More and more data is surfacing about the Hispanic millennials population. It's one of the fastest growing, so why wouldn't marketers target them and want to know what makes these young Hispanics tick?
Let's get to know Hispanic millennials. First of all, their age range is 18-29, they are the first generation that is predominantly native born, and while they prefer English over Spanish, millennials still very much embrace their Hispanic culture.
"It is clearly the most 'American' of Hispanic market segments," writes Stuart Feil at Adweek. "Yet it has not renounced Hispanic culture. Rather, it has melded it with American youth culture.
"This generation embodies what many people see as the new mainstream for Hispanic marketing," Feil continues. "They are a generation that embraces English as their primary language, that is less 'traditional' in its relationships, and that sees technology and the Internet as a way to embrace the communal aspects of their heritage and get an advantage in the mainstream world."
Hispanics will account for more than 80 percent of the growth in the population of 18- to 29-year-olds over the next few years, according to HispanicMarketing.com. Moreover, among the 50.7 million Hispanics in the U.S., nearly two-thirds (65 percent), or 33 million, self-identify as being of Mexican origin, according the Pew Hispanic Center.
Puerto Ricans came in as the second-largest Hispanic origin group, making up only 9 percent total U.S. Hispanic population.
Marketing researchers found that in comparing millennials to their parents, these young Hispanics want to make their marks in the world.
"Hispanic millennials are abandoning class hierarchies and embracing working-class moral standards," according to HispanicMarketing.com. "They want to become heroes, healers, rescuers as well as small-business owners."
Insight Tr3s recently released an analysis of Experian Simmons "Winter 2011 NHCS Adult Survey," which dissected facts about Hispanic millennials. In particular, the survey explored social media and technology, personal finance, employment and education.
Here are some key findings from Insight Tr3s about Hispanic millennials:
Social Media and Technology
Females are more active on social media than Hispanic males, and are more likely to post/comment on social media sites (33 percent females, 25 percent males). Females more frequently receive requests to connect on social media sites (31 percent females, 26 percent males), females access social media sites from different devices (28 percent females, 23 percent males), and click on links or items posted by others (29 percent females, 22 percent males).
When it comes to gadgets, however, the Insight Tr3s' survey found that males are more into gadgets. Forty-two percent of Hispanic males "love to buy new gadgets and appliances," compared with 32 percent of females. Males are also bigger video game fans -- 28 percent of males find video games "more entertaining than television," compared with 9 percent of females.
When it comes to education, females are more eagerly hitting the books. Females (especially 18-24 year olds) are attaining higher levels of education -- 41 percent of females have had at least some college education, compared with 28 percent of males.
College-age females are 50 percent more likely to be full-time college students than males in the same age group.
Plans for the Next Year
Females (ages 18-24) have more ambitious plans for the next year, according to the Insight Tr3s survey. Females are more likely than males of the same age to plan to enroll in or return to college (22 percent females, 16 percent males), to change from their current job to a better one (22 percent females, 15 percent males), and to graduate from school (16 percent females, 10 percent males).
To view all of the data produced about Hispanic millennials via Insight Tr3s' research, click here.
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