hispanic millennial project - wave 1 research preview
DESCRIPTION
The Hispanic Millennial Project is an innovative research initiative focused on U.S. Hispanic millennials. Our research looks at Hispanic millennials in comparison to non- Hispanic millennials as well as their older Hispanic (35+) counterparts. The Hispanic Millennial Project will tackle segmentation, points of tension, healthcare behavior, digital motivations and introduce new ways to think about Hispanic millennials that will be compelling to every brand, marketer. The Hispanic Millennial Project is a joint research study developed by cross-cultural advertising agency Sensis and leading market research firm ThinkNow Research.TRANSCRIPT
Hispanic Millennial Project Wave 1 Research Preview
Hispanicize 2014
2014 April 2,
2 Overview
• Introduction • Why Hispanic Millennials • The Hispanic Millennial Project Overview • Comparing Hispanic Millennials • Emerging Themes & Insights • What’s Next
Introduction
4
BACKGROUND • Advertising & digital agency • 43 employees • 12 million in revenue (2013) • 16 years in business • Independent, minority-owned • Offices in L.A. , DC, & Atlanta
CAPABILITIES • Research & Analytics • Strategic Planning • Media Planning & Buying • Creative Development • Digital Marketing • Mobile & Website Development • Hispanic, African-American, Asian Marketing
5 ThinkNow Research
Online Panel Over 30,000 respondents to recruit from Nationally-representative per census Unique recruitment model that encompasses online and offline recruitment methods such as Spanish-language television advertising
Research Fortune 500 clients Over 30 years of research experience specifically in the Hispanic market Only Hispanic market research company that owns & operates an in-house panel
Experts in Hispanic Market Research
ThinkNow Research provides innovative online market research solutions for companies looking to understand the U.S. Hispanic consumer. We specialize in researching the U.S. Hispanic demographic and other hard-to-reach consumers in order to deliver high quality research to our clients that bear actionable and meaningful results.
Why Hispanic Millennials?
7 Hispanic Population by Generation
0%
4%
17%
20%
25%
33%
0% 5% 10% 15% 20% 25% 30% 35%
(Hispanic)Greatest Generation
Silent Generation (Hispanic)
Baby Boomers (Hispanic)
Generation X (Hispanic)
Generation Y (Hispanic millennials)
Generation Z (Hispanic)
2013 Hispanic population by Generation
2013
Source: Geoscape, 2013-2018 State Hispanic Gen Y population American Marketscape DataStream™ 2013 Series
8 21% of all Millennials are Hispanic…
and will reach 23% by the year 2020
Source: Geoscape, American Marketspace, 2013
9 In key DMAs, Hispanic Millennials already represent the majority
Source: Geoscape, American Marketscape DataStream™ 2013 Series, Gen Y population/Hispanic Gen Y population
50%
28% 41%
25% 32% 31%
50%
33%
58%
32%
58%
35%
93%
18% 14%
0%10%20%30%40%50%60%70%80%90%
100%
% HISPANIC MILLENNIAL/TOTAL DMA MILLENNIAL POPULATION
% Hispani Millenia 2013l
10 Non-traditional markets will witness the fastest growth in the next 5 years
Source: Geoscape, 2013-2018 State Hispanic Gen Y population American Marketscape DataStream™ 2013 Series
24% 24% 24% 25%
25% 26% 26% 26% 26%
27% 29%
30% 30%
34% 34%
0% 5% 10% 15% 20% 25% 30% 35% 40%
MemphisLexington
AtlantaBend, OR
Minot-Bismarck-Dickinson (Williston)Salisbury
IndianapolisGreenville-Spartanburg-Asheville-Anderson
Myrtle Beach-FlorenceCharleston, SC
NashvilleWilmington
Greensboro-High Point-Winston SalemCharlotte
Raleigh-Durham (Fayetteville)
DMA/Hispanic millennial % change (2013-2018)
% CHANGE
11 Inevitably, they will become imperative to future household growth …
Source: Geoscape, American Marketscape DataStream™ 2013 Series, Household growth by ethnicity.2013-2018
6.14%
3.01%
16.79%
15.66%
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00%
Black Households
White Households
Asian Households
Hispanic Households
2013-2018
% GROWTH
12 Yet 44% of Hispanic Millennials are foreign-
born
Source: Experian Simmons, Bicultural Hispanics (18-34) Spring Full Year Study, 2013 Series
13 To dig deeper into segmentation, points
of tension, and difference between U.S.-born vs. foreign born.
