenticeship program
  5. Appendix

    • Market definition
    • Consumer research methodology
    • Generations
    • Abbreviations and terms

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