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April 2, 2014 Hispanic Millennial Project Wave 1 Research Preview Hispanicize 2014 Overview • • • • • • Introduction Why Hispanic Millennials The Hispanic Millennial Project Overview Comparing Hispanic Millennials Emerging Themes & Insights What’s Next 2 3 Jose R. Villa Mario X. Carrasco President / Senior Strategist Sensis Partner ThinkNow Research @jrvilla @marioxcarrasco /in/JoseVilla /in/MarioXCarrasco ThinkMulticultural.com SensisBureau.com ThinkNowResearch.com/blog Introduction 5 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 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 Spanishlanguage television advertising 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 BACKGROUND CAPABILITIES • Advertising & digital agency • 43 employees • 12 million in revenue (2013) • 16 years in business • Independent, minorityowned • Offices in L.A. , DC, & Atlanta • Research & Analytics • Strategic Planning • Media Planning & Buying • Creative Development • Digital Marketing • Mobile & Website Development • Hispanic, AfricanAmerican, Asian Marketing Why Hispanic Millennials? 8 Hispanic Population by Generation 2013 Hispanic population by Generation 33% Generation Z (Hispanic) 25% Generation Y (Hispanic millennials) 20% Generation X (Hispanic) 17% Baby Boomers (Hispanic) 4% Silent Generation (Hispanic) (Hispanic)Greatest Generation 0% 0% 5% 10% 15% 2013 Source: Geoscape, 2013-2018 State Hispanic Gen Y population American Marketscape DataStream™ 2013 Series 20% 25% 30% 35% 9 21% of all Millennials are Hispanic… and will reach 23% by the year 2020 Source: Geoscape, American Marketspace, 2013 10 In key DMAs, Hispanic Millennials already represent the majority % HISPANIC MILLENNIAL/TOTAL DMA MILLENNIAL POPULATION % Hispani Millenia 2013l 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 93% 58% 50% 50% 41% 28% 25% 32% 31% Source: Geoscape, American Marketscape DataStream™ 2013 Series, Gen Y population/Hispanic Gen Y population 33% 58% 32% 35% 18% 14% 11 Non-traditional markets will witness the fastest growth in the next 5 years DMA/Hispanic millennial % change (2013-2018) Raleigh-Durham (Fayetteville) 34% Charlotte 34% Greensboro-High Point-Winston Salem 30% Wilmington 30% Nashville 29% Charleston, SC 27% Myrtle Beach-Florence 26% Greenville-Spartanburg-Asheville-Anderson 26% Indianapolis 26% Salisbury 26% Minot-Bismarck-Dickinson (Williston) 25% Bend, OR 25% Atlanta 24% Lexington 24% Memphis 24% 0% 5% 10% 15% % CHANGE Source: Geoscape, 2013-2018 State Hispanic Gen Y population American Marketscape DataStream™ 2013 Series 20% 25% 30% 35% 40% 12 Inevitably, they will become imperative to future household growth … 2013-2018 % GROWTH Hispanic Households 15.66% Asian Households 16.79% White Households 3.01% Black Households 6.14% 0.00% Source: Geoscape, American Marketscape DataStream™ 2013 Series, Household growth by ethnicity.2013-2018 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 13 Yet 44% of Hispanic Millennials are foreign-born Source: Experian Simmons, Bicultural Hispanics (18-34) Spring Full Year Study, 2013 Series 14 Why another Hispanic millennial research study? To dig deeper into segmentation, points of tension, and difference between U.S.-born vs. foreign born. The Hispanic Millennial Project Overview 16 The Hispanic Millennial Project is a joint research study developed by cross-cultural advertising agency Sensis and leading market research firm ThinkNow Research. 17 Introducing the Hispanic Millennial Project 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.co m 18 Research Methodology 19 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: 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 *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. 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 20 Comparing Hispanic Millennials 22 Hispanic Millennials vs. Hispanic 35+ Hispanic Millennials vs. Hispanic 35+ 23 Hispanic Millennials vs. Hispanic 35+ 24 25 Hispanic Millennials vs. Non-Hispanic Millennials 26 Hispanic Millennials vs. Non-Hispanic Millennials 27 Hispanic Millennials vs. Non-Hispanic Millennials 28 Hispanic Millennials vs. Non-Hispanic Millennials 29 U.S. born Hispanic Millennials vs. Foreign-born Hispanic Millennials U.S. Born vs. Foreign-born Hispanic Millennials 30 U.S. Born vs. Foreign-born Hispanic Millennials 31 Emerging Themes & Insights 33 Hispanic Millennials (particularly foreignborn) are much more