Why another Hispanic millennial research study?
The Hispanic Millennial Project Overview
15 The Hispanic Millennial Project is a joint
research study developed by cross-cultural advertising agency Sensis and leading
market research firm ThinkNow Research.
16 Innovative research initiative on U.S.
Hispanic millennials
Designed to compare Hispanic millennials to non-Hispanic millennials as well as their older Hispanic (35+) counterparts
www.HispanicMillennialProject.com
Introducing the Hispanic Millennial Project
17 Research Methodology
18 Research Methodology
• ThinkNow Research conducted a nationwide online survey between March 14-19, 2014.
• A total of n=900 interviews were completed. Qualified respondents were segmented into one
of the following three groups:
*Non-Hispanic White does not include African-Americans, Asians and other ethnic groups
• Respondents in each group were weighted to match US Census for gender, age and US region.
Hispanic Millennials Hispanics 35+ Non-Hispanic White Millennials
Origin Self-identify as Hispanic origin
Self-identify as Hispanic origin
Self-identify as White Non-Hispanic origin*
Age 18 to 34 years of age 35 to 64 years of age 18 to 34 years of age
Base Size N=300 N=300 N=300
19 Acronyms
• “HM” = Hispanic Millennials • “FHM” = Foreign-born Hispanic Millennials • “UHM” = U.S. Born Hispanic Millennials
• “NHM” = non-Hispanic Millennials
• “H35+” = Hispanics 35-64 • “FH35+” = Foreign-born Hispanics 35-64 • “UH35+” = U.S. born Hispanics 35-64
Comparing Hispanic Millennials
21 Hispanic Millennials vs. Hispanic 35+
22 Hispanic Millennials vs. Hispanic 35+
23 Hispanic Millennials vs. Hispanic 35+
24 Hispanic Millennials vs. Non-Hispanic Millennials
25 Hispanic Millennials vs. Non-Hispanic Millennials
26 Hispanic Millennials vs. Non-Hispanic Millennials
27 Hispanic Millennials vs. Non-Hispanic Millennials
28 U.S. born Hispanic Millennials vs. Foreign-born Hispanic Millennials
29 U.S. Born vs. Foreign-born Hispanic Millennials
30 U.S. Born vs. Foreign-born Hispanic Millennials
Emerging Themes & Insights
32
Hispanic Millennials (particularly foreign-born) are much more
optimistic
33 63%
39%
60%
69%
41%
57%
HispanicMillennials
----------
Non-Hispanic
Millennials----------
HispanicMillennials
US Born----------
HispanicMillennials
ForeignBorn
----------
Hispanic35-64 US
Born----------
Hispanic35-64
ForeignBorn
----------
RESULTS OF TOP 2 BOX: Completely agree/Somewhat Agree
HM’s are more satisfied with the direction of US compared to NHMs How Satisfied are you with the Direction that the US is going in?
