Millennials make up the next big consumer wave and they are very reliant on mobile devices. For many years, the Hispanic community was overlooked as a buying segment but now most businesses see how important their spending power is. The intersection of these two groups, Hispanic Millennials, are a growing subset that combines important attributes from their cultural and age groups to provide a lucrative audience for your business
● There are 21 million Hispanic Millennials (Age 18-34) in the US. The make up 20% of the total Millennial population
●40% of Hispanic Millennials consumer online media in both English and Spanish equally
● 36% consumer more online media in mostly English or English only, 25% consumers it in mostly Spanish or Spanish only
● Nearly 20% of Hispanic Millennials are interested in getting advertising messages on their mobile device. This compares to just 9% on non-Hispanic Millennials
● 77% OF Hispanic Millennials said that ads on their mobile device provided them with useful information about new products and services
●23% said they would likely purchase items they saw advertised on their mobile device
What This Means To You
Hispanic Millennials are a large consumer groups that may not be as hard to reach as prior Hispanic consumer groups who relied more on Spanish for information. The fact that Hispanic Millennials are heavy mobile users gives you the opportunity to but messages in the palm of their hand.
Prior research has also showed that Hispanics are more likely to use social networks than others. The combination of mobile and social media is a great bedrock to build loyalty programs on.
If your business is looking to maximize revenue from existing Hispanic shoppers or create awareness in the Hispanic community, mobile is a natural starting point. The platform allows you to direct messages though several means and gives mobile consumers the ability to share your messages with others. These peer to peer recommendations are very powerful. For more information on reaching target audiences, please contact:
Sources: eMarketer; ThinkNow; Experian