US Hispanic Adult Millennials Living “The Next Normal”
Nancy Tellet, SVP of Research for our Americas cluster, presented the key findings of our recent study “Hispanic Adult Millennials Living the Next Normal: Age of Uncertainty” at the AHAA, “The voice of Hispanic marketing” conference in Miami.
The study looked at the different changes shaping US Hispanic Millennials 18-29, Generation X’ers 30-39, (and their families) impressions, memories, and emotions. Hispanics 18-39 saw life choices as risks to be evaluated.
Some Key Findings:
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%.
The Spanish language 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 who 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.
More information on US Hispanic Millennials can also be found on our insight Tr3s blog.