45% of 18-34 Hispanics are choosing to live at home longer, resulting in more multi-generational Hispanic households and a tighter circle of trust among family
Tr3s unveiled key findings from its comprehensive study, “Hispanic Adult Millennials Living the Next Normal: Age of Uncertainty.” The Tr3s study includes research from Viacom Inc.’s recent global study “The Next Normal: An Unprecedented Look at Millennials Worldwide” and delves into the key reasons shaping millennial impressions, memories and emotions that speak to the uncertainty of young adulthood in today’s world (the economy, natural disasters and terrorism are US Hispanic Millennials’ top three concerns). The study furthers the findings from Viacom’s global study by also looking at these broad themes within the daily lives of U.S. Hispanic Millennials 18-29, Generation X’ers 30-39, and their families. The results were presented by Nancy Tellet, SVP of Research for Viacom International Media Networks – The Americas at the annual AHAA Conference in Miami.
“Through this study, we further extended our deep understanding of young Hispanics and looked at how these young people are navigating adulthood in an era marked by uncertainty. Adults 18-34 today live in households often quite different from those in the recent past and this has implications for their life decisions – ranging from where (and with whom) to live, whether to marry, how to parent and what and how to buy things, from big ticket autos to supermarket sushi,” said Tellet.
According to the Tr3s study, the economy has contributed to delayed household formation for young adults, especially Hispanics 18-34, with 45% living with 1+ parent (Pew, 2011) and marriage in decline, down 29% 2007-2011 with HA 18-29 and down 12% with HA 30-39 (Simmons, 2012). The Tr3s study spotlights how delayed adulthood impacts families, relationships and adult responsibilities.
KEY FINDINGS FROM “HISPANIC ADULT MILLENNIALS LIVING THE NEXT NORMAL: AGE OF UNCERTAINTY”
ADULTHOOD MAKES LIFE AN EXERCISE IN RISK ASSESSMENT, YET HAPPINESS OUTWEIGHS STRESS
Life choices are run through both conscious and sub-conscious risk evaluation – from moving out or staying at home, getting married or just living together, buying both high ticket and everyday things. For all Hispanics 18-39, happiness is found within themselves and their core family relationships – they all lean on the comfort and support of their family. The younger 18-29s were uniquely likely to cite their families as “more hilarious and funny.”
CIRCLES OF TRUST ARE ALL ABOUT “TRUE BLOOD”
Trust circles have gotten smaller and include “me, my closest family, my kids and MAYBE my romantic partner.” Romantic relationships are high value, high risk yet risk is winning out, but right now their emotional needs are met “Finding someone worth leaving my parents for is tough”. The high trust relationship with their parents continues as young adults become parents with grandparents the #1 information source and the internet a distant #2 at 8%.
SPANISH IS STILL DOMINANT IN THE HOME
For those Hispanics 18-29 still living with their parents, 86% speak mostly Spanish in the home; even among those who have moved out, 78% speak mostly Spanish in the home. Spanish isn’t going away.
REINTERPRETED “EMERGING” ADULTHOOD FOR THOSE THAT LIVE AT HOME WITH A PARENT
Those who believe that “moving out and paying your own bills” equals adulthood are the ones who have already moved out. Those who still live at home see contributing to household bills, paying rent, doing their share of household work and even pursuing higher education as markers of adulthood.
BLING IS FOR XERS AND BOOMERS
Ostentatious displays of wealth are “OUT” and money as a protective talisman is “IN”. Money is for security, after all “anything can happen” and saving money helps their goal of moving out.
SEEKING BALANCE, ESPECIALLY BETWEEN TECH AND IRL (IN REAL LIFE)
They know they are addicted to their smartphones and seek balance with games such as phone stacking where all persons in a group put their phones in the center of the table and the 1st to look at their phone pays for drinks, dinner etc. Smartphones ranked #1 on their “Cool” list, and in-person socializing at #2.
SMART ‘RECESSIONISTA’ SHOPPING HOLDS EMOTIONAL CURRENCY
Hispanic Millennials read, research and marshal resources both new (Fatwallet & Shopkick) and traditional (flyers & direct mail) to get the best deals. However, convenience can hijack pragmatism in shopping and in food at times.
o A combination of national quantitative surveys and qualitative in-home/workshops (Los Angeles, New York and Dallas) were conducted from July thru October 2012 with a sample of over 1,070 respondents, building on Tr3s’s 13,369 young Hispanic adults surveyed to date. The sample included younger bilingual/bicultural 18-29, slightly older more foreign born/Spanish dominant 30-39 and a comparative sample of non-Hispanics 18-29 as well. In-homes included all family members regardless of age. Fieldwork and data processing was conducted by Tr3s, with accompanied data from Simmons, Motivo Insights/NGLC 2012 & Pew Hispanic Center.
o The study also includes key findings from Viacom’s global study “The Next Normal: An Unprecedented Look at Millennials Worldwide”. The global quantitative survey was conducted in June/July 2012 with a sample of more than 11,300 respondents: individuals aged 9-14 (last wave Millennials), ages 15-24, ages 25-30 (first wave Millennials). Fieldwork and data processing was carried out by GFK NOP MEDIA AND ENTERTAINMENT with IPSOS providing fieldwork support in Saudi Arabia with additional analysis based on 3,400 Millennials and 665 parents of Millennials in the U.S.; In addition, we were able to draw on qualitative explorations including content analysis, focus groups, online QualBoard discussions and interviews with generational experts.