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Hispanic Millennial Project - Wave 1 Research Preview

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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 …

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.

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  • 1. Hispanic Millennial Project Wave 1 Research Preview Hispanicize 2014 2014April 2,
  • 2. 2Overview • Introduction • Why Hispanic Millennials • The Hispanic Millennial Project Overview • Comparing Hispanic Millennials • Emerging Themes & Insights • What’s Next
  • 3. Introduction
  • 4. 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. 5ThinkNow 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.
  • 6. Why Hispanic Millennials?
  • 7. 7Hispanic 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. 8 21% of all Millennials are Hispanic… and will reach 23% by the year 2020 Source: Geoscape, American Marketspace, 2013
  • 9. 9In 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. 10Non-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% Memphis Lexington Atlanta Bend, OR Minot-Bismarck-Dickinson (Williston) Salisbury Indianapolis Greenville-Spartanburg-Asheville-Anderson Myrtle Beach-Florence Charleston, SC Nashville Wilmington Greensboro-High Point-Winston Salem Charlotte Raleigh-Durham (Fayetteville) DMA/Hispanic millennial % change (2013-2018) % CHANGE
  • 11. 11Inevitably, 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. 12 Yet 44% of Hispanic Millennials are foreign- born Source: Experian Simmons, Bicultural Hispanics (18-34) Spring Full Year Study, 2013 Series
  • 13. 13 To dig deeper into segmentation, points of tension, and difference between U.S.-born vs. foreign born. Why another Hispanic millennial research study?
  • 14. The Hispanic Millennial Project Overview
  • 15. 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. 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. 17 Research Methodology
  • 18. 18Research 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. 19Acronyms • “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
  • 20. Comparing Hispanic Millennials
  • 21. 21 Hispanic Millennials vs. Hispanic 35+
  • 22. 22Hispanic Millennials vs. Hispanic 35+
  • 23. 23Hispanic Millennials vs. Hispanic 35+
  • 24. 24 Hispanic Millennials vs. Non-Hispanic Millennials
  • 25. 25Hispanic Millennials vs. Non-Hispanic Millennials
  • 26. 26Hispanic Millennials vs. Non-Hispanic Millennials
  • 27. 27Hispanic Millennials vs. Non-Hispanic Millennials
  • 28. 28 U.S. born Hispanic Millennials vs. Foreign-born Hispanic Millennials
  • 29. 29U.S. Born vs. Foreign-born Hispanic Millennials
  • 30. 30U.S. Born vs. Foreign-born Hispanic Millennials
  • 31. Emerging Themes & Insights
  • 32. 32 Hispanic Millennials (particularly foreign- born) are much more optimistic
  • 33. 33 63% 39% 60% 69% 41% 57% Hispanic Millennials ---------- Non- Hispanic Millennials ---------- Hispanic Millennials US Born ---------- Hispanic Millennials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- 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. 34 Hispanic Millennials continue to believe & be driven by the American Dream
  • 35. 35Hispanic 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% Hispanic Millenials ---------- Non- Hispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
  • 36. 36For 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% Hispanic Millenials ---------- Non- Hispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
  • 37. 37 Hispanic Millennials have different perceptions of success
  • 38. 38Hispanic 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% Hispanic Millenials ---------- Non- Hispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
  • 39. 39Hispanic Millennials place less importance on Marriage than their older Hispanic counterparts Marriage is very important to me 68% 64% 67% 70% 73% 71% Hispanic Millenials ---------- Non- Hispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
  • 40. 40 Heightened importance of higher education
  • 41. 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. 42 Graduating from a 4-year college is a strong indicator of success 50% of foreign-born Hispanic millennials Indicator of Success
  • 43. 43 84% of Hispanic millennials plan on getting a graduate degree compared to only 57% of non-Hispanic millennials Plans for Advanced Degrees
  • 44. 44 Foreign Born Millennials - the forgotten segment
  • 45. 45Foreign-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% Hispanic Millenials ---------- Non- Hispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
  • 46. 46Religion plays a significant role in the life of FHMs Religion plays a big role in my life 49% 41% 44% 62% 57% 53% Hispanic Millenials ---------- Non- Hispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat
  • 47. 47Foreign-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% Hispanic Millennials ---------- Hispanic Millennials US Born ---------- Hispanic Millennials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- Spanish only Spanish mostly Spanish and English equally English mostly English only
  • 48. 48 Re-evaluating the decision maker in the Hispanic household
  • 49. 49Many 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 household costs (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- Hispanic Millennials ---------- Hispanic Millennials ----------
  • 50. 50 Hispanic Millennials: entrepreneurial at heart
  • 51. 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. 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
  • 53. What’s Next
  • 54. 54Next Phases of The Hispanic Millennial Project Upcoming Waves • Healthcare - Behaviors, Motivations, and Attitudes • Segmentation • Banking / Financial Service Behavior • Points of Tension
  • 55. 55 Sign-up for the full reports @ www.HispanicMillennialProject.com … and follow-us on Twitter @HispMillennial

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