Viant, a TIME Inc. technology company, released the first part of The Marketer’s Guide to Hispanic Millennials.
The report, which analyzed a population of roughly two million Hispanic Millennial consumers and thirteen million non-Hispanic Millennial consumers, produced some interesting behavioral findings including brand preferences, social and mobile habits, auto buying trends, and the people that influence them to purchase.
Hispanic Millennials Have Lower Household Incomes, but Great Purchasing Power
They are 27% less likely to have an income greater than $125k, and fall slightly behind non-Hispanic Millennials in all other income categories. One way brands can cater to Hispanic Millennials is by offering coupons and discounts. 40% of Millennials report that finding coupons and comparing prices is the primary way they use their mobile devices while grocery shopping.
Embrace Social Media
Nearly 50% of Hispanic shoppers reported they had either discussed a brand online with others or used a brand’s hashtag in social messaging compared to 17% of non-Hispanic shoppers. Given Hispanic Millennials’ affinity for social media, brands who want to connect with this audience must build up the linguistic and cultural knowledge to effectively communicate across social networks.
Family is Paramount
When it comes to family, Hispanic Millennials are 35% more likely than non-Hispanic Millennials to have children under 18 living in their household. Additionally, based on their TV viewing preferences and magazine subscriptions, we know they are more likely to consume family-related content than non-Hispanic Millennials. Companies who focus on the importance of family can find new ways to connect with this audience.
Brands that focus on the importance of family can unlock new ways to connect with this audience. There are several layers of data for marketers to analyze from Hispanic audiences. Deterministic data from Hispanic audiences typically has a strong secondary layer, a form of “data resonance,” that shows how an individual who may not seem like a direct target for a product or service, is actually a strong influencer of broader purchasing decisions within their family and across generations.
To download report CLICK HERE.