There are more than 21 million Latino millennials in the U.S., who make up 21 percent of the total millennial U.S. population. The Pew Hispanic Center predicts 80 percent of the U.S. millennial population growth over the next years will be accounted to Latinos. Below are key characteristics of this ever-growing segment.
- They listen to messages received on social media, ignore those from other channels
Millennial Latinos are interested in messages they receive via social media. Contrarily, they avoid messages that could reach them on mass channels, according to the Hispanic Millennial Project. Millennial Latinos and white millennials lead self-reported social media engagement use. Almost 70 percent say they login to social media networks every day and spend more than an hour there.
- Larger pockets than their parents, but still a thrifty segment
Millennial Latino buying power often surpasses that of older Latino adults, which could be a product of their strong value for higher education. As opposed to only 23 percent of non-Latino millennials who say they value education, 42 percent of Latino millennials believe attaining a degree is an indicator of success, according to the Hispanic Millennial Project.
Regarding consumer habits, special offers and sales make them feel they’re spending their money in a smart way. Price largely influences how they make purchases, according to Prosper Insights and Analytics.
- Some markets are more millennial than others and therefore more Latino, too.
A quarter of the Los Angeles population is comprised of millennials, and half of them are Latino, according to Nielsen.
Mainstream retailers have taken note of the needs and desires of Latino millennials and are responding with options that appeal to these young consumers. Altogether the millennial segment is welcoming of other cultures impacting the traditionally perceived image of the U.S. with more than 70 percent of millennials saying they appreciate the influence of other cultures in the “American way of life.”
- Almost 40 percent speak both English and Spanish
The majority of Latino millennials are bilingual, according to Nielsen. This is something to consider when finding the right media solution to reach this culturally rich segment. According to a 2014 partner study by Nielsen, Univision and Starcom MediaVest, millennial Latinos prefer English-language content, but Spanish-language advertisement connects with them when the content is “emotional in nature.”
This is not to say all content should be uncomfortably sprinkled with Spanish where it’s not fitting. According to the Hispanic Millennial Project, 92 percent report better responses to English-language marketing in general.
- Nine out of 10 millennial Latinos own a mobile device with video capability
More so than other millennials, almost half of millennial Latinos say they prefer streaming shows online because certain shows they like are only available there. They’re also consuming video on mobile, with more than 60 percent opting for their cellphone to having broadband internet, cable TV or a home landline.
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