optimistic 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? RESULTS OF TOP 2 BOX: Completely agree/Somewhat Agree 69% 63% 60% 57% 41% 39% Hispanic Millennials ---------- NonHispanic Millennials ---------- Hispanic Millennials US Born ---------- Hispanic Millennials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- 34 35 Hispanic Millennials continue to believe & be driven by the American Dream 36 Hispanic Millennials believe much more in the “American dream” vs. Non Hispanics The “American Dream” is something I believe in RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat 73% 71% 65% 70% 68% Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- 55% Hispanic Millenials ---------- NonHispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- 37 For Hispanic Millennials, the American Dream is something they continually aspire to accomplish vs. Non-Hispanics The “American Dream” is something I strive for RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat 67% 66% 69% 64% 60% 54% Hispanic Millenials ---------- NonHispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- 38 Hispanic Millennials have different perceptions of success 39 Hispanic Millennials place significantly more importance on having children vs. Non Hispanic Millennials Having children is very important to me RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat 74% 71% 70% 70% 69% 64% Hispanic Millenials ---------- NonHispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- 40 Hispanic Millennials place less importance on Marriage than their older Hispanic counterparts Marriage is very important to me RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat 73% 71% 70% 68% 67% 64% Hispanic Millenials ---------- NonHispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- 41 Heightened importance of higher education 42 A Future Goal Graduating from a 4-year college is a goal for 46% of Hispanics Millennials compared to only 31% of non-Hispanic millennials 43 Indicator of Success Graduating from a 4-year college is a strong indicator of success 50% of foreign-born Hispanic millennials 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 RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat 56% 49% 55% 46% 40% 30% Hispanic Millenials ---------- NonHispanic Millenials ---------- Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- 46 Religion plays a significant role in the life of FHMs Religion plays a big role in my life RESULTS OF TOP 2 BOX: Completely Agree/Agree Somewhat 62% 57% 49% 41% Hispanic Millenials ---------- NonHispanic Millenials ---------- 53% 44% Hispanic Millenials US Born ---------- Hispanic Millenials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- 47 Foreign-born Hispanic Millennials are still heavy Spanish language media consumers What language do you normally consume media? (TV, radio, internet, & magazines) 50% 43% 45% 40% 40% 40% 39% 35% 32% 31% 30% Spanish only 25% Spanish mostly 19% 20% Spanish and English equally 16% English mostly 15% 10% English only 12% 9% 9% 9% 7% 3% 5% 3% 0% Hispanic Millennials ---------- Hispanic Millennials US Born ---------- Hispanic Millennials Foreign Born ---------- Hispanic 35-64 US Born ---------- Hispanic 35-64 Foreign Born ---------- 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? 30% I don't contribute financially 14% 33% I contribute minimally 43% I pay less than half of the household expenses (including rent/mortgage) 27% 14% I pay for about half of the household costs (including rent/mortgage) I pay for all or the majority of the household costs (including rent/mortgage) Hispanic Millennials ---------- 9% 22% 0 8% 0% 5% 10% 15% NonHispanic Millennials ---------- 20% 25% 30% 35% 40% 45% 50 Hispanic Millennials: entrepreneurial at heart 51 Strong Indicator of Success Owning your own business is a strong indicator of success for 47% of Hispanic millennials compared to 23% of non-Hispanic millennials 52 A Future Goal For 57% of foreign-born Hispanic millennials, owning a business is a future goal, compared to 45% of U.S. born Hispanic millennials What’s Next Next Phases of our Research Multiple Waves • Healthcare - Behaviors, Motivations, and Attitudes • Segmentation • Banking / Financial Service Behavior • Points of Tension 54 55 Sign-up for the full reports @ www.HispanicMillennialProject.com … and follow-us on Twitter @HispMillennial 56 Contact Jose Villa (213) 861-7434 [email protected] Mario X. Carrasco (818) 843-0220 [email protected]