Page 40 - Synchrony US Hispanic Market Playbook

Hispanic first, Millennial second

According to Mintel Research, culture defines the family dynamic in the homes of

Hispanic Millennials. So much so that traditional gender roles are still the norm:
Hispanic Millennial women are in charge of most of the housework and have an
important say in the decisions that are made in the home.

Like the older generation, their lives center around their families. From participating in
family gatherings, to the way in which they decide what to buy, where to go shopping,
where to eat out, and how to spend their leisure time, Hispanic Millennials’ put family
first.

With the older Millennials now in their 40s, this generation is fully immersed in their
peak earning years, and the older Gen Z’ers are entering the workforce and beginning
to have more disposable income to make purchases, so their contribution to the US
economy should not be taken for granted.

In the chart that follows, we see that the Hispanic generational cohorts increase
steadily as we move to the younger cohorts. This is because Hispanics are younger on
average than other races and ethnic groups. Considering this trend, for marketers to

capture the attention of the Hispanic Millennial and Gen Z consumers, one might want
to note that although younger Hispanics might speak Spanish in the home, English
dominates conversations with peers. Also, Hispanics across all generations, especially
those who are older, generally prefer marketing that reflects their culture.

This generational group has a very strong cultural connection to their ethnicity.
According to a 2018 Kantar Consulting study*:

 62% have a higher interest in the Spanish language
 87% believe “cultural diversity is one of America’s major sources of strength”

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