34
Hispanic Millennials continue to believe &
be driven by the American Dream
35 Hispanic Millennials believe much more in the “American dream” vs. Non Hispanics The “American Dream” is something I believe in
71%
55%
73% 65%
70% 68%
HispanicMillenials
----------
Non-Hispanic
Millenials----------
HispanicMillenialsUS Born----------
HispanicMillenials
ForeignBorn
----------
Hispanic35-64 US
Born----------
Hispanic35-64
ForeignBorn
----------
RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
36 For Hispanic Millennials, the American Dream is something they continually aspire to accomplish vs. Non-Hispanics The “American Dream” is something I strive for
67%
54%
66% 69% 64%
60%
HispanicMillenials
----------
Non-Hispanic
Millenials----------
HispanicMillenialsUS Born----------
HispanicMillenials
ForeignBorn
----------
Hispanic35-64 US
Born----------
Hispanic35-64
ForeignBorn
----------
RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
37
Hispanic Millennials have different perceptions of
success
38 Hispanic Millennials place significantly more importance on having children vs. Non Hispanic Millennials Having children is very important to me
71%
64%
70%
74%
70% 69%
HispanicMillenials
----------
Non-Hispanic
Millenials----------
HispanicMillenialsUS Born----------
HispanicMillenials
ForeignBorn
----------
Hispanic35-64 US
Born----------
Hispanic35-64
ForeignBorn
----------
RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
39 Hispanic Millennials place less importance on Marriage than their older Hispanic counterparts Marriage is very important to me
68%
64%
67%
70%
73%
71%
HispanicMillenials
----------
Non-Hispanic
Millenials----------
HispanicMillenialsUS Born----------
HispanicMillenials
ForeignBorn
----------
Hispanic35-64 US
Born----------
Hispanic35-64
ForeignBorn
----------
RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
40
Heightened importance of higher
education
41 Graduating from a 4-year college is a goal for 46% of Hispanics Millennials compared
to only 31% of non-Hispanic millennials
A Future Goal
42 Graduating from a 4-year college is a
strong indicator of success 50% of foreign-born Hispanic millennials
Indicator of Success
43 84% of Hispanic millennials plan on
getting a graduate degree compared to only 57% of non-Hispanic millennials
Plans for Advanced Degrees
44
Foreign Born Millennials - the
forgotten segment
45 Foreign-born Hispanic Millennials the most interested in fitting in with the mainstream I want to fit in with the mainstream
49%
30%
46%
56%
40%
55%
HispanicMillenials
----------
Non-Hispanic
Millenials----------
HispanicMillenialsUS Born----------
HispanicMillenials
ForeignBorn
----------
Hispanic35-64 US
Born----------
Hispanic35-64
ForeignBorn
----------
RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
46 Religion plays a significant role in the life of FHMs Religion plays a big role in my life
49%
41% 44%
62% 57%
53%
HispanicMillenials
----------
Non-Hispanic
Millenials----------
HispanicMillenialsUS Born----------
HispanicMillenials
ForeignBorn
----------
Hispanic35-64 US
Born----------
Hispanic35-64
ForeignBorn
----------
RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
47 Foreign-born Hispanic Millennials are still heavy Spanish language media consumers What language do you normally consume media? (TV, radio, internet, & magazines)
9% 9% 9%
3%
12%
40% 40% 39%
32%
43%
16%
19%
7%
31%
3%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
HispanicMillennials
----------
HispanicMillennials
US Born----------
HispanicMillennials
ForeignBorn
----------
Hispanic35-64 US
Born----------
Hispanic35-64
ForeignBorn
----------
Spanish only
Spanish mostly
Spanish and English equally
English mostly
English only
48
Re-evaluating the decision maker in the Hispanic household
49 Many Hispanic Millennials contribute majority or pay about half of the household costs How much, if at all, do you contribute to your household's finances?
8%
22%
14%
43%
14%
0
9%
27%
33%
30%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
I pay for all or the majority of the householdcosts (including rent/mortgage)
I pay for about half of the household costs(including rent/mortgage)
I pay less than half of the household expenses(including rent/mortgage)
I contribute minimally
I don't contribute financially
Non-HispanicMillennials----------HispanicMillennials----------
50
Hispanic Millennials: entrepreneurial at
heart
51 Owning your own business is a strong
indicator of success for 47% of Hispanic millennials compared to 23% of non-
Hispanic millennials
Strong Indicator of Success
52 For 57% of foreign-born Hispanic
millennials, owning a business is a future goal, compared to 45% of U.S. born
Hispanic millennials
A Future Goal
What’s Next
54 Next Phases of The Hispanic Millennial Project Upcoming Waves
• Healthcare - Behaviors, Motivations, and Attitudes
• Segmentation
• Banking / Financial Service Behavior
• Points of Tension
55 Sign-up for the full reports @
www.HispanicMillennialProject.com … and follow-us on Twitter @HispMillennial